Exhibit 11.1

JUNO LIGHTING, INC. AND SUBSIDIARIES

COMPUTATIONS OF NET INCOME (LOSS) PER COMMON SHARE

|                                                 |  |   |           |   |           |  |   |           | 
|------------------------------------------------ |  | - | --------- | - | --------- |  | - | --------- | 
|                                                 |  |   | 2003      |   | 2002      |  |   | 2001      | 
|                                                 |  |   |           |   |           |  |   |           | 
|                                                 |  |   |           |   |           |  |   |           | 
|Average number of common shares                  |  |   |           |   |           |  |   |           | 
|outstanding during the year                      |  |   | 2,545,298 |   | 2,513,785 |  |   | 2,481,928 | 
|                                                 |  |   |           |   |           |  |   |           | 
|                                                 |  |   |           |   |           |  |   |           | 
|Common equivalents: Shares issuable under        |  |   |           |   |           |  |   |           | 
|outstanding options                              |  |   | -         |   | -         |  |   | -         | 
|                                                 |  |   |           |   |           |  |   |           | 
|Shares which could have been purchased           |  |   |           |   |           |  |   |           | 
|based on the average market value for the period |  | - |           | - |           |  | - |          
|                                                 |  |   |           |   |           |  |   |           | 
|                                                 |  |   |           |   |           |  |   |           | 
|Shares for the portion of the period that the    |  |   |           |   |           |  |   |           | 
|options were outstanding                         |  |   | -         |   | -         |  |   | -         | 
|                                                 |  |   |           |   |           |  |   |           | 
|Average number of common and common              |  |   |           |   |           |  |   |           | 
|equivalent shares outstanding during the year    |  |   | 2,545,298 |   | 2,513,785 |  |   | 2,481,928 | 
|                                                 |  |   |           |   |           |  |   |           | 
|                                                 |  |   |           |   |           |  |   |           | 
|                                                 |  |   |           |   |           |  |   |           | 
|NET INCOME (LOSS) available                      |  |   |           |   |           |  |   |           | 
|to common shareholders                           |  | $ | 5,367,221 | $ | 1,084,178 |  | $ | (525,900) | 
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|                                                 |  |   |           |   |           |  |   |           | 
|NET INCOME (LOSS) PER COMMON                     |  |   |           |   |           |  |   |           | 
|SHARE (Basic and Diluted)                        |  | $ | 2.11      | $ | .43       |  | $ | (.21)     | 
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