EX-11 8 h95164ex11.txt COMPUTATION OF BASIC & DILUTED INCOME (LOSS) EXHIBIT 11 ROWAN COMPANIES, INC. COMPUTATION OF BASIC AND DILUTED INCOME (LOSS) PER SHARE (in thousands except per share amounts)
For the Year Ended December 31, ---------------------------------------------- 2001 2000 1999 ------- ------- -------- Weighted average shares of common stock outstanding 94,173 92,562 83,176 Stock options (treasury stock method) 702 1,007 Shares issuable from assumed conversion of floating rate subordinated debentures 936 1,068 ------- ------- -------- Weighted average shares for diluted income (loss) per share calculation 95,811 94,637 83,176 ======= ======= ======== Net income (loss) for basic calculation $76,998 $70,213 $ (9,666) Charges related to dilutive securities ------- ------- -------- Net income (loss) for diluted calculation $76,998 $70,213 $ (9,666) ======= ======= ======== Basic income (loss) per share $ .82 $ .76 $ (.12) ======= ======= ======== Diluted income (loss) per share: $ .80 $ .74 $ (.12) ======= ======= ========
Note: Reference is made to Note 1 to Consolidated Financial Statements regarding computation of per share amounts.