EX-11.1 3 navg-ex111_10.htm EX-11.1 navg-ex111_10.htm

Exhibit 11.1

THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES

Computation of Per Share Earnings (Loss)

The following table presents the computation of Basic and Diluted Earnings (Loss) per Share for the three months ended March 31, 2019 and 2018:

 

 

Three Months Ended March 31,

 

amounts in thousands, except per share amounts

 

2019

 

 

2018

 

Net Income (Loss)

 

$

(1,738

)

 

$

30,878

 

Basic Weighted Average Shares

 

 

29,871

 

 

 

29,595

 

Effect of Common Stock Equivalents:

 

 

 

 

 

 

 

 

Assumed Vesting of Stock Grants

 

 

—

 

 

 

542

 

Diluted Weighted Average Shares

 

 

29,871

 

 

 

30,137

 

Net Income (Loss) per Common Share:

 

 

 

 

 

 

 

 

Basic

 

$

(0.06

)

 

$

1.04

 

Diluted

 

$

(0.06

)

 

$

1.02

 

Anti-dilutive Shares Excluded from the Dilutive Computation

 

 

730

 

 

 

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