Note 5 - Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Text Block]

Earnings Per Share [Text Block]

5.  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 JUNE 30,				SIX MONTHS ENDED JUNE 30,
	2013		2012		2013		2012
Basic earnings per share:
Net income attributable to Oil States International, Inc.	$	76,525	$	111,234	$	178,714	$	246,298
Weighted average number of shares outstanding		55,061		51,637		54,935		51,533
Basic earnings per share	$	1.39	$	2.15	$	3.25	$	4.78
Diluted earnings per share:
Net income attributable to Oil States International, Inc.	$	76,525	$	111,234	$	178,714	$	246,298
Weighted average number of shares outstanding		55,061		51,637		54,935		51,533
Effect of dilutive securities:
Options on common stock		339		484		364		531
2 3/8% Contingent Convertible Senior Subordinated Notes		--		3,030		--		3,196
Restricted stock awards and other		182		100		178		144
Total shares and dilutive securities		55,582		55,251		55,477		55,404
Diluted earnings per share	$	1.38	$	2.01	$	3.22	$	4.45

Our calculation of diluted earnings per share for the three and six months ended June 30, 2013 excludes 392,416 shares and 392,660 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 six months ended June 30, 2012 excludes 625,565 shares and 484,533 shares, respectively, issuable pursuant to outstanding stock options and restricted stock awards, due to their antidilutive effect.

See Note 7 to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for a discussion of the conversion of our 2 3/8% Contingent Convertible Senior Subordinated Notes (2 3/8% Notes).