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 months ended June 30, 1998 and 1997: INCOME SHARES PER SHARE (NUMERATOR) (DENOMINATOR) AMOUNT ----------- ------------- --------- For the Three Months Ended June 30, 1998: Basic EPS.................................... $1,785,000 4,468,000 $0.40 Effective of dilutive securities: Stock Options............................. -- 425,000 ---------- --------- Diluted EPS.................................. $1,785,000 4,893,000 $0.36 For the Three Months Ended March 31, 1997: Basic EPS.................................... $1,448,000 4,422,000 $0.33 Effective of dilutive securities: Stock Options............................. -- 419,000 ---------- --------- Diluted EPS.................................. $1,448,000 4,841,000 $0.30 13