EX-11.1 6 a08-2635_1ex11d1.htm EX-11.1

Exhibit 11.1

 

WILLIS LEASE FINANCE CORPORATION
AND SUBSIDIARIES

 

Computation of Earnings Per Share
(in thousands, except per share amounts)

 

 

 

Year ended December 31,

 

 

 

2007

 

As
Adjusted 
2006

 

As
Adjusted 
2005

 

Basic

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

14,536

 

$

14,941

 

$

3,641

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 

8,115

 

9,169

 

9,075

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

1.79

 

$

1.63

 

$

0.40

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

14,536

 

$

14,941

 

$

3,641

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 

8,115

 

9,169

 

9,075

 

Potentially dilutive common shares outstanding

 

627

 

437

 

440

 

Diluted average common shares outstanding

 

8,742

 

9,606

 

9,515

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

1.66

 

$

1.56

 

$

0.38

 

 

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 and restricted stock issued under the 2007 Stock Incentive Plan.