EX-11 2 d444127dex11.htm EX-11 EX-11

EXHIBIT 11

COMPUTATION OF PER SHARE EARNINGS

Basic net income per common share is computed using the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed in accordance with the treasury stock method and the “if converted” method, which uses the weighted average number of common shares outstanding during the period and also includes the dilutive effect of potentially issuable common stock from outstanding stock options, warrants, and convertible debt. Common shares issuable upon exercise of certain options and warrants are not used in the calculation for the years ended December 31, 2008 to 2012, as the effect would be anti-dilutive.

 

     Year ended December 31,  
     2012     2011     2010     2009     2008  
     (In thousands of U.S. dollars except per share information)  

(Loss) income from continuing operations

   $ (42,264   $ (31,379   $ (9,270   $ (7,645   $ 1,367   

Income (loss) from discontinued operations, net of income tax

     87,962        963        (8,269     107,079        133,524   

Net income (loss) available to common shareholders

   $ 45,698      $ (30,416   $ (17,539   $ 99,434      $ 134,891   

Basic net income (loss) per common share

          

Continuing operations

   $ (0.84   $ (0.63   $ (0.18   $ (0.13   $ 0.02   

Discontinued operations

     1.75        0.02        (0.15     1.90        1.79   

Net income (loss)

   $ 0.91      $ (0.61   $ (0.33   $ 1.77      $ 1.81   

Diluted net income (loss) per common share

          

Continuing operations

   $ (0.84   $ (0.63   $ (0.18   $ (0.13   $ 0.07   

Discontinued operations

     1.75        0.02        (0.15     1.90        1.64   

Net income (loss)

   $ 0.91      $ (0.61   $ (0.33   $ 1.77      $ 1.71   

Weighted average number of common shares outstanding (in thousands)

     50,112        50,105        52,382        56,194        74,620   

Diluted weighted average number of common shares outstanding (in thousands)

     50,112        50,105        52,382        56,194        81,472