EX-11.1 3 a07-18889_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,

 

 

 

2007

 

2006

 

2007

 

2006

 

Basic

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

3,612

 

$

817

 

$

7,235

 

$

10,881

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

8,118

 

9,223

 

8,066

 

9,189

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

0.44

 

$

0.09

 

$

0.90

 

$

1.18

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

3,612

 

$

817

 

$

7,235

 

$

10,881

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

8,118

 

9,223

 

8,066

 

9,189

 

Potentially dilutive common shares outstanding

 

518

 

475

 

523

 

454

 

Diluted average common shares outstanding

 

8,636

 

9,698

 

8,589

 

9,643

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

0.42

 

$

0.08

 

$

0.84

 

$

1.13

 

 

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.