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Previous: NABORS INDUSTRIES INC, 10-Q, 2000-11-14 |
Next: NABORS INDUSTRIES INC, 10-Q, EX-15.1, 2000-11-14 |
<PAGE> 1
EXHIBIT 11
NABORS INDUSTRIES, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
2000 1999 2000 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Basic:
Weighted average number of shares outstanding 146,062 114,382 143,660 106,887
------------- ------------- ------------- -------------
Net income $ 38,707 $ 4,741 $ 82,444 $ 20,003
------------- ------------- ------------- -------------
Earnings per share $ .26 $ .04 $ .57 $ .19
------------- ------------- ------------- -------------
Diluted:
Weighted average number of shares outstanding 146,062 114,382 143,660 106,887
Net effect of dilutive stock options and warrants-
based on the treasury stock method using
average market price 7,475 8,717 8,051 8,717
Assumed conversion of zero coupon convertible
senior debentures 8,859 -- -- --
------------- ------------- ------------- -------------
Total 162,396 123,099 151,711 115,604
------------- ------------- ------------- -------------
Net income $ 38,707 $ 4,741 $ 82,444 $ 20,003
Add zero coupon convertible senior debentures
interest expense, net of tax effect
1,972 -- -- --
------------- ------------- ------------- -------------
Adjusted Net Income $ 40,679 $ 4,741 $ 82,444 $ 20,003
------------- ------------- ------------- -------------
Earnings per share $ .25 $ .04 $ .54 $ .17
------------- ------------- ------------- -------------
</TABLE>
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