Earnings Per Share

9 Months Ended

Sep. 30, 2011

4. EARNINGS PER SHARE

The calculation of earnings per share attributable to the Company is presented below (in thousands, except per share amounts):


	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2011		2010		2011		2010
Basic earnings per share:
Net income attributable to Oil States International, Inc.	$	91,851	$	46,346	$	228,171	$	124,066

Weighted average number of shares outstanding		51,264		50,282		51,144		50,108

Basic earnings per share	$	1.79	$	0.92	$	4.46	$	2.48

Diluted earnings per share:
Net income attributable to Oil States International, Inc.	$	91,851	$	46,346	$	228,171	$	124,066

Weighted average number of shares outstanding		51,264		50,282		51,144		50,108
Effect of dilutive securities:
Options on common stock		592		611		666		614
2 3/8% Convertible Senior Subordinated Notes		2,944		1,492		3,044		1,406
Restricted stock awards and other		160		153		174		176

Total shares and dilutive securities		54,960		52,538		55,028		52,304

Diluted earnings per share	$	1.67	$	0.88	$	4.15	$	2.37

Our calculation of diluted earnings per share for the three and nine months ended September 30, 2011 excludes 184,529 shares and 179,977 shares, respectively, issuable pursuant to outstanding stock options and restricted stock awards due to their antidilutive effect. Our calculation of diluted earnings per share for the three and nine months ended September 30, 2010 excludes 454,681 shares and 441,488 shares, respectively, issuable pursuant to outstanding stock options and restricted stock awards due to their antidilutive effect.