Exhibit 11.1 ROHR, INC., AND SUBSIDIARIES CALCULATION OF PRIMARY NET INCOME PER SHARE OF COMMON STOCK (in thousands except per share data) Year ended July 31, ------------------------------------------------------------ 1997 1996 1995 1994 1993 ------- ---------- ---------- ---------- ---------- (Restated) (Restated) (Restated) (Restated) Net income (loss) from continuing operations before cumulative effect of accounting changes ($3,368) $22,278 $20,211 $23,341 ($26,488) Income (loss) from discontinued operations, net of taxes 3,879 2,259 (6,324) Loss from extraordinary item, net of taxes (2,654) (1,146) Cumulative effect of accounting changes -- net of taxes (223,950) ------- ------- ------- ------- --------- Net income (loss) applicable to primary earnings per common share ($6,022) $22,278 $22,944 $25,600 ($256,762) ======= ======= ======= ======= ========= Common stock and common stock equivalents: Average shares of common stock outstanding during the year 24,567 20,157 18,055 18,017 17,908 Net effect of common stock equivalents (principally stock options and rights) 900 657 158 45 1 ------- ------- ------- ------- --------- Total common stock and common stock equivalents 25,467 20,814 18,213 18,062 17,909 ======= ======= ======= ======= ========= Net income (loss) per average share of common stock: Net income (loss) from continuing operations before cumulative effect of accounting changes ($0.13) $1.07 $1.11 $1.29 (1.48) Income (loss) from discontinued operations, net of taxes 0.21 0.12 (0.36) Extraordinary item, net of taxes (0.11) (0.06) Cumulative effect of accounting changes -- net of taxes (12.50) ------- ------- ------- ------- --------- Primary net income (loss) per share ($0.24) $1.07 $1.26 $1.41 ($14.34) ======= ======= ======= ======= =========