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EXHIBIT 11 – COMPUTATION OF EARNINGS PER SHARE
(In thousands of dollars, except per share data) | Three Months Ended March 31, | |||||||
2006 | 2005 | |||||||
Numerator: | ||||||||
Net income (loss) | $ | 8,133 | $ | (5,892 | ) | |||
Effect of dilutive securities – none | — | — | ||||||
Numerator for net income per common share — diluted | $ | 8,133 | $ | (5,892 | ) | |||
Denominator: | ||||||||
Weighted average common shares | 350,001 | 315,000 | ||||||
Effect of dilutive securities – none | — | — | ||||||
Denominator for net income per common share — diluted | 350,001 | 315,000 | ||||||
Net income (loss) per common share: | ||||||||
Basic | $ | .02 | $ | (.02 | ) | |||
Diluted | $ | .02 | $ | (.02 | ) | |||