EX-11.1 2 w42553ex11-1.txt COMPUTATION OF EARNINGS 1 Exhibit 11.1 RADIAN GROUP INC. SCHEDULE OF NET INCOME PER SHARE
QUARTER NINE MONTHS ENDED SEPTEMBER 30 ENDED SEPTEMBER 30 ------------------ ------------------ 2000 1999 2000 1999 ---- ---- ---- ---- (In thousands, except per-share amounts and market prices) Net income .................................... $ 64,069 $ 37,488 $ 184,527 $ 99,935 Preferred stock dividend adjustment ........... (825) (825) (2,475) (2,475) --------- --------- --------- --------- Adjusted net income ........................... $ 63,244 $ 36,663 $ 182,052 $ 97,460 Average diluted stock options outstanding ..... 1,853.4 2,319.1 1,983.1 2,412.6 Average exercise price per share .............. 31.82 27.94 30.76 27.99 Average market price per share - diluted basis 62.42 48.32 51.55 45.49 Average common shares outstanding ............. 37,740 36,974 37,584 36,914 Increase in shares due to exercise of options - diluted basis ................................ 451 791 481 879 Adjusted shares outstanding - diluted ......... 38,191 37,765 38,065 37,793 Net income per share - basic .................. $ 1.68 $ 0.99 $ 4.84 $ 2.64 ========= ========= ========= ========= Net income per share - diluted ................ $ 1.66 $ 0.97 $ 4.78 $ 2.58 ========= ========= ========= =========