EXHIBIT 11
Radian Group Inc.
Schedule of Net Income (Loss) per Share
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(In thousands, except per-share amounts and market prices) | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net income (loss) | $ | 137,115 | $ | (475,080 | ) | $ | 240,121 | $ | (785,435 | ) | |||||
Average diluted stock options outstanding | 1,030 | — | 1,030 | — | |||||||||||
Average exercise price per share | $ | 3.10 | $ | — | $ | 3.10 | $ | — | |||||||
Average market price per share—diluted basis | $ | 5.09 | $ | — | $ | 6.29 | $ | — | |||||||
Average common shares outstanding | 132,185 | 110,282 | 132,185 | 96,420 | |||||||||||
Increase in share due to potential exercise of common stock equivalents—diluted basis (1) | 1,429 | — | 1,539 | — | |||||||||||
Adjusted shares outstanding—diluted | 133,614 | 110,282 | 133,724 | 96,420 | |||||||||||
Net income (loss) per share—basic | $ | 1.04 | $ | (4.31 | ) | $ | 1.82 | $ | (8.15 | ) | |||||
Net income (loss) per share—diluted | $ | 1.03 | $ | (4.31 | ) | $ | 1.80 | $ | (8.15 | ) |
________________
(1) | For the three and six months ended June 30, 2011, 3,268,525 shares of our common stock equivalents issued under our stock-based compensation plans were not included in the calculation of diluted net income per share as of such date because they were anti-dilutive. As a result of our net loss for the three and six months ended June 30, 2010, 4,427,985 shares of our common stock equivalents issued under our stock-based compensations plans were not included in the calculation of diluted net loss per share because they were anti-dilutive. |