Exhibit 11.1 WIRELESS TELECOM GROUP, INC. COMPUTATION OF PER SHARE EARNINGS (Unaudited) For the Three Months For the Six Months Ended June 30, Ended June 30, -------------- -------------- 2004 2003 2004 2003 ---- ---- ---- ---- Net Income $646,917 $ 367,326 $834,785 $ 485,470 ======== ========= ======== ========= BASIC EARNINGS: Weighted average number of common shares outstanding 17,161,361 16,886,865 17,080,168 16,869,008 ========== ========== ========== ========== Basic earnings per common share $ 0.04 $0.02 $ 0.05 $0.03 ====== ===== ====== ===== DILUTED EARNINGS: Weighted average number of common shares outstanding 17,161,361 16,886,865 17,080,168 16,869,008 Assumed exercise of stock options 414,830 137,858 520,263 101,256 ------- ------- ------- ------- Weighted average number of common shares outstanding, as adjusted 17,576,191 17,024,723 17,600,431 16,970,264 ========== ========== ========== ========== Diluted earnings per common share $ 0.04 $0.02 $ 0.05 $0.03 ====== ===== ====== =====