STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
Computations of net income per share for the years ended
December 31, 1995, 1994, and 1993 are as follows (in thousands):
1995 1994 1993
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PRIMARY
Net income (loss) $ 67,337 $(183,581) $ 21,510
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Average common shares outstanding 29,708 23,138 21,309
Dilutive common equivalent shares
issuable upon the exercise of
options currently outstanding
to purchase common shares 915 0 437
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30,623 23,138 21,746
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Net income (loss) per share $ 2.20 $ (7.93) $ .99
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FULLY DILUTED
Net income (loss) $ 67,337 $(183,581) $ 21,510
Add: Interest expense
related to convertible Debentures 15,736 1,241 0
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Adjusted net income $ 83,073 $ (182,340) $ 21,510
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Average common shares outstanding 29,708 23,138 21,309
Dilutive common equivalent shares
issuable upon the exercise of
options currently outstanding
to purchase common shares 1,073 680 437
Conversion of Debentures 7,200 2,869 0
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37,981 26,687 21,746
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Net income (loss) per share $ 2.19 $ (6.83) $ .99
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