EX-11.1 3 dex111.htm COMPUTATION OF LOSS PER SHARE COMPUTATION OF LOSS PER SHARE

Exhibit 11.1

 

 

COMPUTATION OF LOSS PER SHARE

(Amounts in thousands except per share amounts)

 

Basic loss per common share for the fiscal years ended December 31, 2003, 2002 and 2001 are as follows:

 

     Years ended December 31,

 
     2003

    2002

    2001

 

Net loss

   $ (38,580 )   $ (165,224 )   $ (79,426 )
    


 


 


Weighted average common shares outstanding

     90,406       90,037       86,904  

Basic loss per common share

   $ (0.43 )   $ (1.84 )   $ (0.91 )
    


 


 


 

Diluted loss per common share for the fiscal years ended December 31, 2003, 2002 and 2001 are as follows:

 

     Years ended December 31,

 
     2003

    2002

    2001

 

Net loss

   $ (38,580 )   $ (165,224 )   $ (79,426 )
    


 


 


Weighted average common shares outstanding

     90,406       90,037       86,904  

Dilutive securities(1)(2)

     —         —         —    

Diluted average common shares outstanding

     90,406       90,037       86,904  
    


 


 


Diluted loss per common share(1)(2)

     (0.43 )   $ (1.84 )   $ (0.91 )
    


 


 



(1) For purposes of calculating the dilutive loss per common share for the fiscal years ended December 31, 2003, 2002 and 2001, the assumed exercise of dilutive securities (in-the-money stock options) is not taken into consideration, as its effect is anti-dilutive. Had these been exercised, 1.7 million, 0.4 million and 4.3 million additional shares of common stock would have been assumed outstanding for each of the years in the fiscal years ended December 31, 2003, 2002 and 2001, respectively.
(2) For purposes of calculating the dilutive loss per common share for the fiscal years ended December 31, 2003, 2002 and 2001, the assumed conversion of 4.50% Convertible Notes due 2005 and 5.45% Convertible Plus Cash Notes due 2007 is not taken into consideration as their effect is anti-dilutive. Had the 4.50% Convertible Notes due 2005 and 5.45% Convertible Plus Cash Notes due 2007 been converted, 22.9 million, 2.4 million and 5.1 million additional shares of common stock would have been assumed outstanding for each of the years in the fiscal years ended December 31, 2003, 2002 and 2001, respectively.