EX-11.1 2 ex11-1.txt STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS. 1 EXHIBIT 11.1 Lexent Inc. Computation of Earnings Per Share (Dollars in thousands except per share amounts)
For the year ended December 31, 1997 For the year ended December 31, 1998 ------------------------------------ ------------------------------------ Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount ----------- ------------- --------- ----------- ------------- --------- Net Income $ 2,189 $ 3,828 Less: Preferred Stock Dividends -- (301) -------------------------- -------------------------- NET INCOME PER SHARE - BASIC: Income available to common shareholders 2,189 22,717 $ 0.10 3,527 22,717 $ 0.16 ========= ======= EFFECT OF DILUTIVE SECURITIES: Convertible preferred stock -- -- 301 3,673 Common stock options -- -- -- -- -------------------------- -------------------------- NET INCOME PER SHARE - DILUTED: Income available to common shareholders plus assumed conversions $ 2,189 22,717 $ 0.10 $ 3,828 26,390 $ 0.15 ===================================== =====================================
For the year ended December 31, 1999 ------------------------------------ Income Shares Per Share (Numerator) (Denominator) Amount ----------- ------------- --------- Net Income $ 7,952 Less: Preferred Stock Dividends (690) -------------------------- NET INCOME PER SHARE - BASIC: Income available to common shareholders 7,262 22,721 $ 0.32 ========= EFFECT OF DILUTIVE SECURITIES: Convertible preferred stock 690 8,740 Common stock options -- 2,070 -------------------------- NET INCOME PER SHARE - DILUTED: Income available to common shareholders plus assumed conversions $ 7,952 33,531 $ 0.24 =====================================
For the three months ended March 31, 2000 ----------------------------------------- Income Shares Per Share (Numerator) (Denominator) Amount ----------- ------------- --------- Net Income $ (8,905) Less: Preferred Stock Dividends (172) ------------ ------------ NET INCOME PER SHARE - BASIC and DILUTIVE: Income available to common shareholders (9,077) 23,282 $ (0.39) ========================= =========