ALL AMERICAN SEMICONDUCTOR, INC. AND SUBSIDIARIES Exhibit 11.1 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) QUARTERS ENDED MARCH 31 2003 2002 - -------------------------------------------------------------------------------- BASIC EARNINGS PER SHARE: - ------------------------- Net Income ........................................... $ 61,000 $ 119,000 ========== ========== Weighted Average Shares Outstanding .................. 3,819,763 3,856,904 ========== ========== Basic Earnings Per Share ............................. $.02 $.03 ==== ==== DILUTED EARNINGS PER SHARE: - --------------------------- Net Income ........................................... $ 61,000 $ 119,000 ========== ========== Weighted Average and Dilutive Shares: Weighted average shares outstanding ................ 3,819,763 3,856,904 Dilutive shares .................................... 99 21,543 ---------- ---------- 3,819,862 3,878,447 ========== ========== Diluted Earnings Per Share ........................... $.02 $.03 ==== ====