EX-11 2 september302011exhibit11.htm EXHIBIT 11 September 30 2011 Exhibit 11


EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except share data)
(Unaudited)




 
 
Three Months Ended
 
Six Months Ended
 
 
September 30,
 
September 30,
 
 
2011
2010
 
2011
2010
Loss per common share - basic
 
 
 
 
 
 
Net loss
 
$
(9,450
)
(23,362
)
 
(15,580
)
(25,855
)
Less: Capital Purchased Program "CPP" Preferred Dividends (1)
 
288

269

 
288

506

Dividends paid and undistributed (losses)/earnings allocated to participating securities
 
 
(172
)
 
 
(187
)
Net Loss Available to Common Shareholders
 
$
(9,738
)
$
(23,459
)
 
$
(15,868
)
$
(26,174
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
165,983

165,535

 
165,852

165,526

 
 
 
 
 
 
 
Loss per common share (2)
 
$
(58.67
)
$
(141.72
)
 
$
(95.68
)
$
(158.13
)
Diluted Loss per common share
 
N/A

N/A

 
N/A

N/A


(1) Includes $96 of accrued preferred dividends from the three month period ended March 31, 2011
(2) Common share count reflects 1 for 15 reverse stock split which was effective on October 27, 2011