Exhibit 11.1 ALLTRISTA CORPORATION STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (Thousands of dollars except share data) Three month period ended March 31, April 2, 1996 1995 ------------ --------- Primary Earnings Per Share Income from continuing operations $ 3,090 $ 2,406 Discontinued operation 267 446 ---------- ---------- Net income $ 3,357 $ 2,852 ========== ========== Weighted average number of common shares outstanding (000s) 7,868 7,741 Additional shares assuming conversion of stock options 173 225 ---------- ---------- Weighted average number of common and equivalent shares 8,041 7,966 ========== ========== Primary earnings per common share: Continuing operations $ .38 $ .30 Discontinued operation .04 .06 ---------- ---------- Net income $ .42 $ .36 ========== ========== Fully Diluted Earnings Per Share Income from continuing operations $ 3,090 $ 2,406 Discontinued operation 267 446 ---------- ---------- Net income $ 3,357 $2,852 ========== ========== Weighted average number of common shares outstanding (000s) 7,868 7,741 Additional shares assuming conversion of stock options 225 262 ---------- ---------- Weighted average number of common and equivalent shares 8,094 8,003 ========== ========== Fully diluted earnings per common share: Continuing operations $ .38 $ .30 Discontinued operation .03 .06 ---------- ---------- Net income $ .41 $ .36 ========== ========== Page 13 of 13