EX-11 2 exhibit11-1.txt EXHIBIT 11.1 Universal Insurance Holdings, Inc. Statement Regarding the Computation of Per Share Income The following table reconciles the numerator (earnings) and denominator (shares) of the basic and diluted earnings per share computations for net income for the three month periods ended March 31, 2008 and 2007.
Three Months Ended Three Months Ended March 31, 2008 March 31, 2007 -------------- -------------- Income Available Income Available to Common Per-Share to Common Per-Share Stockholders Shares Amount Stockholders Shares Amount Net income $14,308,316 $12,374,829 Less: preferred stocks dividends (12,488) (12,488) ------------ ------------ Income available to common stockholders $14,295,828 36,946,000 $0.39 $12,362,341 34,999,000 $0.35 ====== ====== Effect of dilutive securities: Stock options and warrants 0 3,813,000 (0.04) 0 5,536,000 (0.05) Preferred stock 12,488 568,000 0 12,488 568,000 0 ------------ ---------- ------ ------------ ---------- ------ Income available to common stockholders and assumed conversion $14,308,316 41,327,000 $0.35 $12,374,829 41,103,000 $0.30 ------------ ---------- ------ ------------ ----------- -----