Exhibit 11 - COMPUTATION OF PER SHARE EARNINGS (Thousands of dollars, except per share data)
Six Months Ended June 30 Three Months Ended June 30 2002 2001 2002 2001 ---------- ---------- ----------- -----------
BASIC Average shares outstanding 60,092,322 59,999,194 60,239,065 60,015,025 Net income (loss) $13,148 $(12,352) $3,960 $(14,574)
Per share amount $0.22 $(0.21) $0.07 $(0.24) ===== ===== ===== =====
DILUTED Average shares outstanding 60,092,322 59,999,194 60,239,065 60,015,025
Effect of dilutive securities based on the treasury stock method using the average market price if higher than the exercise price 639,734 301,633 798,964 261,696 ---------- ---------- ---------- ---------- 60,732,056 60,200,827 61,038,029 60,276,721 Net income $13,148 $(12,352) $3,960 $(14,574)
Per share amount $0.22 $(0.21) $0.07 $(0.24) ===== ===== ===== =====