EXHIBIT 11
Radian Group Inc.
Schedule of Net Income per Share
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||
(In thousands, except per-share amounts and market prices) | 2008 | 2007 | 2008 | 2007 | ||||||||||
Net (loss) income | $ | (392,524 | ) | $ | 21,083 | $ | (196,886 | ) | $ | 134,550 | ||||
Average diluted stock options outstanding | — | 2,939.9 | — | 3,074.3 | ||||||||||
Average exercise price per share | $ | — | $ | 45.36 | $ | — | $ | 45.37 | ||||||
Average market price per share—diluted basis | $ | — | $ | 58.84 | $ | — | $ | 58.37 | ||||||
Average common shares outstanding | 79,967 | 79,627 | 79,960 | 79,295 | ||||||||||
Increase in share due to exercise of options—diluted basis (1) | — | 918 | — | 984 | ||||||||||
Adjusted shares outstanding—diluted | 79,967 | 80,545 | 79,960 | 80,279 | ||||||||||
Net (loss) income per share—basic | $ | (4.91 | ) | $ | 0.26 | $ | (2.46 | ) | $ | 1.70 | ||||
Net (loss) income per share—diluted | $ | (4.91 | ) | $ | 0.26 | $ | (2.46 | ) | $ | 1.68 | ||||
(1) | As a result of our net loss for the three and six month periods ended June 30, 2008, 4,371,633 shares of common stock issued under our stock-based compensation plans were not included in the calculation of diluted earnings per share because they were anti-dilutive. |