EXHIBIT 11
<TABLE>

                      CALIFORNIA MICRO DEVICES CORPORATION
                        Computation of Per Share Earnings
                  (Amounts in Thousands, Except per Share Data)

<CAPTION>
                                                          Twelve Months             Twelve Months             Nine Months
                                                              Ended                     Ended                    Ended
                                                         March 31, 1997            March 31, 1996            March 31, 1995
                                                       --------------------      --------------------      -------------------
<S>                                                          <C>                     <C>                       <C>       
Net income (loss)                                            $    704                $  5,119                  $(23,502) 
                                                             ========                ========                  ========
                                                                                                               
PRIMARY:                                                                                                       
Weighted average common shares outstanding                     10,234                  10,035                     8,554
                                                                                                               
Common equivalents attributable to:                                                                            
   Options                                                        315                     610                      --
                                                             --------                --------                  --------
                                                                                                               
Total weighted average common and                                                                              
   common equivalent shares outstanding                        10,549                  10,645                     8,554
                                                             ========                ========                  ========
                                                                                                               
Net income (loss) per share                                  $   0.07                $   0.48                  $  (2.75)
                                                             ========                ========                  ========
                                                                                                               
FULLY DILUTED:                                                                                                 
Weighted average common shares outstanding                     10,234                  10,035                     8,554
                                                                                                               
Common equivalents attributable to:                                                                            
   Options                                                        392                     658                      --
                                                             --------                --------                  --------
                                                                                                               
Total weighted average common and                                                                              
   common equivalent shares outstanding                        10,626                  10,693                     8,554
                                                             ========                ========                  ========
                                                                                                               
Net income (loss) per share                                  $   0.07                $   0.48                  $  (2.75)
                                                             ========                ========                  ========
                                                                                                               
                                                                                                               
                                                                                                        
</TABLE>
                                       42