Exhibit 11.1 ALLTRISTA CORPORATION STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (Thousands of dollars except share data) Three month period ended Nine month period ended September 29, October 1, September 29, October 1, 1996 1995 1996 1995 ------------- ---------- ------------- ---------- Primary Earnings Per Share Income from continuing operations $ 4,176 $ 3,099 $13,170 $10,551 Discontinued operation - 256 - 1,227 ----------- --------- ---------- --------- Net income $ 4,176 $ 3,355 $13,170 $11,778 =========== ========= ========== ========= Weighted average number of common shares outstanding (000s) 7,776 7,830 7,840 7,790 Additional shares assuming conversion of stock options 152 173 171 204 ----------- --------- ---------- --------- Weighted average number of common and equivalent shares 7,928 8,003 8,011 7,994 =========== ========= ========== ========= Primary earnings per common share: Continuing operations $ .53 $ .39 $ 1.64 $ 1.32 Discontinued operation - .03 - .15 ----------- --------- ---------- --------- Net income $ .53 $ .42 $ 1.64 $ 1.47 =========== ========= ========== ========= Fully Diluted Earnings Per Share Income from continuing operations $ 4,176 $ 3,099 $ 13,170 $ 10,551 Discontinued operation - 256 - 1,227 ----------- --------- ---------- --------- Net income $ 4,176 $ 3,355 $ 13,170 $ 11,778 =========== ========= ========== ========= Weighted average number of common shares outstanding (000s) 7,776 7,830 7,840 7,790 Additional shares assuming conversion of stock options 157 182 195 222 ----------- --------- ---------- --------- Weighted average number of common and equivalent shares 7,933 8,012 8,035 8,012 =========== ========= ========== ========= Fully diluted earnings per common share: Continuing operations $ .53 $ .39 $ 1.64 $ 1.32 Discontinued operation - .03 - .15 ----------- --------- ---------- --------- Net income $ .53 $ .42 $ 1.64 $ 1.47 =========== ========= ========== =========