### **EXHIBIT 11.1**

 

**DUPONT PHOTOMASKS,INC.**

 

**EARNINGS (LOSS) PERSHARE COMPUTATION**

 

**(Dollars inthousands, except share data)**

**(unaudited)**

** **
|                                       |   | **Basic**                              |   | **Diluted** |   |
|--------------------------------------------|--------|----------------------------------------|--------|-------------|--------|
|                                       |   | **Three Months Ended  March 31, 2002** |   |
|                                       |   |                                   |   |        |   |
| Weighted average shares outstanding        |   | 17,893,028                             |   | 17,893,028  |   |
| Dilutive effect of stock performance plans |   | —                                 |   | 368,949     |   |
| Dilutive effect of convertible notes       |   | —                                 |   | 941,088     |   |
| Shares for EPS                             |   | 17,893,028                             |   | 19,203,065  |   |
| Net income                                 |   | $                                      | 4,905  |        | $      | 4,905 |   |
| Dilutive effect of convertible notes       |   | —                                 |   | 92          |   |
| Net income EPS                             |   | $                                      | 4,905  |        | $      | 4,997 |   |
| Earnings per share                         |   | $                                      | 0.27   |        | $      | 0.26 |   |

 
|                                |   | **Basic**                              |    | **Diluted** |   |
|-------------------------------------|--------|----------------------------------------|---------|-------------|--------|
|                                |   | **Three Months Ended  March 31, 2003** |    |
|                                |   |                                   |    |        |   |
| Weighted average shares outstanding |   | 18,037,432                             |    | 18,037,432  |   |
| Net loss                            |   | $                                      | (25,854 | )           | $      | (25,854 | ) |
| Loss per share                      |   | $                                      | (1.43   | )           | $      | (1.43 | ) |

 
|                                       |   | **Basic**                             |   | **Diluted** |   |
|--------------------------------------------|--------|---------------------------------------|--------|-------------|--------|
|                                       |   | **Nine Months Ended  March 31, 2002** |   |
|                                       |   |                                  |   |        |   |
| Weighted average shares outstanding        |   | 17,860,729                            |   | 17,860,729  |   |
| Dilutive effect of stock performance plans |   | —                                |   | 242,302     |   |
| Shares for EPS                             |   | 17,860,729                            |   | 18,103,031  |   |
| Net income for EPS                         |   | $                                     | 2,289  |        | $      | 2,289 |   |
| Earnings per share                         |   | $                                     | 0.13   |        | $      | 0.13 |   |

 
|                                |   | **Basic**                             |    | **Diluted** |   |
|-------------------------------------|--------|---------------------------------------|---------|-------------|--------|
|                                |   | **Nine Months Ended  March 31, 2003** |    |
|                                |   |                                  |    |        |   |
| Weighted average shares outstanding |   | 18,000,257                            |    | 18,000,257  |   |
| Net loss                            |   | $                                     | (54,366 | )           | $      | (54,366 | ) |
| Loss per share                      |   | $                                     | (3.02   | )           | $      | (3.02 | ) |

 

We had outstanding anti-dilutive commitmentsunder our stock performance plans covering 1,189,221 and 4,341,430 shares forthe three months ended March 30, 2002 and 2003, respectively. We hadoutstanding anti-dilutive commitments under our stock performance planscovering 2,049,062 and 4,341,430 shares for the nine months ended March 30,2002 and 2003, respectively. For the three months and nine monthsended March 30, 2003, and for thenine months ended March 31, 2002, 941,088 shares for the effect of theconvertible notes were not included in the computations of diluted EPS becausethe effect of including the convertible notes would have been anti-dilutive.

 

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