EX-11.1 2 a05-12856_1ex11d1.htm EX-11.1

Exhibit 11.1

 

WILLIS LEASE FINANCE CORPORATION

AND SUBSIDIARIES

Computation of Earnings Per Share

(In thousands, except per share data, unaudited)

 

 

 

Three Months ended June 30,

 

Six Months ended June 30,

 

 

 

2005

 

2004

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Net income

 

$

1,564

 

$

915

 

$

2,130

 

$

1,884

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

9,047

 

8,908

 

9,027

 

8,882

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

0.17

 

$

0.10

 

$

0.24

 

$

0.21

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Net income

 

$

1,564

 

$

915

 

$

2,130

 

$

1,884

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

9,047

 

8,908

 

9,027

 

8,882

 

Potentially dilutive common shares outstanding

 

424

 

407

 

411

 

360

 

Diluted average common shares outstanding

 

9,471

 

9,315

 

9,438

 

9,242

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

0.17

 

$

0.10

 

$

0.23

 

$

0.20

 

 

Supplemental information:

 

The difference between average common shares outstanding to calculate basic and assuming full dilution is due to options outstanding under the 1996 Stock Options/Stock Issuance Plan.