EX-11 2 exhibit11one.txt EXHIBIT 11-1 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 six-month and three-month periods ended June 30, 2008 and 2007, respectively.
Six Months Ended Six Months Ended June 30, 2008 June 30, 2007 ---------------- ---------------- Income Available Income Available to Common Per-Share to Common Per-Share Stockholders Shares Amount Stockholders Shares Amount ------------ ------ --------- ---------------- ------ --------- Net income $25,506,466 $29,928,263 Less: preferred stocks dividends (24,975) (24,975) ---------------- -------------- Income available to common stockholders $25,481,491 37,421,000 $0.68 $29,903,288 35,528,000 $0.84 ========== ========== Effect of dilutive securities: Stock options and warrants 0 2,842,000 (0.05) 0 5,121,000 (0.10) Preferred stock 24,975 568,000 (0.01) 24,975 568,000 (0.01) ---------------- ------------- ---------- -------------- ------------ ---------- Income available to common stockholders and assumed conversion $25,506,466 40,831,000 $0.62 $29,928,263 41,217,000 $0.73 ================ ============= ========== ============== ============ ==========
Three Months Ended Three Months Ended June 30, 2008 June 30, 2007 ------------------ ------------------ Income Available Income Available to Common Per-Share to Common Per-Share Stockholders Shares Amount Stockholders Shares Amount ------------ ------ --------- ----------------- ------ --------- Net income $11,198,150 $17,553,434 Less: preferred stocks dividends (12,488) (12,488) ---------------- -------------- Income available to common stockholders $11,185,662 37,897,000 $0.30 $17,540,946 35,577,000 $0.49 ========== ========== Effect of dilutive securities: Stock options and warrants 0 1,870,000 (0.01) 0 4,706,000 (0.06) Preferred stock 12,488 568,000 (0.01) 12,488 568,000 0 ---------------- ------------- ---------- -------------- ------------ ---------- Income available to common stockholders and assumed conversion $11,198,150 40,335,000 $0.28 $17,553,434 40,851,000 $0.43 ================ ============= ========== ============== ============ ==========