**Exhibit 11.1**

 

**MESTEK, INC.**

 

**SCHEDULE OF COMPUTATION OF EARNINGS PER COMMON SHARE**

 

 
|                      | **Three-months Ended**                                            | **Nine-months Ended**                                           |
|--------------------------------------------------------------------------------------------|-------------------------------------------------------------------|-----------------------------------------------------------------|
|                 | **September 30,**                                                 | **September 30,**                                               |
|                 | **2005**                                                          | **2004**                                                        | **2005****** | **2004****** |
|                 | **(Dollars in thousands,**

**except earnings per common share)** |
|                                                                                       |                                                              |                                                            |   |   |
| Income from Continuing Operations                                                          | 1,078                                                             | 19,270                                                          | 2,561 | 16,109 |
|                                                                                       |                                                              |                                                            |   |   |
| Discontinued Operations (See Note 8):                                                      |                                                              |                                                            |   |   |
| Income from Operations of Discontinued                                                     |                                                              |                                                            |   |   |
| Business Before Taxes                                                                      | 909                                                               | 2,233                                                           | 6,438 | 6,306 |
| Applicable Income Tax Expense                                                              |        384                     |           939 |      2,725 |     2,646 |
| Income from Operations of Discontinued Business                                            |        525                     |        1,294                 |    3,713 |     3,660 |
|                                                                                       |                                                              |                                                            |   |   |
| Net Income                                                                                 | $1,603                                                            | $20,564                                                         | $6,274 | $19,769 |
|                                                                                       |                                                              |                                                            |   |   |
| Basic Earnings Per Common Share:                                                           |                                                              |                                                            |   |   |
| Continuing Operations                                                                      | $0.12                                                             | $2.24                                                           | $0.30 | $1.86 |
| Discontinued Operations                                                                    |    0.06                                            | $0.15                                                           | $0.43 | $0.42 |
| Net Income                                                                                 | $0.18                                                             | $2.39                                                           | $0.73 | $2.28 |
|                                                                                       |                                                              |                                                            |   |   |
| Basic Weighted Average Shares Outstanding                                                  |    8,732                                           |    8,604                                         |    8,653 | 8,678 |
|                                                                                       |                                                              |                                                            |   |   |
| Diluted Earnings Per Common Share:                                                         |                                                              |                                                            |   |   |
| Continuing Operations                                                                      | $0.12                                                             | $2.23                                                           | $0.30 | $1.86 |
| Discontinued Operations                                                                    |    0.06                                            | $0.15                                                           | $0.43 | $0.42 |
| Net Income                                                                                 | $0.18                                                             | $2.38                                                           | $0.73 | $2.28 |
|                                                                                       |                                                              |                                                            |   |   |
| Diluted Weighted Average Shares Outstanding                                                |    8,732                                           |    8,622                                         |    8,653 |    8,684 |