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Previous: ORBITAL SCIENCES CORP /DE/, 10-Q/A, 2000-06-28 |
Next: ORBITAL SCIENCES CORP /DE/, 10-Q/A, EX-27, 2000-06-28 |
<PAGE> 1
EXHIBIT 11.
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
THREE MONTH PERIOD ENDED SEPTEMBER 30, 1996 (Restated)
------------------------------------------------------- ----------------------------------
ASSUMING
PRIMARY FULL DILUTION
------------ ------------------
<S> <C> <C>
WEIGHTED AVERAGE OF OUTSTANDING SHARES 28,989,749 28,989,749
COMMON EQUIVALENT SHARES:
OUTSTANDING STOCK OPTIONS 814,107 814,257
OTHER POTENTIALLY DILUTIVE SECURITIES:
CONVERTIBLE DEBENTURES (2) N/A 1,859,145
------------ ---------------
SHARES USED IN COMPUTING
NET INCOME PER SHARE 29,803,856 31,663,151
============ ===============
NET INCOME $ 4,082,000 $ 4,082,000
ADJUSTMENTS ASSUMING FULL DILUTION:
INTEREST EXPENSE, NET OF TAXES (2) N/A 188,000
------------ ---------------
NET INCOME $ 4,082,000 $ 4,270,000
NET INCOME PER SHARE $ 0.14 $ 0.14
DILUTION PERCENTAGE ASSUMING FULL DILUTION (1) N/A -1.538%
NET INCOME PER SHARE $ 0.14 $ 0.14
============ ===============
<CAPTION>
NINE MONTH PERIOD ENDED SEPTEMBER 30, 1996 (Restated)
------------------------------------------------------- ----------------------------------
ASSUMING
PRIMARY FULL DILUTION
------------ -----------------
<S> <C> <C>
WEIGHTED AVERAGE OF OUTSTANDING SHARES 27,563,151 27,563,151
COMMON EQUIVALENT SHARES:
OUTSTANDING STOCK OPTIONS 613,064 808,361
OTHER POTENTIALLY DILUTIVE SECURITIES:
CONVERTIBLE DEBENTURES (2) N/A 3,203,822
------------ --------------
SHARES USED IN COMPUTING
NET INCOME PER SHARE 28,176,215 31,575,334
============ ==============
NET INCOME $ 10,104,000 $10,104,000
ADJUSTMENTS ASSUMING FULL DILUTION:
INTEREST EXPENSE, NET OF TAXES (2) N/A 1,253,000
------------ --------------
NET INCOME $ 10,104,000 $11,357,000
============ ==============
NET INCOME PER SHARE $ 0.36 $ 0.36
DILUTION PERCENTAGE ASSUMING FULL DILUTION (1) N/A -0.302%
NET INCOME PER SHARE $ 0.36 $ 0.36
============ ==============
</TABLE>
NOTES:
(1) - PROVIDED THAT DILUTION IS GREATER THAN 3%, THE CONVERTIBLE DEBENTURES ARE
CONSIDERED DILUTIVE IN THE CALCULATION AND PRESENTATION OF PER SHARE
DATA.
(2) - THE CONVERTIBLE DEBENTURES WERE CONVERTED TO COMMON STOCK ON AUGUST 14,
1996. ACCORDINGLY, THE EFFECTS OF AN ASSUMED CONVERSION ARE INCLUDED ONLY
THROUGH THAT DATE.
18
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