[Detailed Description of this Exhibit 11.1: Statement re: Computation of Weighted Average Number of Common and Common Equivalent Shares Outstanding] EXHIBIT 11.1 Asahi/America, Inc. Statement of Computation of Weighted Average Number of Common and Common Equivalent Shares Outstanding For the years ended December 31, 1994 1995 1996 ---- ---- ---- Weighted average common shares outstanding 2,340,000 2,340,000 2,972,877 Common and common equivalent shares - - 15,055 --------- --------- --------- Weighted average number of common and common equivalent shares outstanding 2,340,000 2,340,000 2,987,932 ========= ========= =========