ALL AMERICAN SEMICONDUCTOR, INC. AND SUBSIDIARIES Exhibit 11.1 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) Quarters Six Months PERIODS ENDED JUNE 30 2002 2001 2002 2001 - ------------------------------------------------------------------------------------------------------ BASIC EARNINGS PER SHARE: - ------------------------- Net Income (Loss) ........................ $ 198,000 $(13,982,000) $ 317,000 $(13,311,000) ============ ============ ============ ============ Weighted Average Shares Outstanding ...... 3,856,904 3,856,904 3,856,904 3,856,904 ============ ============ ============ ============ Basic Earnings (Loss) Per Share .......... $ .05 $(3.63) $ .08 $(3.45) ====== ====== ====== ====== DILUTED EARNINGS PER SHARE: - --------------------------- Net Income (Loss) ........................ $ 198,000 $(13,982,000) $ 317,000 $(13,311,000) ============ ============ ============ ============ Weighted Average and Dilutive Shares: Weighted average shares outstanding .... 3,856,904 3,856,904 3,856,904 3,856,904 Dilutive shares ........................ 10,281 -- 15,547 -- ------------ ------------ ------------ ------------ 3,867,185 3,856,904 3,872,451 3,856,904 ============ ============ ============ ============ Diluted Earnings (Loss) Per Share ........ $ .05 $(3.63) $ .08 $(3.45) ====== ====== ====== ======