1 EXHIBIT 11.1 HASKEL INTERNATIONAL, INC. STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE Year Ended May 31, --------------------------------------------- 1994 1995 1996 ------------- ------------- ------------- Primary & Primary & Primary & Fully Diluted Fully Diluted Fully Diluted ------------- ------------- ------------- Net income used to compute primary and fully diluted income per share................. $ 3,000 $ 1,019,000 $ 2,547,000 ============= ============= ============= Weighted average number of shares outstanding............... 3,600,992 4,356,322 4,728,230 Dilutive effect of stock options and warrants............. 74,041 80,428 10,036 Dilutive effect of stock options granted and stock issued in the 17 months prior to November 1, 1994 using the treasury stock method........................... 254,316 64,033 - ------------- ------------- ------------- Number of shares used to compute primary and fully diluted earnings per share....... 3,929,349 4,500,783 4,738,266 ============= ============= ============= Net income per share...... $0.00 $0.23 $0.54 ============= ============= =============