**Exhibit 11.1**

** **

**ALDILA, INC. AND SUBSIDIARIES**

**COMPUTATION OF NET INCOME PER COMMON SHARE**

**(In thousands, except per share amounts)**

 
|                                                                                                                                                                                                                                |   | **Twelve  months ended  December 31,** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|--------|
|                                                                                                                                                                                                                                |   | **2003**                               |   | **2002** |   | **2001** |   |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| BASIC:                                                                                                                                                                                                                              |   |                                   |   |   |   |   |   |
| Net loss                                                                                                                                                                                                                            |   | $                                      | (1,726 | ) | $ | (2,844 | ) | $ | (51,419 | ) |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| Weighted average number of common shares  outstanding                                                                                                                                                                               |   | 4,934                                  |   | 4,948 |   | 5,090 |   |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| Net loss per common share                                                                                                                                                                                                           |   | $                                      | (0.35  | ) | $ | (0.57 | ) | $ | (10.10 | ) |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| ASSUMING DILUTION:                                                                                                                                                                                                                  |   |                                   |   |   |   |   |   |
| Net loss                                                                                                                                                                                                                            |   | $                                      | (1,726 | ) | $ | (2,844 | ) | $ | (51,419 | ) |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| Weighted average number of common shares  outstanding                                                                                                                                                                               |   | 4,934                                  |   | 4,948 |   | 5,090 |   |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| The number of shares resulting from the  assumed exercise of stock options reduced by the number of shares which could  have been purchased with the proceeds from such exercise, using the average  market price during the period |   | —                                 |   | — |   | — |   |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| Weighted average number of common and  common equivalent shares                                                                                                                                                                     |   | 4,934                                  |   | 4,948 |   | 5,090 |   |
|                                                                                                                                                                                                                                |   |                                   |   |   |   |   |   |
| Net loss per common share, assuming  dilution                                                                                                                                                                                       |   | $                                      | (0.35  | ) | $ | (0.57 | ) | $ | (10.10 | ) |

 

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