<PAGE>
                                                                    EXHIBIT 11.1
          DECRANE AIRCRAFT HOLDINGS, INC. AND SUBSIDIARIES  

                   COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE
                        (IN THOUSANDS, EXCEPT PER SHARE DATA)

<TABLE>
<CAPTION>
                                                                 THREE MONTHS ENDED     NINE MONTHS ENDED  
                                                                     SEPTEMBER 30,         SEPTEMBER 30,   
                                                                 -------------------   ------------------- 
                                                                   1997       1996       1997       1996   
                                                                 --------   --------   --------   -------- 
                                                                     (UNAUDITED)           (UNAUDITED)     
<S>                                                              <C>        <C>        <C>        <C>      
PRO FORMA NET INCOME (LOSS) USED TO COMPUTE PER SHARE DATA (A)                                             
                                                                                                           
  Income (loss) before extraordinary item......................  $  1,481   $    657   $  3,564   $ (1,097)
  Extraordinary loss from debt refinancing, net................        --         --     (2,078)        -- 
                                                                 --------   --------   --------   -------- 
                                                                                                           
  Net income (loss) applicable to primary and fully                                                        
    diluted earnings (loss) per common share...................  $  1,481   $    657   $  1,486   $ (1,097)
                                                                 --------   --------   --------   -------- 
                                                                 --------   --------   --------   -------- 
                                                                                                           
PRO FORMA FOR THE RECAPITALIZATION                                                                         
                                                                                                           
Primary Earnings per Common Share                                                                          
  Weighted average number of common and dilutive                                                           
    common equivalent shares outstanding (B)...................     5,643      2,987      4,617      2,647 
                                                                 --------   --------   --------   -------- 
                                                                 --------   --------   --------   -------- 
                                                                                                           
  Primary Earnings (Loss) per Common Share                                                                 
    Income (loss) before extraordinary item....................  $    .26   $    .22   $    .77   $   (.41)
    Extraordinary loss from debt refinancing...................        --         --       (.45)        -- 
                                                                 --------   --------   --------   -------- 
    Net income (loss)..........................................  $    .26   $    .22   $    .32   $   (.41)
                                                                 --------   --------   --------   -------- 
                                                                 --------   --------   --------   -------- 
                                                                                                           
Fully Diluted Earnings per Common Share                                                                    
  Weighted average number of common and dilutive                                                           
    common equivalent shares outstanding (B)...................     5,648      2,987      4,644      2,647 
                                                                 --------   --------   --------   -------- 
                                                                 --------   --------   --------   -------- 
                                                                                                           
  Fully Diluted Earnings (Loss) per Common Share (C)                                                       
    Income (loss) before extraordinary item....................  $    .26   $    .22   $    .77   $   (.41)
    Extraordinary loss from debt refinancing...................        --         --       (.45)        -- 
                                                                 --------   --------   --------   -------- 
    Net income (loss)..........................................  $    .26   $    .22   $    .32   $   (.41)
                                                                 --------   --------   --------   -------- 
                                                                 --------   --------   --------   -------- 
</TABLE>

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(A) The weighted average number of shares assumes that the redeemable 
    warrants and preferred stock converted into common stock pursuant to the 
    Recapitalization had been converted and thus outstanding since the dates of
    issuance. As a result, pro forma net income (loss) per common share is 
    computed using the reported net income (loss) of the Company before 
    deductions for the adjustments in redemption value of redeemable warrants 
    and preferred stock dividends.

(B) Redeemable warrants and non-compensatory stock options are excluded for 
    the nine months ended September 30, 1996, as they are anti-dilutive.

(C) The fully dilutive effect of common equivalent shares on the calculation 
    of fully diluted earnings (loss) per common and dilutive common equivalent
    shares for the three months and nine months ended September 30, 1997 and 
    1996 was not material.
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