<PAGE>
 
EXHIBIT 11.1

Wilmar Industries, Inc.
Statement regarding Computation of Net Income Per Share
 
PRIMARY EARNINGS PER SHARE

<TABLE> 
<CAPTION> 
                                              THREE MONTHS           THREE MONTHS             NINE MONTHS            NINE MONTHS
                                                  ENDED                  ENDED                   ENDED                  ENDED
                                            SEPTEMBER 29,1995      SEPTEMBER 27, 1996      SEPTEMBER 29,1995      SEPTEMBER 27, 1996
                                           -------------------    --------------------    -------------------    -------------------
<S>                                        <C>                    <C>                     <C>                    <C> 
Income Before Income Taxes                   $     1,535,715       $      2,955,878        $      3,654,771        $      6,585,864
                                                                                                                      
Provision for Income Taxes (2)                       615,000              1,099,000               1,465,000               2,551,000
                                              ---------------       ----------------         ---------------        ----------------

Net Income (2)                               $       920,715       $      1,856,878         $     2,189,771        $      4,034,864
                                              ===============       ================         ===============        ================

 
 
Weighted Average Shares Outstanding                5,320,000             12,020,511               5,432,000              10,466,024
                                                                                                                
Common Stock Equivalents :                                                                                      
 Preferred Stock                                   2,225,258                                      1,708,569                 238,276

Items issued within one year of IPO: (1)                                                                        
 Common Stock                                                                                       683,333     
 Stock Options                                       172,327                272,630                 172,327                 276,106
                                              ---------------       ----------------         ---------------        ----------------

Total Weighted Average Shares Outstanding          7,717,585             12,293,141               7,996,229              10,980,406
                                              ===============       ================         ===============        ================

Net Income Per Share (2)                     $          0.12       $           0.15         $          0.27        $           0.37
                                              ===============       ================         ===============        ================
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(1) Common stock issued and stock options granted at prices lower then the
assumed initial public offering price within a one year period prior to an
initial public offering are included in the calculation (using the treasury
stock method and the assumed initial public offering price) as if they were
outstanding for all periods presented (See Notes 2 and 6).


(2) The provision for income taxes, net income, and net income per share amounts
reflected for the period ended March 31, 1995 represents pro forma amounts as if
the Company had been subject to federal and state income taxation as a C
Corporation since inception.

FULLY DILUTED EARNINGS PER SHARE

Fully diluted earnings per share differs from primary earnings per share by less
than 3%.