EXHIBIT 11
HEICO CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
1997 1996
------------------------ ------------------------
FULLY FULLY
PRIMARY DILUTED PRIMARY DILUTED
--------- --------- --------- ---------
Six months ended April 30:
Weighted average number of common
shares outstanding 5,309,469 5,309,469 5,132,965 5,132,965
Common Stock equivalents arising from
dilutive stock options (1) 1,022,211 1,046,812 575,666 618,805
--------- --------- --------- ---------
6,331,680 6,356,281 5,708,631 5,751,770
========= ========= ========= =========
Net income per share: (1)
From continuing operations $ .51 $ .51 $ .21 $ .21
From discontinued operations -- -- .13 .13
--------- --------- --------- ---------
Net income per share $ .51 $ .51 $ 34 $ .34
========= ========= ========= =========
Three months ended April 30:
Weighted average number of common
shares outstanding 5,332,224 5,332,224 5,179,790 5,179,790
Common Stock equivalents arising from
dilutive stock options (1) 1,055,478 1,055,653 649,458 726,866
--------- --------- --------- ---------
6,387,702 6,387,877 5,829,248 5,906,656
========= ========= ========= =========
Net income per share: (1)
From continuing operations $ .26 $ .26 $ .11 $ .11
From discontinued operations -- -- .07 .07
--------- --------- --------- ---------
Net income per share $ .26 $ .26 $ .18 $ .18
========= ========= ========= =========
<FN>
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(1) Computed under the "treasury stock" method using the
average market price for the primary computation and using the higher of
average or ending market prices for the fully diluted computation.
</FN>