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EXHIBIT 11 - Statement re computation of per share earnings
Three Months Ended March 31,
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1998 1997
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(In thousands, except share and per-share amounts)
Calculation of basic earnings per share:
Income from continuing operations $ 18,053 $ 22,405
Less preferred stock dividends (87) (75)
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Income from continuing operations applicable to
common stock $ 17,966 $ 22,330
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Total weighted average shares outstanding 30,727,958 28,034,025
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Basic EPS from continuing operations $ 0.58 $ 0.80
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Calculation of diluted earnings per share:
Income from continuing operations $ 18,053 $ 22,405
Less preferred stock dividends (87) (75)
Dilutive effect on earnings from conversion of
mandatorily redeemable convertible
preferred securities 327
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Income from continuing operations applicable to
common stock $ 18,293 $ 22,330
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Weighted average shares outstanding 30,727,958 28,034,025
Stock option conversion 2,415,405 1,460,716
Dilutive effect of conversion of mandatorily redeemable
convertible preferred securities 619,048
Earnings contingency 59,480
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Total weighted average shares outstanding 33,821,891 29,494,741
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Diluted EPS from continuing operations $ 0.54 $ 0.76
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