EXHIBIT 11
Microsemi Corporation and Subsidiaries
Unaudited Earnings Per Share Calculation
(in thousands, except earnings per share)
13 Weeks Ended 26 Weeks Ended
March 30, 1997 March 31, 1996 March 30, 1997 March 31,1996
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(amounts in 000's) (amounts in 000's)
PRIMARY
Net income $ 2,395 $ 1,828 $ 4,284 $ 3,257
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Equivalent shares outstanding 8,568 7,824 8,363 7,824
Equivalent shares from stock options 337 408 369 440
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Primary common and common
equivalent shares 8,905 8,232 8,732 8,264
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Primary earnings per share $ 0.27 $ 0.22 $ 0.49 $ 0.39
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FULLY DILUTED
Net income $ 2,395 $ 1,828 $ 4,284 $ 3,257
Interest savings from conversion of
convertible debt, net of income
taxes 305 323 626 646
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Fully diluted net income $ 2,700 $ 2,151 $ 4,910 $ 3,903
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Equivalent shares outstanding 8,568 7,824 8,363 7,824
Equivalent shares from stock options 337 408 403 440
Convertible shares 2,988 3,523 3,194 3,523
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Fully diluted common and common
equivalent shares 11,893 11,755 11,960 11,787
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Fully diluted earnings per share $ 0.23 $ 0.18 $ 0.41 $ 0.33
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