Exhibit 11.1 WIRELESS TELECOM GROUP, INC. COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) MARCH 31, 1999 MARCH 31, 1998 -------------- -------------- Income from continuing operations $ 543,277 $ 490,973 Income from discontinued operations and Gain on sale of test equipment business 3,560,852 709,574 ----------- ----------- Net Income $ 4,104,129 $ 1,200,547 =========== =========== BASIC EARNINGS: Weighted average number of common shares outstanding 17,557,298 17,484,259 =========== =========== Basic earnings per common share: Continuing operations $0.03 $0.03 Discontinued operations 0.20 0.04 ----------- ----------- $0.23 $0.07 =========== =========== DILUTED EARNINGS: Weighted average number of common shares outstanding 17,557,298 17,484,259 Stock Options -- 171,059 ----------- ----------- Weighted average number of common shares outstanding, as adjusted 17,557,298 17,655,318 =========== =========== Diluted earnings per common share: Continuing operations $0.03 $0.03 Discontinued operations 0.20 0.04 ----------- ----------- $0.23 $0.07 =========== =========== 13