EXHIBIT 11 – COMPUTATION OF EARNINGS PER SHARE
Nine Months Ended | Three Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands of dollars, except per share data) | 2006 | 2005 | 2006 | 2005 | ||||||||||||
Numerator: | ||||||||||||||||
Net income (loss) | $ | 88,013 | $ | 21,162 | $ | 31,833 | $ | 9,542 | ||||||||
Effect of dilutive securities – none | — | — | — | — | ||||||||||||
Numerator for net income per common share – diluted | $ | 88,013 | $ | 21,162 | $ | 31,833 | $ | 9,542 | ||||||||
Denominator: | ||||||||||||||||
Weighted average common shares | 351,434 | 315,000 | 354,253 | 315,000 | ||||||||||||
Effect of dilutive securities | 1 | — | 2 | — | ||||||||||||
Denominator for net income per common share – diluted | 351,435 | 315,000 | 354,255 | 315,000 | ||||||||||||
Net income (loss) per common share: | ||||||||||||||||
Basic | $ | .25 | $ | .07 | $ | .09 | $ | .03 | ||||||||
Diluted | $ | .25 | $ | .07 | $ | .09 | $ | .03 | ||||||||