Attached files

file filename
10-Q - 10-Q - WILLIS LEASE FINANCE CORPwlfc-20160630x10q.htm
EX-32 - EX-32 - WILLIS LEASE FINANCE CORPwlfc-20160630xex32.htm
EX-31.2 - EX-31.2 - WILLIS LEASE FINANCE CORPwlfc-20160630ex312ee05c4.htm
EX-31.1 - EX-31.1 - WILLIS LEASE FINANCE CORPwlfc-20160630ex311611ee1.htm
EX-10.15 - EX-10.15 - WILLIS LEASE FINANCE CORPwlfc-20160630ex10158173c.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 June 30,

 

Six Months Ended June 30,

 

 

    

2016

    

2015

    

2016

    

2015

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

3,366 

 

$

(486)

 

$

7,377 

 

$

872 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

6,685 

 

 

7,841 

 

 

6,917 

 

 

7,845 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share

 

$

0.50 

 

$

(0.06)

 

$

1.07 

 

$

0.11 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assuming full dilution

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

3,366 

 

$

(486)

 

$

7,377 

 

$

872 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

Average common shares outstanding

 

 

6,685 

 

 

7,841 

 

 

6,917 

 

 

7,845 

 

Potentially dilutive common shares outstanding

 

 

134 

 

 

 

 

130 

 

 

177 

 

Diluted average common shares outstanding

 

 

6,819 

 

 

7,841 

 

 

7,047 

 

 

8,022 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per common share

 

$

0.49 

 

$

(0.06)

 

$

1.05 

 

$

0.11 

 

 

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.