FBR » Topics » Earnings Per Share

This excerpt taken from the FBR 10-K filed Mar 1, 2007.

Earnings Per Share

Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share includes the impact of dilutive securities such as stock options. The following table presents the computations of basic and diluted earnings per share for the years ended December 31, 2006, 2005 and 2004:

 

     Year Ended
December 31, 2006
   

Year Ended

December 31, 2005

    Year Ended
December 31, 2004
     Basic     Diluted     Basic     Diluted     Basic    Diluted

Weighted average shares outstanding:

             

Common stock (in thousands)

     171,667       171,667       169,333       169,333       167,099      167,099

Stock options (in thousands)

     —         —         —         —         —        1,391
                                             

Weighted average common and common equivalent shares outstanding

     171,667       171,667       169,333       169,333       167,099      168,490
                                             

Net (loss) earnings applicable to common stock

   $ (67,275 )   $ (67,275 )   $ (170,910 )   $ (170,910 )   $ 349,559    $ 349,559
                                             

(Loss) earnings per common share

   $ (0.39 )   $ (0.39 )   $ (1.01 )   $ (1.01 )   $ 2.09    $ 2.07
                                             

As of December 31, 2006, 2005 and 2004, respectively, 2,925,643, 3,740,068 and 4,035,976 options to purchase shares of common stock were outstanding (each including 1,600, 551,342 and 711,343 shares, respectively, associated with the Employee Stock Purchase and Loan Plan that are treated as options). For the years ended December 31, 2006, 2005 and 2004, 2,924,043, 3,188,726 and 40,000 of outstanding options were anti-dilutive, respectively. See Note 13 for detail of total stock options outstanding

This excerpt taken from the FBR 10-K filed Mar 16, 2006.

Earnings Per Share

 

Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share includes the impact of dilutive securities such as stock options. The following table presents the computations of basic and diluted earnings per share for the years ended December 31, 2005, 2004 and 2003:

 

     Year Ended
December 31, 2005


    Year Ended
December 31, 2004


   Year Ended
December 31, 2003


     Basic

    Diluted

    Basic

   Diluted

   Basic

   Diluted

Weighted average shares outstanding:

                                           

Common stock (in thousands)

     169,333       169,333       167,099      167,099      119,802      119,802

Stock options (in thousands)

     —         —         —        1,391      —        3,505
    


 


 

  

  

  

Weighted average common and common equivalent shares outstanding

     169,333       169,333       167,099      168,490      119,802      123,307
    


 


 

  

  

  

Net (loss) earnings applicable to common stock

   $ (170,910 )   $ (170,910 )   $ 349,559    $ 349,559    $ 201,414    $ 201,414
    


 


 

  

  

  

(Loss) earnings per common share

   $ (1.01 )   $ (1.01 )   $ 2.09    $ 2.07    $ 1.68    $ 1.63
    


 


 

  

  

  

 

As of December 31, 2005, 2004 and 2003, respectively, 3,740,068, 4,035,976 and 4,731,340 options to purchase shares of common stock were outstanding (each including 551,342, 711,343 and 1,290,198 shares, respectively, associated with the Employee Stock Purchase and Loan Plan that are treated as options). For the years ended December 31, 2005, 2004 and 2003, 3,188,726, 40,000 and none of outstanding options were anti-dilutive, respectively. See Note 12 for detail of total stock options outstanding.

 

EXCERPTS ON THIS PAGE:

10-K
Mar 1, 2007
10-K
Mar 16, 2006
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