Exhibit 11 NU HORIZONS ELECTRONICS CORP. EXHIBIT 11 __________ FOR THE YEAR ENDED ------------------ February February February 28, 2002 28, 2001 29, 2000 -------- -------- -------- BASIC EARNINGS: - -------------- Net income $ 2,219,676 $35,352,085 $11,698,786 =========== =========== =========== Weighted average number of common shares outstanding 16,574,911 16,213,084 13,511,345 =========== =========== =========== Basic earnings per common share $ 13 $ 2.18 $ 87 =========== =========== =========== DILUTED EARNINGS: - ---------------- Net income $ 2,219,676 $35,352,085 $11,698,786 Net (after tax) interest expense related to convertible debt -- -- 332,296 ----------- ----------- ----------- Net income as adjusted $ 2,219,676 $35,352,085 $12,031,082 =========== =========== =========== SHARES: Weighted average number of common shares outstanding 16,574,911 16,213,084 13,511,345 Stock options 855,421 1,532,991 2,988,906 Assuming conversion of convertible debt -- -- 1,047,538 ----------- ----------- ----------- Weighted average number of common shares outstanding as adjusted 17,430,332 17,746,075 17,547,789 =========== =========== =========== DILUTED EARNINGS PER COMMON SHARE $ 13 $ 1.99 $ 67 =========== =========== ===========