<PAGE>   1
                                                                   EXHIBIT 11.1


                          THE COAST DISTRIBUTION SYSTEM

                          Computation of Loss Per Share
                           Quarter Ended June 30, 1997

<TABLE>
<CAPTION>


                                                                 Primary        Fully Diluted
                                                             Loss Per Share    Loss Per Share
                                                             --------------    --------------
  <S>                                                        <C>                <C>
   I.    Weighted Averages Shares Outstanding                   5,246,879         5,246,879    
                                                                                               
  II.    Net Loss                                              $  (51,000)       $  (51,000)   
                                                                                               
         Dividends paid on preferred stock of subsidiary           (3,000)           (3,000)   
                                                               ----------        ----------              
                                                                                               
         Net loss attributable to common shareholders          $  (54,000)       $  (54,000)   
                                                                                               
         Divided by Common and Equivalent Shares                5,246,879         5,246,879    
                                                               ----------        ----------              
                                                                                               
         Loss Per Share                                        $    (0.01)       $    (0.01)   
                                                               ==========        ==========    

</TABLE>



<PAGE>   2
                                                                   EXHIBIT 11.1


                          THE COAST DISTRIBUTION SYSTEM

                          Computation of Loss Per Share
                         Six Months Ended June 30, 1997



<TABLE>
<CAPTION>

                                                                 Primary       Fully Diluted
                                                             Loss Per Share    Loss Per Share
                                                             --------------    --------------
 <S>                                                          <C>              <C>
  I.     Weighted Averages Shares Outstanding                   5,229,700         5,229,700      
                                                                                                 
 II.     Net Loss                                              $ (143,000)       $ (143,000)     
                                                                                                 
         Dividends paid on preferred stock of subsidiary          (6,000)            (6,000)     
                                                               ----------        ----------             
                                                                                                 
         Net loss attributable to common shareholders          $ (149,000)       $ (149,000)     
                                                                                                 
         Divided by Common and Equivalent Shares                5,229,700         5,229,700      
                                                               ----------        ----------      
                                                                                                 
         Loss Per Share                                        $    (0.03)       $    (0.03)     
                                                               ==========        ==========      

</TABLE>