EX-11 12 h33740exv11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS exv11
 

EXHIBIT 11 – Computation of Per Share Earnings
                         
(In thousands, except per share data)   2005     2004     2003  
NUMERATOR:
                       
Income (loss) before cumulative effect of a change in accounting principle
  $ 61,573     $ 7,478     $ (34,993 )
Cumulative effect of a change in accounting principle
    ¾       (162,858 )     ¾  
 
                 
Net income (loss)
    61,573       (155,380 )     (34,993 )
 
                       
Effect of dilutive securities:
                       
 
                       
None
    ¾       ¾       ¾  
 
                 
Numerator for net income (loss) per common share - diluted
  $ 61,573     $ (155,380 )   $ (34,993 )
 
                 
DENOMINATOR:
                       
Weighted average common shares
    319,890       315,000       315,000  
 
                       
Effect of dilutive securities:
                       
Stock options and restricted stock awards
    31       ¾       ¾  
 
                 
Denominator for net income (loss) per common share - diluted
    319,921       315,000       315,000  
 
                 
 
                       
Net income (loss) per common share:
                       
Income before cumulative effect of a change in accounting principle — Basic
  $ .19     $ .02     $ (.11 )
Cumulative effect of a change in accounting principle — Basic
    ¾       (.52 )     ¾  
 
                 
Net income (loss) — Basic
  $ .19     $ (.50 )   $ (.11 )
 
                 
Income before cumulative effect of a change in accounting principle — Diluted
  $ .19     $ .02     $ (.11 )
Cumulative effect of a change in accounting principle — Diluted
    ¾       (.52 )     ¾  
 
                 
Net income (loss) — Diluted
  $ .19     $ (.50 )   $ (.11 )