EX-11.1 3 w54995ex11-1.txt STATEMENT RE:COMPUTATION OF PER SHARE EARNINGS Exhibit 11.1 RADIAN GROUP INC. SCHEDULE OF NET INCOME PER SHARE
QUARTER NINE MONTHS ENDED SEPTEMBER 30 ENDED SEPTEMBER 30 -------------------- ------------------ 2001 2000(1) 2001 2000(1) ---- ---- ---- ---- (In thousands, except per-share amounts and market prices) Net income....................................................... $ 91,532 $ 64,069 $ 264,366 $ 184,527 Preferred stock dividend adjustment ............................. (825) (825) (2,475) (2,475) --------- --------- --------- ---------- Adjusted net income.............................................. $ 90,707 $ 63,244 $ 261,891 $ 182,052 Average diluted stock options outstanding........................ 5,359.8 3,706.7 6,029.0 3,966.2 Average exercise price per share ................................ 24.46 15.91 24.81 15.38 Average market price per share - diluted basis .................. 39.07 31.21 36.46 25.78 Average common shares outstanding ............................... 93,281 75,480 89,360 75,167 Increase in shares due to exercise of options - diluted basis .................................................. 1,503 903 1,532 962 Adjusted shares outstanding - diluted ........................... 94,784 76,383 90,892 76,129 Net income per share - basic .................................... $ 0.97 $ 0.84 $ 2.93 $ 2.42 ========= ========= ========= ========= Net income per share - diluted................................... $ 0.96 $ 0.83 $ 2.88 $ 2.39 ========= ========= ========= =========
(1) All share and per-share data have been restated to reflect the stock split. See note 4 to Notes to Consolidated Financial Statements.