Exhibit 11.1--Statement Regarding Computation of Per-Share Earnings
Interstate Forging Industries, Inc.
Year Ended
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December 31 January 1 January 2
1995 1995 1994
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Primary
Average shares outstanding $1,300,589 $1,487,574 $2,000,346
Net effect of dilutive stock
options, including wind-
fall tax benefits--based
on the treasury stock
method using average
market price 84,230 101,366 187,132
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Total 1,384,819 1,688,940 2,187,478
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Net income $5,346,067 $4,744,777 $3,186,011
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Per-share amount $3.86 $2.81 $1.46
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Fully Diluted
Average shares outstanding 1,300,589 1,487,574 2,000,346
Net effect of dilutive stock
options, including wind-
fall tax benefits--based
on the treasury stock
method using the year-
end market price 95,568 101,366 194,743
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Total 1,396,247 1,688,940 2,195,089
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Net income $5,346,067 $4,744,777 $3,186,011
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Per-share amount $3.83 $2.81 $1.45
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