EXHIBIT 11
WILLBROS GROUP, INC.
COMPUTATION OF INCOME (LOSS) PER COMMON AND COMMON EQUIVALENT SHARE
(In thousands, except share and per share amounts)
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
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1997 1996 1997 1996
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PRIMARY
Net income (loss) $ 3,883 $ (2,841) $ 9,362 $ 589
Preferred dividends - - - (1,448)
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Net income (loss)
applicable to
common shares $ 3,883 $ (2,841) $ 9,362 $ (859)
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Weighted average number
of common and common
equivalent shares
outstanding 14,394,633 14,210,653 14,390,062 13,891,578
Adjustment to reflect
common shares issued
during the twelve months
prior to the initial
public offering as out-
standing for all periods
presented using the
"treasury stock" method - - - 172,180
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Weighted average number of
common and common equivalent
shares outstanding 14,394,633 14,210,653 14,390,062 14,063,758
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Income (loss) per common and
common equivalent share:
Net income (loss) $ .27 $ (.20) $ .65 $ .04
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Net income (loss) applicable
to common shares $ .27 $ (.20) $ .65 $ (.06)
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There is no significant difference between primary and fully diluted
income (loss) per share.