1 EXHIBIT 11.1 COMPUTATION OF NET INCOME (LOSS) PER SHARE 1998 1997 1996 ------------------------------------------------ (IN THOUSANDS, EXCEPT PER SHARE DATA) Basic: Net income (loss) attributable to common shares $20,552 $(8,263) $(8,796) ============ ============= ============= Weighted average common shares outstanding 21,905 18,651 15,429 ============ ============= ============= Per share amount............................. $0.94 $ (0.44) $ (0.57) ============ ============= ============= Diluted: Net income (loss)............................ $20,552 $(8,263) $(8,796) Net effect of convertible debentures based on the if-converted method, assuming 100% conversion: $35,000,000, 6.75%, due 2006............. 1,563 2,363 1,457 $50,000,000, 7.0%, due 2004.............. 2,349 2,178 -- $125,000,000, 5.25%, due 2002............ 5,180 219 -- ============ ============= ============= Net income (loss) attributable to common shares $29,644 $(3,504) $(7,339) ============ ============= ============= Weighted average common shares outstanding 21,905 18,651 15,429 Net effect of convertible debentures based on the if-converted method, assuming 100% conversion: $35,000,000, 6.75%, due 2006............. 1,717 1,561 949 $50,000,000, 7.0%, due 2004.............. 2,469 1,515 -- $125,000,000, 5.25%, due 2002............ 5,000 143 -- Net effect of dilutive stock options based on the treasury stock method, using average market price....................... 523 380 314 ============ ============= ============= Totals................................... 31,614 22,250 16,692 ============ ============= ============= Per share amount............................. $0.94 $(0.16) $(0.44) ============ ============= ============= 54