EX-11.1 2 a06-21718_1ex11d1.htm EX-11

 

Exhibit 11.1

WILLIS LEASE FINANCE CORPORATION
AND SUBSIDIARIES
Computation of Earnings Per Share
(In thousands, except per share data, unaudited)

 

 

Three Months ended

 

Nine Months ended

 

 

 

September 30,

 

September 30,

 

 

 

2006

 

2005

 

2006

 

2005

 

Basic

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Net income/(loss) attributable to common shareholders

 

$

904

 

$

(501

)

$

1,170

 

$

2,024

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

9,279

 

9,097

 

9,219

 

9,050

 

 

 

 

 

 

 

 

 

 

 

Basic earnings/(loss) per common share

 

$

0.10

 

$

(0.06

)

$

0.13

 

$

0.22

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Net income/(loss) attributable to common shareholders

 

$

904

 

$

(501

)

$

1,170

 

$

2,024

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

9,279

 

9,097

 

9,219

 

9,050

 

Potentially dilutive common shares outstanding

 

414

 

—

 

429

 

429

 

Diluted average common shares outstanding

 

9,693

 

9,097

 

9,648

 

9,429

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings/(loss) per common share

 

$

0.09

 

$

(0.06

)

$

0.12

 

$

0.21

 

 

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.