Exhibit 11.1 ALLTRISTA CORPORATION STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (Thousands of dollars except share data) Three month period ended March 30, March 31, 1997 1996 ---------- ----------- Primary Earnings Per Share Income from continuing operations $ 1,433 $ 3,090 Discontinued operation - 267 ---------- ----------- Net income $ 1,433 $ 3,357 ========== =========== Weighted average number of common shares outstanding (000s) 7,471 7,868 Additional shares assuming conversion of stock options 143 173 ---------- ----------- Weighted average number of common and equivalent shares 7,614 8,041 ========== =========== Primary earnings per common share: Continuing operations $ .19 $ .38 Discontinued operation - .04 ---------- ----------- Net income $ .19 $ .42 ========== =========== Fully Diluted Earnings Per Share Income from continuing operations $ 1,433 $ 3,090 Discontinued operation - 267 ---------- ----------- Net income $ 1,433 $ 3,357 ========== =========== Weighted average number of common shares outstanding (000s) 7,471 7,868 Additional shares assuming conversion of stock options 143 225 ---------- ----------- Weighted average number of common and equivalent shares 7,614 8,094 ========== =========== Fully diluted earnings per common share: Continuing operations $ .19 $ .38 Discontinued operation - .03 ---------- ----------- Net income $ .19 $ .41 ========== =========== Page 12 of 12