EX-11.1 3 a07-5637_1ex11d1.htm EX-11.1

Exhibit 11.1

WILLIS LEASE FINANCE CORPORATION
AND SUBSIDIARIES

Computation of Earnings Per Share
(in thousands, except per share amounts)

 

 

 

Year ended December 31,

 

 

 

2006

 

2005

 

2004

 

Basic

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

4,309

 

$

4,177

 

$

5,483

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 

9,169

 

9,075

 

8,925

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

0.47

 

$

0.46

 

$

0.61

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

4,309

 

$

4,177

 

$

5,483

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

Average common shares outstanding

 

9,169

 

9,075

 

8,925

 

Potentially dilutive common shares outstanding

 

437

 

440

 

351

 

Diluted average common shares outstanding

 

9,606

 

9,515

 

9,276

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

0.45

 

$

0.44

 

$

0.59

 

 

Supplemental information:

The difference between average common shares outstanding to calculate basic and assuming full dilution is due to options outstanding under the 1996 Stock Options/Stock Issuance Plan.