EX-11.1
Computation of Earnings
EXHIBIT XI
WILLIS LEASE FINANCE CORPORATION
Computation of Earnings Per Share
Three Months Ended Nine Months Ended
September 30, September 30,
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1998 1997 1998 1997
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(in thousands, except (in thousands, except
per share data) per share data)
Income before extraordinary item
Basic
Earnings:
Income before extraordinary item $2,484 $1,451 $6,582 $3,732
Shares:
Weighted average number of common shares outstanding 7,280 5,447 7,245 5,441
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Basic earnings per common share before extraordinary item $0.34 $0.27 $0.91 $0.69
Assuming Full Dilution
Earnings:
Income before extraordinary item $2,484 $1,451 $6,582 $3,732
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Shares:
Weighted average number of common shares
outstanding and common stock equivalents 7,495 5,658 7,466 5,592
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Earnings per common share assuming full dilution, $0.33 $0.26 $0.88 $0.67
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before extraordinary item
Net income
Basic
Earnings:
Net income $2,484 $1,451 $6,382 $5,740
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Shares:
Weighted average number of common shares outstanding 7,280 5,447 7,245 5,441
------ ------ ------ ------
Basic earnings per common share $0.34 $0.27 $0.88 $1.05
Assuming Full Dilution
Earnings:
Net income $2,484 $1,451 $6,382 $5,740
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Shares:
Weighted average number of common shares
outstanding and common stock equivalents 7,495 5,658 7,466 5,592
------ ------ ------ ------
Earnings per common share assuming full dilution $0.33 $0.26 $0.85 $1.03
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