EXHIBIT 11 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS ------------------------------------------------ (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30 September 30 -------------------- -------------------- 2000 1999 2000 1999 -------------------- -------------------- Net income $ 12,291 $ 16,977 $ 35,524 $ 47,175 ==================== ==================== Average common shares outstanding 47,066 47,464 47,073 47,389 Common stock equivalents (1) 125 277 187 259 -------------------- -------------------- Diluted shares outstanding 47,191 47,741 47,260 47,648 ==================== ==================== Basic earnings per share $ .26 $ .36 $ .75 $ 1.00 ==================== ==================== Diluted earnings per share $ .26 $ .36 $ .75 $ .99 ==================== ==================== (1) Common stock equivalents represent the dilutive effect of outstanding stock options for all periods presented.