1 EXHIBIT 11.1 STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE ALIGN-RITE INTERNATIONAL, INC. The following table provides a reconciliation of the numerator and denominators of the basic and diluted per-share computations for the three and nine months ended December 31, 1999 and 1998: INCOME SHARES PER SHARE (NUMERATOR) (DENOMINATOR) AMOUNT ----------- ------------- --------- For the Three Months Ended December 31, 1999: Basic EPS............................................ $ 526,000 4,678,000 $0.11 Effect of dilutive securities: Stock Options..................................... -- 293,000 ---------- --------- Diluted EPS.......................................... $ 526,000 4,971,000 $0.11 ========== ========= For the Three Months Ended December 31, 1998: Basic EPS............................................ $ 805,000 4,497,000 $0.18 Effect of dilutive securities: Stock Options..................................... -- 363,000 ---------- --------- Diluted EPS.......................................... $ 805,000 4,860,000 $0.17 ========== ========= INCOME SHARES PER SHARE (NUMERATOR) (DENOMINATOR) AMOUNT ----------- ------------- --------- For the Nine Months Ended December 31, 1999: Basic EPS............................................ $2,598,000 4,620,000 $0.56 Effective of dilutive securities: Stock Options..................................... -- 305,000 ---------- --------- Diluted EPS.......................................... $2,598,000 4,925,000 $0.53 ========== ========= For the Nine Months Ended December 31, 1998: Basic EPS............................................ $4,401,000 4,481,000 $0.98 Effective of dilutive securities: Stock Options..................................... -- 385,000 ---------- --------- Diluted EPS.......................................... $4,401,000 4,866,000 $0.90 ========== =========