EX-11.1 2 rdn-ex111_2012930xq3.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS RDN-EX11.1_2012.9.30-Q3



EXHIBIT 11

Radian Group Inc.
Schedule of Net (Loss) Income per Share
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
(In thousands, except per-share amounts and market prices)
2012
 
2011
 
2012
 
2011
Net (loss) income
$
14,325

 
$
183,568

 
$
(274,166
)
 
$
423,689

Average diluted stock options outstanding
1,751

 
449

 
—

 
987

Average exercise price per share
$
2.46

 
$
2.48

 
$
—

 
$
3.08

Average market price per share—diluted basis
$
3.49

 
$
3.07

 
$
—

 
$
5.20

Average common shares outstanding
132,521

 
132,364

 
132,530

 
132,366

Increase in shares due to potential exercise of common stock equivalents—diluted basis (1)
1,512

 
1,149

 
—

 
1,501

Adjusted shares outstanding—diluted
134,033

 
133,513

 
132,530

 
133,867

Net (loss) income per share—basic
$
0.11

 
$
1.39

 
$
(2.07
)
 
$
3.20

Net (loss) income per share—diluted
$
0.11

 
$
1.37

 
$
(2.07
)
 
$
3.16

________________

(1)
For the three months ended September 30, 2012, 2,479,966 shares of our common stock equivalents issued under our stock-based compensation plans were not included in the calculation of diluted net income per share as of such date because they were anti-dilutive. As a result of our net loss for the nine months ended September 30, 2012, 5,890,581 shares of our common stock equivalents issued under our stock-based compensation plans were not included in the calculation of diluted net loss per share as of such date because they were anti-dilutive. For the three and nine months ended September 30, 2011, 3,152,395 shares of our common stock equivalents issued under our stock-based compensation plans were not included in the calculation of diluted net income per share as of such date because they were anti-dilutive.