EXHIBIT 11
Radian Group Inc.
Schedule of Net (Loss) Income per Share
Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||||||
(In thousands, except per-share amounts and market prices) | 2009 | 2008 | 2009 | 2008 | |||||||||||
Net (loss) income | $ | (70,450 | ) | $ | 36,699 | $ | (56,012 | ) | $ | (160,187 | ) | ||||
Average diluted stock options outstanding | — | 471.8 | — | — | |||||||||||
Average exercise price per share | $ | — | $ | 2.48 | $ | — | $ | — | |||||||
Average market price per share—diluted basis | $ | — | $ | 3.04 | $ | — | $ | — | |||||||
Average common shares outstanding | 81,749 | 79,960 | 81,761 | 79,603 | |||||||||||
Increase in share due to exercise of common stock equivalents—diluted basis (1) | — | 511 | — | — | |||||||||||
Adjusted shares outstanding—diluted | 81,749 | 80,471 | 81,761 | 79,603 | |||||||||||
Net (loss) income per share—basic | $ | (0.86 | ) | $ | 0.46 | $ | (0.69 | ) | $ | (2.01 | ) | ||||
Net (loss) income per share—diluted | $ | (0.86 | ) | $ | 0.46 | $ | (0.69 | ) | $ | (2.01 | ) | ||||
(1) | As a result of our net loss for the three and nine months ended September 30, 2009, 4,752,900 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. As a result of our net loss for the nine months ended September 30, 2008, 5,235,491 shares of our common stock equivalents issued under our stock-based compensation plans were not included in the calculation of diluted net loss per share because they were anti-dilutive. For the three months ended September 30, 2008, 4,082,849 shares of our common stock equivalents were not included in the calculation of diluted earnings per share because they were anti-dilutive. |