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EXHIBIT 11 – COMPUTATION OF EARNINGS PER SHARE
Three Months Ended | ||||||||
March 31, | ||||||||
(In thousands of dollars, except per share data) | 2007 | 2006 | ||||||
Numerator: | ||||||||
Net income (loss) | $ | 16,084 | $ | 8,133 | ||||
Effect of dilutive securities – none | — | — | ||||||
Numerator for net income per common share – diluted | $ | 16,084 | $ | 8,133 | ||||
Denominator: | ||||||||
Weighted average common shares | 354,603 | 350,001 | ||||||
Effect of dilutive securities | 902 | — | ||||||
Denominator for net income per common share – diluted | 355,505 | 350,001 | ||||||
Net income (loss) per common share: | ||||||||
Basic | $ | .05 | $ | .02 | ||||
Diluted | $ | .05 | $ | .02 | ||||