Attached files

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EX-31.2 - EX-31.2 - WILLIS LEASE FINANCE CORPwlfc-20160331ex3128104af.htm
EX-31.1 - EX-31.1 - WILLIS LEASE FINANCE CORPwlfc-20160331ex3110e1822.htm
EX-32 - EX-32 - WILLIS LEASE FINANCE CORPwlfc-20160331xex32.htm
10-Q - 10-Q - WILLIS LEASE FINANCE CORPwlfc-20160331x10q.htm

Exhibit 11.1

 

WILLIS LEASE FINANCE CORPORATION

AND SUBSIDIARIES

Computation of Earnings Per Share

(In thousands, except per share data, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

    

 

 

 

    

2016

    

2015

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 

 

 

 

 

$

3,768 

 

$

2,298 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

 

 

 

 

 

 

7,149 

 

 

7,848 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

 

 

 

 

 

 

$

0.53 

 

$

0.29 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 

 

 

 

 

$

3,768 

 

$

2,298 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

 

 

 

 

 

 

7,149 

 

 

7,848 

 

Potentially dilutive common shares outstanding

 

 

 

 

 

 

 

 

123 

 

 

196 

 

Diluted average common shares outstanding

 

 

 

 

 

 

 

 

7,272 

 

 

8,044 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

 

 

 

 

 

 

$

0.52 

 

$

0.29 

 

 

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 and restricted stock issued under the 2007 Stock Incentive Plan.