ENGINEERED SUPPORT SYSTEMS, INC. Exhibit 11 - Statement Re: Computation of Earnings Per Share (in thousands, except per share data) Year Ended ----------------------------------------------- 2000 1999 1998 --------- --------- --------- NET INCOME $13,040 $7,309 $5,789 ========= ========= ========= BASIC EARNINGS PER SHARE Average basic shares outstanding 7,019 5,926 4,785 ========= ========= ========= Net income $1.86 $1.23 $1.21 ===== ===== ===== DILUTED EARNINGS PER SHARE Average basic shares outstanding 7,019 5,926 4,785 Net effect of dilutive stock options(1) 246 156 206 --------- --------- --------- Average diluted shares outstanding 7,265 6,082 4,991 ========= ========= ========= Net income $1.79 $1.20 $1.16 ===== ===== ===== <FN> (1) Based on the treasury stock method NOTE: On June 26, 1998, the Company effected a 3-for-2 stock split in the form of a 50% stock dividend. All share and per share amounts included on this schedule reflect this stock split.