EX-11 3 g84438exv11.txt EX-11 STATEMENT RE: COMPUTATION PER SHARE EARNINGS . . . Exhibit 11 EARNINGS PER SHARE The following reconciles the numerators and denominators of the basic and diluted earnings per share.
FOR THE THREE MONTHS ENDED JUNE 30, ------------------------------ (In thousands, except share data) 2003 2002 ------------ ------------- BASIC EARNINGS PER SHARE Income (loss) from continuing operations $ 17,209 $ (3,487) Basic weighted average number of common shares outstanding 58,321,020 57,973,880 ------------ ------------- Basic earnings per share from continuing operations $ 0.30 $ (0.06) ------------ ------------- Extraordinary item $ -- $ 23,810 Basic weighted average number of common shares outstanding 58,321,020 57,973,880 ------------ ------------- Basic earnings per share from continuing operations $ 0.00 $ 0.41 ------------ ------------- Net income $ 17,209 $ 20,323 Basic weighted average number of common shares outstanding 58,321,020 57,973,880 ------------ ------------- BASIC EARNINGS PER SHARE $ 0.30 $ 0.35 ============ ============= DILUTED EARNINGS PER SHARE Income from continuing operations $ 17,209 $ (3,487) Interest expense on convertible debentures 129 -- ------------ ------------- Income available after assumed conversion $ 17,338 $ (3,487) ------------ ------------- Basic weighted average shares outstanding 58,321,020 57,973,880 Common stock equivalents resulting from convertible debentures 1,213,470 -- Common stock equivalents resulting from restricted stock and options 2,364,434 -- ------------ ------------- Diluted weighted average shares outstanding 61,898,924 57,973,880 ------------ ------------- Diluted earnings per share from continuing operations $ 0.28 $ (0.06) ------------ ------------- Extraordinary item $ -- $ 23,810 Diluted weighted average shares outstanding 61,898,924 57,973,880 ------------ ------------- Diluted earnings per share from continuing operations $ -- 0.41 ------------ ------------- Income available after assumed conversion $ 17,338 $ 20,323 Diluted weighted average shares outstanding 61,898,924 57,973,880 ------------ ------------- DILUTED EARNINGS PER SHARE $ 0.28 $ 0.35 ============ =============
Exhibit 11 EARNINGS PER SHARE The following reconciles the numerators and denominators of the basic and diluted earnings per share.
FOR THE SIX MONTHS ENDED JUNE 30, ------------------------------ (In thousands, except share data) 2003 2002 ------------ ------------- BASIC EARNINGS PER SHARE Income from continuing operations $ 31,567 $ 9,093 Basic weighted average number of common shares outstanding 58,246,733 57,918,382 ------------ ------------- Basic earnings per share from continuing operations $ 0.54 $ 0.16 ------------ ------------- Extraordinary item $ -- $ 23,810 Basic weighted average number of common shares outstanding 58,246,733 57,918,382 ------------ ------------- Basic earnings per share from extraordinary item $ -- $ 0.41 ------------ ------------- Cumulative effect of a change in accounting principle $ -- $ (15,107) Basic weighted average number of common shares outstanding 58,246,733 57,918,382 ------------ ------------- Basic loss per share from cumulative effect of a change in accounting principle $ -- $ (0.26) ------------ ------------- Net income $ 31,567 $ 17,796 Basic weighted average number of common shares outstanding 58,246,733 57,918,382 ------------ ------------- BASIC EARNINGS PER SHARE $ 0.54 $ 0.31 ============ ============= DILUTED EARNINGS PER SHARE Income from continuing operations $ 31,567 $ 9,093 Interest expense on convertible debentures 570 -- ------------ ------------- Income available after assumed conversion $ 32,137 $ 9,093 ------------ ------------- Basic weighted average shares outstanding 58,246,733 57,918,382 Common stock equivalents resulting from convertible debentures 2,645,093 -- Common stock equivalents resulting from restricted stock and options 2,155,856 2,968,980 ------------ ------------- Diluted weighted average shares outstanding 63,047,682 60,887,362 ------------ ------------- Diluted earnings per share from continuing operations $ 0.51 $ 0.15 ------------ ------------- Extraordinary item $ -- $ 23,810 Diluted weighted average shares outstanding 63,047,682 60,887,362 ------------ ------------- Diluted earnings per share from extraordinary item 0.00 0.39 ------------ ------------- Cumulative effect of a change in accounting principle -- $ (15,107) Diluted weighted average shares outstanding 63,047,682 60,887,362 ------------ ------------- Diluted earnings (loss) per share from cumulative effect of a change in accounting principle $ 0.00 $ (0.25) ------------ ------------- Income available after assumed conversion $ 32,137 $ 17,796 Diluted weighted average shares outstanding 63,047,682 60,887,362 ------------ ------------- DILUTED EARNINGS PER SHARE $ 0.51 $ 0.29 ============ =============