<TABLE>
First Health Group Corp. and Subsidiaries EXHIBIT 11
COMPUTATION OF BASIC EARNINGS PER COMMON SHARE
(Unaudited)
Three Months Ended June 30,
---------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $20,533,000 $16,950,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 47,696,000 51,288,000
Other issuances of common stock ...... 278,000 50,000
Purchases of treasury stock .......... (4,000) (912,000)
---------- ----------
Weighted average common and common share
equivalents........................... 47,970,000 50,426,000
========== ==========
Net income per common share............ $ .43 $ .34
========== ==========
Six Months Ended June 30,
-------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $40,145,000 $34,530,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 47,656,000 53,463,000
Other issuances of common stock ...... 619,000 86,000
Purchases of treasury stock .......... (413,000) (1,917,000)
---------- ----------
Weighted average common and common share
equivalents........................... 47,862,000 51,632,000
========== ==========
Net income per common share............ $ .84 $ .67
========== ==========
</TABLE>
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<TABLE>
First Health Group Corp. and Subsidiaries EXHIBIT 11
COMPUTATION OF DILUTED EARNINGS PER COMMON SHARE
(Unaudited)
Three Months Ended June 30,
---------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $20,533,000 $16,950,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 47,696,000 51,288,000
Other issuances of common stock ...... 278,000 50,000
Purchases of treasury stock .......... (4,000) (912,000)
Common Stock Equivalents:
Additional equivalent shares issuable from
assumed exercise of common stock options 2,014,000 361,000
---------- ----------
Weighted average common and common share
equivalents........................... 49,984,000 50,787,000
========== ==========
Net income per common share............. $ .41 $ .33
========== ==========
Six Months Ended June 30,
-------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $40,145,000 $34,530,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 47,656,000 53,463,000
Other issuances of common stock ...... 619,000 86,000
Purchases of treasury stock .......... (413,000) (1,917,000)
Common Stock Equivalents:
Additional equivalent shares issuable from
assumed exercise of common stock options 1,910,000 367,000
---------- ----------
Weighted average common and common share
equivalents........................... 49,772,000 51,999,000
========== ==========
Net income per common share............. $ .81 $ .66
========== ==========
</TABLE>
