<TABLE>
                                                            EXHIBIT 11.1

                                                     ELEXSYS INTERNATIONAL, INC.
                                   COMPUTATION OF EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
                                         (In thousands of dollars, except per share amounts)
<CAPTION>
                                                                             Three Months Ended                 Six Months Ended

                                                                          March 29,        March 30,       March 29,       March 30,
                                                                             1997             1996            1997           1996
                                                                          ---------        ---------       ---------       ---------
<S>                                                                        <C>              <C>              <C>            <C>   
Net Income                                                                 $  768           $2,229           $3,407         $4,239
                                                                           ======           ======           ======         ======

Earnings per common share and common share
equivalents:
Primary                                                                    $ 0.08           $ 0.23           $ 0.35         $ 0.44
Fully diluted                                                              $ 0.08           $ 0.23           $ 0.35         $ 0.44
                                                                           ======           ======           ======         ======

Weighted average common and dilutive common
equivalent shares outstanding:

Primary
  Weighted average common shares outstanding                                9,408            9,129            9,368          9,074
  Common shares relating to stock options                                     462              423              456            439
                                                                           ------           ------           ------         ------
  Weighted average common and common
  equivalent shares outstanding                                             9,870            9,552            9,824          9,513
                                                                           ======           ======           ======         ======

Fully Diluted
  Weighted average common shares outstanding                                9,408            9,129            9,368          9,074
  Common shares relating to stock options                                     462              423              456            439
                                                                           ------           ------           ------         ------

  Weighted average common and common
  equivalent shares outstanding                                             9,870            9,552            9,824          9,513
                                                                           ======           ======           ======         ======

<FN>
     Refer to Note 3  captioned  "Earnings  Per Share" of Notes to  Consolidated
Financial  Statements in the Company's  Form 10-Q for the quarterly period ended
March 29, 1997 for additional discussion of earnings per share.
</FN>
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