EX-11 4 g74663nvex11.htm COMPUTATION OF EARNINGS PER SHARE Computation of Earnings Per Share
 

Exhibit 11

Noven Pharmaceuticals, Inc.
Computation of Earnings per Share
(in thousands except per share amounts)

                         
    2001   2000   1999
   
 
 
Basic earnings:
                        
Net income
   $ 12,091     $ 19,634     $ 10,460  
Weighted average number of common shares outstanding
     22,367       21,914       21,508  
 
    
     
     
 
Basic earnings per share
   $ 0.54     $ 0.90     $ 0.49  
 
    
     
     
 
Diluted earnings:
                        
Net income
   $ 12,091     $ 19,634     $ 10,460  
Weighted average number of common shares outstanding
     22,367       21,914       21,508  
Potential dilution on exercise of stock options
     1,144       1,335       389  
 
    
     
     
 
Weighted average number of common shares outstanding, as adjusted
     23,511       23,249       21,897  
 
    
     
     
 
Diluted earnings per share
   $ 0.51     $ 0.84     $ 0.48  
 
    
     
     
 

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