1 EXHIBIT 11.1 STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE ALIGN-RITE INTERNATIONAL, INC. The computation of net income per share for the six months ended September 30, 1997 and 1996 as follows: 1997 1996 ---------- ---------- PRIMARY Net Income ................................... $2,939,000 $2,715,000 ========== ========== Average common stock outstanding ............. 4,426,679 4,379,529 Common stock equivalent issuable upon the exercise of options and warrants currently outstanding to purchase common stock subject to 20% limitation assumed repurchase ......................... 426,628 426,177 ---------- ---------- Sub-Total 4,853,307 4,805,706 Net income per share ......................... $0.61 $0.57 ===== =====