EX-11.A 4 d78824exv11wa.htm EX-11.A exv11wa
EXHIBIT 11(a)
Lamar Advertising Company and Subsidiaries Earnings Per Share Computation Information
Years ended December 31, 2010, 2009 and 2008
                         
    Year Ended     Year Ended     Year Ended  
    December 31,     December 31,     December 31,  
    2010     2009     2008  
Net (loss) income applicable to common stock
  $ (40,467,000 )   $ (58,403,000 )   $ 1,797,000  
 
Weighted average common shares outstanding
    92,261,157       91,730,109       92,125,660  
Shares issueable upon exercise of stock options
                181,180  
Incremental shares of convertible debt
                 
 
                 
Weighted average common shares and common equivalents outstanding
    92,261,157       91,730,109       92,306,840  
Net (loss) income per common share basic and diluted
  $ (0.44 )   $ (0.64 )   $ 0.02  
 
                 
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, 2010, 2009 and 2008 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,  
    2010 2009     2008  
Net (loss) income applicable to common stock
  $ (40,467,000 ) $ (58,403,000 )   $ 1,797,000  
Income impact of assumed conversions
    49,477   2,295,455       4,256,797  
 
             
(Loss) income available to common shareholders plus assumed conversion
  $ (40,417,523 ) $ (56,107,545 )   $ 6,053,797  
 
             
 
Weighted average common shares outstanding
    92,261,157   91,730,109       92,125,660  
Shares issuable upon exercise of stock options
    412,493   105,985       181,180  
Incremental shares from convertible debt
    53,327   2,474,107       5,879,893  
 
             
 
Weighted average common shares plus dilutive potential common shares
    92,726,977   94,310,201       98,186,733  
 
             
Net (loss) income  per common share
  $ (0.44 ) $ (0.59 )   $ 0.06