ALL AMERICAN SEMICONDUCTOR, INC. AND SUBSIDIARIES EXHIBIT 11.1 COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) QUARTERS ENDED MARCH 31 1997 1996 - ------------------------------------------------------------------------------------------------------------------ PRIMARY EARNINGS PER SHARE: - -------------------------- NET INCOME....................................................... $ 302,000 $ 161,000 ============= ============= WEIGHTED AVERAGE SHARES: Common shares outstanding..................................... 19,665,378 19,743,600 Common share equivalents...................................... 32,412 697,831 ------------- ------------- Weighted average number of common shares and common share equivalents outstanding....................... 19,697,790 20,441,431 ============= ============= PRIMARY EARNINGS PER COMMON SHARE................................ $.02 $.01 ==== ==== FULLY DILUTED EARNINGS PER SHARE: - --------------------------------- NET INCOME....................................................... $ 302,000 $ 161,000 ============= ============= WEIGHTED AVERAGE SHARES: Weighted average number of common shares and common share equivalents outstanding....................... 19,697,790 20,441,431 Additional options not included above......................... - - ------------- ------------- Weighted average number of common shares outstanding as adjusted.................................... 19,697,790 20,441,431 ============= ============= FULLY DILUTED EARNINGS PER COMMON SHARE.......................... $.02 $.01 ==== ====