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EXHIBIT 11.1 COMPUTATION OF NET INCOME (LOSS) PER SHARE
1999 1998 1997
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
Basic:
Net (loss) income attributable to common shares $(27,806) $ 20,552 $ (8,263)
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Weighted average common shares outstanding 22,088 21,905 18,651
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Per share amount $ (1.26) $ 0.94 $ (0.44)
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Diluted:
Net (loss) income $(27,806) $ 20,552 $ (8,263)
Net effect of convertible debentures based
on the if-converted method, assuming
100% conversion:
$35,000,000, 6.75%, due 2006 1,563 1,563 2,363
$50,000,000, 7.0%, due 2004 2,349 2,349 2,178
$125,000,000, 5.25%, due 2002 5,180 5,180 219
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Net (loss) income attributable to common shares $(18,714) $ 29,644 $ (3,504)
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Weighted average common shares outstanding 22,088 21,905 18,651
Net effect of convertible debentures based on the if-converted method,
assuming 100% conversion:
$35,000,000, 6.75%, due 2006 1,717 1,717 1,561
$50,000,000, 7.0%, due 2004 2,469 2,469 1,515
$125,000,000, 5.25%, due 2002 5,000 5,000 143
Net effect of dilutive stock options based
on the treasury stock method, using
average market price 236 523 380
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Totals $ 31,510 $ 31,614 $ 22,250
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Per share amount $ (0.59) $ 0.94 $ (0.16)
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