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Exhibit 11.1
RADIAN GROUP INC.
SCHEDULE OF NET INCOME PER SHARE
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QUARTER ENDED JUNE 30 SIX MONTHS ENDED JUNE 30
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2000 1999 2000 1999
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(In thousands, except per-share amounts and market prices)
Net income............................................................. $61,858 $25,094 $120,458 $62,447
Preferred stock dividend adjustment.................................... (825) (825) (1,650) (1,650)
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Adjusted net income.................................................... $61,033 $24,269 $118,808 $60,797
Average diluted stock options outstanding.............................. 1,957.2 2,413.6 2,048.0 2,459.3
Average exercise price per share....................................... 30.50 27.94 30.23 28.01
Average market price per share - diluted basis......................... 51.77 45.52 46.12 44.07
Average common shares outstanding...................................... 37,591 36,905 37,505 36,883
Increase in shares due to exercise of options -
diluted basis......................................................... 547 986 496 924
Adjusted shares outstanding - diluted.................................. 38,138 37,891 38,001 37,807
Net income per share - basic .......................................... $ 1.62 $ 0.66 $ 3.17 $ 1.65
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Net income per share - diluted......................................... $ 1.60 $ 0.64 $ 3.13 $ 1.61
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