ALL AMERICAN SEMICONDUCTOR, INC. AND SUBSIDIARIES EXHIBIT 11.1 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) QUARTERS ENDED MARCH 31 1998 1997 - ------------------------------------------------------------------------------------------------------------------ BASIC EARNINGS PER SHARE: Net Income................................................... $ 518,000 $ 302,000 =============== =============== Weighted Average Shares Outstanding.......................... 19,683,600 19,665,378 =============== =============== Basic Earnings Per Share..................................... $ .03 $ .02 ====== ====== DILUTED EARNINGS PER SHARE: Net Income................................................... $ 518,000 $ 302,000 =============== =============== Weighted Average and Dilutive Shares: Weighted average shares outstanding........................ 19,683,600 19,665,378 Dilutive shares............................................ 462,469 32,412 --------------- --------------- 20,146,069 19,697,790 =============== =============== Diluted Earnings Per Share................................... $ .03 $ .02 ====== ======