EX-11 4 a77024ex11.txt EXHIBIT 11 EXHIBIT 11: STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (AMOUNTS IN THOUSANDS, EXCEPT SHARE DATA)
THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, ----------------------------- ----------------------------- 2001 2000 2001 2000 ------------ ------------ ------------ ------------ BASIC: Net earnings before extraordinary item $ 41,722 $ 22,839 $ 91,683 $ 50,708 Adjustment for dividends on convertible preferred shares -- (170) (308) (531) ------------ ------------ ------------ ------------ Net earnings before extraordinary item available to common stockholders 41,722 22,669 91,375 50,177 Extraordinary item (4,527) -- (4,527) -- ------------ ------------ ------------ ------------ Net earnings available to common stockholders $ 37,195 $ 22,669 $ 86,848 $ 50,177 ============ ============ ============ ============ Weighted average common shares outstanding 13,415,978 12,992,492 13,380,127 13,156,245 Net earnings per common share before extraordinary item $ 3.11 $ 1.74 $ 6.83 $ 3.81 Extraordinary item (0.34) -- (0.34) -- ------------ ------------ ------------ ------------ Net earnings per common share $ 2.77 $ 1.74 $ 6.49 $ 3.81 ============ ============ ============ ============ DILUTED: Net earnings before extraordinary item $ 41,722 $ 22,839 $ 91,683 $ 50,708 Extraordinary item (4,527) -- (4,527) -- ------------ ------------ ------------ ------------ Net earnings available to common stockholders $ 37,195 $ 22,839 $ 87,156 $ 50,708 ============ ============ ============ ============ Weighted average common shares outstanding 13,415,978 12,992,492 13,380,127 13,156,245 Common stock equivalents: Stock options 630,367 305,741 598,884 223,598 Equity incentive plan 81,196 79,891 72,198 78,384 Conversion of preferred shares 227,181 313,492 265,992 327,641 ------------ ------------ ------------ ------------ Total 14,354,722 13,691,616 14,317,201 13,785,868 ============ ============ ============ ============ Net earnings per common share before extraordinary item $ 2.91 $ 1.67 $ 6.40 $ 3.68 Extraordinary item (0.32) -- (0.32) -- ------------ ------------ ------------ ------------ Net earnings per common share $ 2.59 $ 1.67 $ 6.08 $ 3.68 ============ ============ ============ ============
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