1 EXHIBIT 11.1 HASKEL INTERNATIONAL, INC. STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (UNAUDITED) THREE MONTHS ENDED AUGUST 31, AUGUST 29, 1996 1997 ------------- ------------- Primary & Primary & Fully Diluted Fully Diluted ------------- ------------- Primary and Fully Diluted Earnings Income from continuing operations .................................. $ 1,022,000 $ 1,115,000 Loss from discontinued operations, net of taxes .................... (300,000) ------------- ------------- Net income ......................................................... $ 722,000 $ 1,115,000 ============= ============= Weighted average number of shares outstanding .......................... 4,731,550 4,791,023 Dilutive effect of stock options and warrants .......................... 71,664 319,758 ------------- ------------- Number of shares used to compute primary and fully diluted earnings per share ..................................... 4,803,214 5,110,781 ============= ============= Primary and Fully Diluted Earnings per Share Income from continuing operations .................................. $ 0.21 $ 0.22 Loss from discontinued operations, net of taxes .................... (0.06) ------------- ------------- Net income ......................................................... $ 0.15 $ 0.22 ============= ============= 13