Exhibit 11.1 ALLTRISTA CORPORATION COMPUTATION OF EARNINGS PER SHARE (Thousands of dollars except share amounts) Three month period ended Nine month period ended September 28, September 29, September 28, September 28, 1997 1996 1997 1996 ---------- ---------- -------- ------- Primary Earnings Per Share Net income $ 4,939 $ 4,176 $13,184 $13,170 =========== ========= ========= ========== Weighted average number of common shares outstanding (000s) 7,386 7,776 7,407 7,840 Additional shares assuming conversion of stock options 147 152 144 171 ----------- --------- --------- ---------- Weighted average number of common and equivalent shares 7,533 7,928 7,551 8,011 =========== ========= ========= ========== Primary net income per common share $ .66 $ .53 $ 1.75 $ 1.64 =========== ========= ========= ========== Fully Diluted Earnings Per Share Net income $ 4,939 $ 4,176 $13,184 $13,170 =========== ========= ========= ========== Weighted average number of common shares outstanding (000s) 7,386 7,776 7,407 7,840 Additional shares assuming conversion of stock options 157 157 160 195 ----------- --------- --------- ---------- Weighted average number of common and 7,543 7,933 7,567 8,035 =========== ========= ========= ========== equivalent shares Fully diluted net income per common share $ .65 $ .53 $ 1.74 $ 1.64 =========== ========= ========= ========== Page 14 of 14