<TABLE>
First Health Group Corp. and Subsidiaries EXHIBIT 11
COMPUTATION OF BASIC EARNINGS PER COMMON SHARE
(Unaudited)
Three Months Ended September 30,
---------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $20,753,000 $17,149,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 48,328,000 49,871,000
Other issuances of common stock ...... 196,000 69,000
Purchases of treasury stock .......... (630,000) (341,000)
---------- ----------
Weighted average common and common share
equivalents........................... 47,894,000 49,599,000
========== ==========
Net income per common share............. $ .43 $ .35
========== ==========
Nine Months Ended September 30,
---------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $60,898,000 $51,679,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 47,656,000 53,463,000
Other issuances of common stock ...... 929,000 157,000
Purchases of treasury stock .......... (757,000) (2,625,000)
---------- ----------
Weighted average common and common share
equivalents........................... 47,828,000 50,995,000
========== ==========
Net income per common share............. $ 1.27 $ 1.01
========== ==========
</TABLE>
<PAGE>
<TABLE>
First Health Group Corp. and Subsidiaries EXHIBIT 11
COMPUTATION OF DILUTED EARNINGS PER COMMON SHARE
(Unaudited)
Three Months Ended September 30,
---------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $20,753,000 $17,149,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 48,328,000 49,871,000
Other issuances of common stock ...... 196,000 69,000
Purchases of treasury stock .......... (630,000) (341,000)
Common Stock Equivalents:
Additional equivalent shares issuable from
assumed exercise of common stock options 1,981,000 789,000
---------- ----------
Weighted average common and common share
equivalents........................... 49,875,000 50,388,000
========== ==========
Net income per common share............. $ .42 $ .34
========== ==========
Nine Months Ended September 30,
---------------------------
2000 1999
---------- ----------
<S> <C> <C>
Net income ............................. $60,898,000 $51,679,000
========== ==========
Weighted average number of common shares
outstanding:
Shares outstanding from beginning of period 47,656,000 53,463,000
Other issuances of common stock ...... 929,000 157,000
Purchases of treasury stock .......... (757,000) (2,625,000)
Common Stock Equivalents:
Additional equivalent shares issuable from
assumed exercise of common stock options 1,927,000 534,000
---------- ----------
Weighted average common and common share
equivalents........................... 49,755,000 51,529,000
========== ==========
Net income per common share............. $ 1.22 $ 1.00
========== ==========
</TABLE>
