<PAGE>
EXHIBIT 11.1
DUPONT PHOTOMASKS, INC.
EARNINGS PER SHARE COMPUTATION
(Dollars in thousands, except per share amounts
(unaudited)
<TABLE>
<CAPTION>
Nine Months Ended
March 31, 2000
----------------------
Basic Diluted
---------- -----------
<S> <C> <C>
Weighted average shares outstanding...................... 15,493,481 15,493,481
Dilutive effect of stock performance plans............... -- 649,855
---------- -----------
15,493,481 16,143,336
========== ===========
Net income............................................... $18,001 $18,001
Earnings per share....................................... $1.16 $1.12
<CAPTION>
Nine Months Ended
March 31, 1999
----------------------
Basic Diluted
---------- -----------
<S> <C> <C>
Weighted average shares outstanding...................... 15,293,067 15,293,067
Dilutive effect of stock performance plans............... -- 440,950
---------- -----------
15,293,067 15,734,017
========== ===========
Net income............................................... $10,862 $10,862
Earnings per share....................................... $0.71 $0.69
<CAPTION>
Year Ended June
30, 1999
----------------------
Basic Diluted
---------- -----------
<S> <C> <C>
Weighted average shares outstanding...................... 15,299,339 15,299,339
Dilutive effect of stock performance plans............... -- 480,842
---------- -----------
15,299,339 15,780,181
========== ===========
Net income............................................... $17,270 $17,270
Earnings per share....................................... $1.13 $1.09
<CAPTION>
Year Ended June
30, 1998
----------------------
Basic Diluted
---------- -----------
<S> <C> <C>
Weighted average shares outstanding...................... 15,179,596 15,179,596
Dilutive effect of stock performance plans............... -- 432,638
---------- -----------
15,179,596 15,612,234
========== ===========
Net income............................................... $33,532 $33,532
Earnings per share....................................... $2.21 $2.15
<CAPTION>
Year Ended June
30, 1997
----------------------
Basic Diluted
---------- -----------
<S> <C> <C>
Weighted average shares outstanding...................... 15,100,521 15,100,521
Dilutive effect of stock performance plans............... -- 419,718
---------- -----------
15,100,521 15,520,239
========== ===========
Net income............................................... $59,004 $59,004
Earnings per share....................................... $3.91 $3.80
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
YEAR ENDED JUNE
30, 1996
---------------------
BASIC DILUTED
---------- ----------
<S> <C> <C>
Weighted average shares outstanding....................... 10,727,000 10,727,000
Dilutive effect of stock performance plans................ -- 16,000
---------- ----------
10,727,000 10,743,000
========== ==========
Net income................................................ $26,904 $26,904
Earnings per share........................................ $2.51 $2.50
<CAPTION>
YEAR ENDED JUNE
30, 1995
---------------------
BASIC DILUTED
---------- ----------
<S> <C> <C>
Weighted average shares outstanding....................... 10,500,000 10,500,000
Dilutive effect of stock performance plans................ -- --
---------- ----------
10,500,000 10,500,000
========== ==========
Net income................................................ $4,119 $4,119
Earnings per share........................................ $0.39 $0.39
</TABLE>
At June 30, 1999, we had outstanding anti-dilutive commitments under our
stock performance plans covering 97,650 shares.