Exhibit 11
Computations of Earnings Per Common Share
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1999 |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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Net |
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Per Share |
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Net |
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Per Share |
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Loss |
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Shares |
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Amount |
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Loss |
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Shares |
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Amount |
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(In thousands, except per share data) |
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Basic EPS |
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Net income (loss) available to common shareholders |
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$ |
(3,167 |
) |
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15,702 |
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$ |
(0.20 |
) |
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$ |
(5,059 |
) |
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15,671 |
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$ |
(0.32 |
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Effect of Dilutive Securities Stock option plans |
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— |
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— |
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Dilutive EPS |
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Net income (loss) available to common shareholders and
assumed conversions |
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$ |
(3,167 |
) |
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15,702 |
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$ |
(0.20 |
) |
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$ |
(5,059 |
) |
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15,671 |
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$ |
(0.32 |
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[Additional columns below]
[Continued from above table, first column(s) repeated]
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2000 |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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Net |
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Per Share |
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Net |
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Per Share |
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Income |
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Shares |
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Amount |
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Income |
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Shares |
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Amount |
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(In thousands, except per share data) |
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Basic EPS |
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Net income (loss) available to common shareholders |
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$ |
3,632 |
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20,384 |
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$ |
0.18 |
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$ |
16,460 |
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20,272 |
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$ |
0.81 |
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Effect of Dilutive Securities Stock option plans |
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2,346 |
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2,472 |
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Dilutive EPS |
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Net income (loss) available to common shareholders and
assumed conversions |
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$ |
3,632 |
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22,730 |
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$ |
0.16 |
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$ |
16,460 |
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22,744 |
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$ |
0.72 |
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Note: The Company’s subordinated debt, which was
exchangeable into 2.8 million shares of the Company’s
Class A Common Stock, was outstanding during the six months
ended June 30, 1999 but was not included in the computation
of diluted earnings per share because the effect would have been
anti-dilutive. Options to purchase 2.3 million shares of
Class A Common Stock were outstanding during the six months
ended June 30, 1999, but were not included in the
computation of diluted earnings per share because the effect
would have been anti-dilutive.
17
