<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         SIX MONTHS ENDED
                                                                   JUNE 30,                 JUNE 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....................   $ 1,454      $ (417)     $ 2,083    $(1,754)
  Extraordinary loss from debt refinancing, net..............    (2,078)          -       (2,078)         -
                                                                -------      ------      -------    -------
  Net income (loss) applicable to primary and fully
      diluted earnings (loss) per common share................  $  (624)     $ (417)     $     5    $(1,754)
                                                                -------      ------      -------    -------
                                                                -------      ------      -------    -------
PRO FORMA FOR THE RECAPITALIZATION

Primary Earnings per Common Share
  Weighted average number of common and dilutive
      common equivalent shares outstanding (B)................    5,161       2,289        4,085      2,289
                                                                -------      ------      -------    -------
                                                                -------      ------      -------    -------
  Primary Earnings (Loss) per Common Share
    Income (loss) before extraordinary item...................   $  .28      $ (.18)     $   .51     $ (.77)
    Extraordinary loss from debt refinancing..................     (.40)          -         (.51)         -
                                                                -------      ------      -------    -------
    Net income (loss).........................................   $ (.12)     $ (.18)     $     -     $ (.77)
                                                                -------      ------      -------    -------
                                                                -------      ------      -------    -------


Fully Diluted Earnings per Common Share
  Weighted average number of common and dilutive
      common equivalent shares outstanding (B)................    5,173       2,289        4,098      2,289
                                                                -------      ------      -------    -------
                                                                -------      ------      -------    -------
  Fully Diluted Earnings (Loss) per Common Share (C)
    Income (loss) before extraordinary item...................   $  .28      $ (.18)     $   .51     $ (.77)
    Extraordinary loss from debt refinancing..................     (.40)         -          (.51)         -
                                                                -------      ------      -------    -------
    Net income (loss).........................................   $ (.12)     $ (.18)     $     -     $ (.77)
                                                                -------      ------      -------    -------
                                                                -------      ------      -------    -------

</TABLE>

---------------------
(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 three months and six months ended June 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 six months ended June 30, 
     1997 and 1996 was not material.