EX-11 2 0002.txt COMPUTATION OF PER SHARE EARNINGS COMPUTATION OF EARNINGS PER COMMON SHARE (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, 1999 2000 1999 2000 ------------ ------------ ------------- ------------- BASIC EARNINGS Income before the cumulative effect of a change in accounting principles and extraodinary items .............. $ 16,264 $ 24,397 $ 27,780 $ 35,154 Cumulative effect of a change in in accounting principles ..................................... -- -- (5,315) -- -------- -------- -------- -------- Income before extraordinary items .............................. 16,264 24,397 22,465 35,154 Extraordinary items ............................................ -- -- -- (302) -------- -------- -------- -------- Net earnings ................................................... $ 16,264 $ 24,397 $ 22,465 $ 34,852 ======== ======== ======== ======== Shares: Weighted average number of common shares outstanding ......................................... 51,321 45,120 51,829 46,536 ======== ======== ======== ======== Basic earnings per common share: Income before the cumulative effect of a change in accounting principles and extraodinary items ............ $ 0.32 $ 0.54 $ 0.54 $ 0.75 Cumulative effect of a change in accounting principles ........................................ -- -- (0.10) -- Extraordinary items ............................................ -- -- -- -- -------- -------- -------- -------- Net earnings ............................................... $ 0.32 $ 0.54 $ 0.44 $ 0.75 ======== ======== ======== ======== DILUTED EARNINGS Income before the cumulative effect of a change in accounting principles and extraodinary items .............. $ 16,264 $ 24,397 $ 27,780 35,154 Cumulative effect of a change in accounting principles ........................................ -- -- (5,315) -- -------- -------- -------- -------- Income before extraordinary items .............................. 16,264 24,397 22,465 35,154 Extraordinary items ............................................ -- -- -- (302) -------- -------- -------- -------- Net earnings as adjusted ................................... $ 16,264 $ 24,397 $ 22,465 $ 34,852 ======== ======== ======== ======== Shares: Weighted average number of common shares outstanding ......................................... 51,321 45,120 51,829 46,536 Options issued ............................................... 1,653 733 1,447 695 -------- -------- -------- -------- Weighted average number of common shares outstanding as adjusted ............................... 52,974 45,853 53,276 47,231 ======== ======== ======== ======== Diluted earnings per common share: Income before the cumulative effect of a change in accounting principles ................................... $ 0.31 $ 0.53 $ 0.52 $ 0.74 Cumulative effect of a change in accounting principles ........................................ -- -- (0.10) -- Extraordinary items ............................................ -- -- -- -- -------- -------- -------- -------- Net earnings ................................................. $ 0.31 $ 0.53 $ 0.42 $ 0.74 ======== ======== ======== ========