EX-11.A 7 d71171exv11wa.htm EX-11.A exv11wa
EXHIBIT 11(a)
Lamar Advertising Company and Subsidiaries Earnings Per Share Computation Information
Years ended December 31, 2009, 2008 and 2007
                         
    Year Ended     Year Ended     Year Ended  
    December 31,     December 31,     December 31,  
    2009     2008     2007  
Net (loss) income applicable to common stock
  $ (58,403,000 )   $ 1,797,000     $ 40,617,000  
 
Weighted average common shares outstanding
    91,730,109       92,125,660       96,779,009  
Shares issueable upon exercise of stock options
          181,180       774,898  
Incremental shares of convertible debt
                 
 
                 
Weighted average common shares and common equivalents outstanding
    91,730,109       92,306,840       97,553,907  
Net (loss) income per common share basic and diluted
  $ (0.64 )   $ 0.02     $ 0.42  
 
                 
The above earnings per share (EPS) calculations are submitted in accordance with Statement of Financial Accounting Standards No. 128. An EPS calculation in accordance with Regulation S-K item 601 (b) (11) is not shown above for the years ended December 31, 2009, 2008 and 2007 because it produces an antidilutive result. The following information is disclosed for purposes of calculating antidilutive EPS for that period.
                     
    Year Ended Year Ended     Year Ended  
    December 31, December 31,     December 31,  
    2009 2008     2007  
Net (loss) income applicable to common stock
  $ (58,403,000 ) $ 1,797,000     $ 40,617,000  
Income impact of assumed conversions
    2,295,455   4,256,797       4,496,500  
 
             
(Loss) income available to common shareholders plus assumed conversion
  $ (56,107,545 ) $ 6,053,797     $ 45,113,500  
 
             
 
Weighted average common shares outstanding
    91,730,109   92,125,660       96,779,009  
Shares issuable upon exercise of stock options
    105,985   181,180       774,898  
Incremental shares from convertible debt
    2,474,107   5,879,893       5,813,730  
 
             
 
Weighted average common shares plus dilutive potential common shares
    94,310,201   98,186,733       103,367,637  
 
             
Net (loss) income  per common share
  $ (0.59 ) $ 0.06     $ 0.44