MWW » Topics » Earnings Per Share

These excerpts taken from the MWW 10-K filed Feb 12, 2009.
Earnings Per Share
 
Diluted earnings per share from continuing operations was $0.94 for the year ended December 31, 2008, lower by $0.21 or 18.3% when compared to $1.15 for the year ended December 31, 2007. The decrease was primarily a result of lower operating income, as a result of the inclusion of $40.1 million in a provision for net legal settlements, partially offset by a lower tax provision of $21.5 million and lower diluted average shares outstanding. Diluted weighted average shares outstanding decreased approximately 9.6 million shares, primarily as a result of the repurchase of 8.3 million shares of Common Stock since October 2007 and a lower average share price. Our diluted loss per share from discontinued operations increased to a gain of $0.09 in 2008, compared to a loss of $0.03 in 2007, which was primarily related to the 2008 wind-down of the Tickle operations.


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Earnings Per Share
 
Diluted earnings per share from continuing operations was $0.94 for the year ended December 31, 2008, lower by $0.21 or 18.3% when compared to $1.15 for the year ended December 31, 2007. The decrease was primarily a result of lower operating income, as a result of the inclusion of $40.1 million in a provision for net legal settlements, partially offset by a lower tax provision of $21.5 million and lower diluted average shares outstanding. Diluted weighted average shares outstanding decreased approximately 9.6 million shares, primarily as a result of the repurchase of 8.3 million shares of Common Stock since October 2007 and a lower average share price. Our diluted loss per share from discontinued operations increased to a gain of $0.09 in 2008, compared to a loss of $0.03 in 2007, which was primarily related to the 2008 wind-down of the Tickle operations.


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Table of Contents

Earnings Per Share
 
Diluted earnings per share from continuing operations was $0.94 for the year ended December 31, 2008, lower by $0.21 or 18.3% when compared to $1.15 for the year ended December 31, 2007. The decrease was primarily a result of lower operating income, as a result of the inclusion of $40.1 million in a provision for net legal settlements, partially offset by a lower tax provision of $21.5 million and lower diluted average shares outstanding. Diluted weighted average shares outstanding decreased approximately 9.6 million shares, primarily as a result of the repurchase of 8.3 million shares of Common Stock since October 2007 and a lower average share price. Our diluted loss per share from discontinued operations increased to a gain of $0.09 in 2008, compared to a loss of $0.03 in 2007, which was primarily related to the 2008 wind-down of the Tickle operations.


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Table of Contents

Earnings Per Share
 
Diluted earnings per share from continuing operations was $0.94 for the year ended December 31, 2008, lower by $0.21 or 18.3% when compared to $1.15 for the year ended December 31, 2007. The decrease was primarily a result of lower operating income, as a result of the inclusion of $40.1 million in a provision for net legal settlements, partially offset by a lower tax provision of $21.5 million and lower diluted average shares outstanding. Diluted weighted average shares outstanding decreased approximately 9.6 million shares, primarily as a result of the repurchase of 8.3 million shares of Common Stock since October 2007 and a lower average share price. Our diluted loss per share from discontinued operations increased to a gain of $0.09 in 2008, compared to a loss of $0.03 in 2007, which was primarily related to the 2008 wind-down of the Tickle operations.


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Table of Contents

Earnings
Per Share



 



Diluted earnings per share from continuing operations was $0.94
for the year ended December 31, 2008, lower by $0.21 or
18.3% when compared to $1.15 for the year ended
December 31, 2007. The decrease was primarily a result of
lower operating income, as a result of the inclusion of
$40.1 million in a provision for net legal settlements,
partially offset by a lower tax provision of $21.5 million
and lower diluted average shares outstanding. Diluted weighted
average shares outstanding decreased approximately
9.6 million shares, primarily as a result of the repurchase
of 8.3 million shares of Common Stock since October 2007
and a lower average share price. Our diluted loss per share from
discontinued operations increased to a gain of $0.09 in 2008,
compared to a loss of $0.03 in 2007, which was primarily related
to the 2008 wind-down of the Tickle operations.





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Table of Contents







Earnings
Per Share



 



Diluted earnings per share from continuing operations was $0.94
for the year ended December 31, 2008, lower by $0.21 or
18.3% when compared to $1.15 for the year ended
December 31, 2007. The decrease was primarily a result of
lower operating income, as a result of the inclusion of
$40.1 million in a provision for net legal settlements,
partially offset by a lower tax provision of $21.5 million
and lower diluted average shares outstanding. Diluted weighted
average shares outstanding decreased approximately
9.6 million shares, primarily as a result of the repurchase
of 8.3 million shares of Common Stock since October 2007
and a lower average share price. Our diluted loss per share from
discontinued operations increased to a gain of $0.09 in 2008,
compared to a loss of $0.03 in 2007, which was primarily related
to the 2008 wind-down of the Tickle operations.





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Table of Contents







Earnings
Per Share



 



Diluted earnings per share from continuing operations was $0.94
for the year ended December 31, 2008, lower by $0.21 or
18.3% when compared to $1.15 for the year ended
December 31, 2007. The decrease was primarily a result of
lower operating income, as a result of the inclusion of
$40.1 million in a provision for net legal settlements,
partially offset by a lower tax provision of $21.5 million
and lower diluted average shares outstanding. Diluted weighted
average shares outstanding decreased approximately
9.6 million shares, primarily as a result of the repurchase
of 8.3 million shares of Common Stock since October 2007
and a lower average share price. Our diluted loss per share from
discontinued operations increased to a gain of $0.09 in 2008,
compared to a loss of $0.03 in 2007, which was primarily related
to the 2008 wind-down of the Tickle operations.





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Table of Contents







Earnings
Per Share



 



Diluted earnings per share from continuing operations was $0.94
for the year ended December 31, 2008, lower by $0.21 or
18.3% when compared to $1.15 for the year ended
December 31, 2007. The decrease was primarily a result of
lower operating income, as a result of the inclusion of
$40.1 million in a provision for net legal settlements,
partially offset by a lower tax provision of $21.5 million
and lower diluted average shares outstanding. Diluted weighted
average shares outstanding decreased approximately
9.6 million shares, primarily as a result of the repurchase
of 8.3 million shares of Common Stock since October 2007
and a lower average share price. Our diluted loss per share from
discontinued operations increased to a gain of $0.09 in 2008,
compared to a loss of $0.03 in 2007, which was primarily related
to the 2008 wind-down of the Tickle operations.





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Table of Contents







Earnings Per Share
 
Diluted earnings per share from continuing operations was $1.15 for the year ended December 31, 2007, lower by $0.01 or approximately 1% when compared to $1.16 for the year ended December 31, 2006, primarily as a result of higher pre-tax expenses including $16.6 million in restructuring and other special charges, $15.8 million of one-time compensation expenses related to former executive offices and $9.0 million of expenses related to the third quarter security breach, partially offset by higher operating results. Our diluted loss per share from discontinued operations decreased to a loss of $0.03 in 2007, compared to a loss of $0.87


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Table of Contents

in 2006, which was primarily related to the 2006 disposition of our Advertising & Communications business in North America. Our average diluted shares outstanding decreased 0.4% from the prior year period, mainly as a result of our stock buyback transactions and lower dilutive effects from potential Common Stock equivalents.
 
Earnings Per Share
 
Diluted earnings per share from continuing operations was $1.15 for the year ended December 31, 2007, lower by $0.01 or approximately 1% when compared to $1.16 for the year ended December 31, 2006, primarily as a result of higher pre-tax expenses including $16.6 million in restructuring and other special charges, $15.8 million of one-time compensation expenses related to former executive offices and $9.0 million of expenses related to the third quarter security breach, partially offset by higher operating results. Our diluted loss per share from discontinued operations decreased to a loss of $0.03 in 2007, compared to a loss of $0.87


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Table of Contents

in 2006, which was primarily related to the 2006 disposition of our Advertising & Communications business in North America. Our average diluted shares outstanding decreased 0.4% from the prior year period, mainly as a result of our stock buyback transactions and lower dilutive effects from potential Common Stock equivalents.
 
Earnings Per Share
 
Diluted earnings per share from continuing operations was $1.15 for the year ended December 31, 2007, lower by $0.01 or approximately 1% when compared to $1.16 for the year ended December 31, 2006, primarily as a result of higher pre-tax expenses including $16.6 million in restructuring and other special charges, $15.8 million of one-time compensation expenses related to former executive offices and $9.0 million of expenses related to the third quarter security breach, partially offset by higher operating results. Our diluted loss per share from discontinued operations decreased to a loss of $0.03 in 2007, compared to a loss of $0.87


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Table of Contents

in 2006, which was primarily related to the 2006 disposition of our Advertising & Communications business in North America. Our average diluted shares outstanding decreased 0.4% from the prior year period, mainly as a result of our stock buyback transactions and lower dilutive effects from potential Common Stock equivalents.
 
Earnings Per Share
 
Diluted earnings per share from continuing operations was $1.15 for the year ended December 31, 2007, lower by $0.01 or approximately 1% when compared to $1.16 for the year ended December 31, 2006, primarily as a result of higher pre-tax expenses including $16.6 million in restructuring and other special charges, $15.8 million of one-time compensation expenses related to former executive offices and $9.0 million of expenses related to the third quarter security breach, partially offset by higher operating results. Our diluted loss per share from discontinued operations decreased to a loss of $0.03 in 2007, compared to a loss of $0.87


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Table of Contents

in 2006, which was primarily related to the 2006 disposition of our Advertising & Communications business in North America. Our average diluted shares outstanding decreased 0.4% from the prior year period, mainly as a result of our stock buyback transactions and lower dilutive effects from potential Common Stock equivalents.
 
Earnings
Per Share



 



Diluted earnings per share from continuing operations was $1.15
for the year ended December 31, 2007, lower by $0.01 or
approximately 1% when compared to $1.16 for the year ended
December 31, 2006, primarily as a result of higher pre-tax
expenses including $16.6 million in restructuring and other
special charges, $15.8 million of one-time compensation
expenses related to former executive offices and
$9.0 million of expenses related to the third quarter
security breach, partially offset by higher operating results.
Our diluted loss per share from discontinued operations
decreased to a loss of $0.03 in 2007, compared to a loss of
$0.87





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in 2006, which was primarily related to the 2006 disposition of
our Advertising & Communications business in North
America. Our average diluted shares outstanding decreased 0.4%
from the prior year period, mainly as a result of our stock
buyback transactions and lower dilutive effects from potential
Common Stock equivalents.


 




Earnings
Per Share



 



Diluted earnings per share from continuing operations was $1.15
for the year ended December 31, 2007, lower by $0.01 or
approximately 1% when compared to $1.16 for the year ended
December 31, 2006, primarily as a result of higher pre-tax
expenses including $16.6 million in restructuring and other
special charges, $15.8 million of one-time compensation
expenses related to former executive offices and
$9.0 million of expenses related to the third quarter
security breach, partially offset by higher operating results.
Our diluted loss per share from discontinued operations
decreased to a loss of $0.03 in 2007, compared to a loss of
$0.87





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Table of Contents






in 2006, which was primarily related to the 2006 disposition of
our Advertising & Communications business in North
America. Our average diluted shares outstanding decreased 0.4%
from the prior year period, mainly as a result of our stock
buyback transactions and lower dilutive effects from potential
Common Stock equivalents.


 




Earnings
Per Share



 



Diluted earnings per share from continuing operations was $1.15
for the year ended December 31, 2007, lower by $0.01 or
approximately 1% when compared to $1.16 for the year ended
December 31, 2006, primarily as a result of higher pre-tax
expenses including $16.6 million in restructuring and other
special charges, $15.8 million of one-time compensation
expenses related to former executive offices and
$9.0 million of expenses related to the third quarter
security breach, partially offset by higher operating results.
Our diluted loss per share from discontinued operations
decreased to a loss of $0.03 in 2007, compared to a loss of
$0.87





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Table of Contents






in 2006, which was primarily related to the 2006 disposition of
our Advertising & Communications business in North
America. Our average diluted shares outstanding decreased 0.4%
from the prior year period, mainly as a result of our stock
buyback transactions and lower dilutive effects from potential
Common Stock equivalents.


 




Earnings
Per Share



 



Diluted earnings per share from continuing operations was $1.15
for the year ended December 31, 2007, lower by $0.01 or
approximately 1% when compared to $1.16 for the year ended
December 31, 2006, primarily as a result of higher pre-tax
expenses including $16.6 million in restructuring and other
special charges, $15.8 million of one-time compensation
expenses related to former executive offices and
$9.0 million of expenses related to the third quarter
security breach, partially offset by higher operating results.
Our diluted loss per share from discontinued operations
decreased to a loss of $0.03 in 2007, compared to a loss of
$0.87





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Table of Contents






in 2006, which was primarily related to the 2006 disposition of
our Advertising & Communications business in North
America. Our average diluted shares outstanding decreased 0.4%
from the prior year period, mainly as a result of our stock
buyback transactions and lower dilutive effects from potential
Common Stock equivalents.


 




Earnings Per Share
 
Basic earnings per share does not include the effects of potentially dilutive stock options and restricted stock bonus awards and is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share reflects, in periods in which they have a dilutive effect, commitments to issue common stock and common stock issuable upon exercise of stock options for periods in which the options’ exercise price is lower than the Company’s average share price for the period.
 
Certain stock options and stock issuable under employee compensation plans were excluded from the computation of earnings per share due to their anti-dilutive effect. The weighted average number of such common stock equivalents is approximately 8,881,000, 1,153,000 and 1,280,000 for the years ended December 31, 2008, 2007, and 2006, respectively. A reconciliation of shares used in calculating basic and diluted earnings per common and Class B common share follows:
 
                         
    December 31,  
(Thousands of shares)
  2008     2007     2006  
 
Basic weighted average shares outstanding
    120,557       128,785       128,077  
Effect of common stock equivalents — stock options and stock issuable under employee compensation plans
    610       1,970       3,170  
                         
Diluted weighted average shares outstanding
    121,167       130,755       131,247  
                         
 
Earnings Per Share
 
Basic earnings per share does not include the effects of potentially dilutive stock options and restricted stock bonus awards and is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share reflects, in periods in which they have a dilutive effect, commitments to issue common stock and common stock issuable upon exercise of stock options for periods in which the options’ exercise price is lower than the Company’s average share price for the period.
 
Certain stock options and stock issuable under employee compensation plans were excluded from the computation of earnings per share due to their anti-dilutive effect. The weighted average number of such common stock equivalents is approximately 8,881,000, 1,153,000 and 1,280,000 for the years ended December 31, 2008, 2007, and 2006, respectively. A reconciliation of shares used in calculating basic and diluted earnings per common and Class B common share follows:
 
                         
    December 31,  
(Thousands of shares)
  2008     2007     2006  
 
Basic weighted average shares outstanding
    120,557       128,785       128,077  
Effect of common stock equivalents — stock options and stock issuable under employee compensation plans
    610       1,970       3,170  
                         
Diluted weighted average shares outstanding
    121,167       130,755       131,247  
                         
 
Earnings Per Share
 
Basic earnings per share does not include the effects of potentially dilutive stock options and restricted stock bonus awards and is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share reflects, in periods in which they have a dilutive effect, commitments to issue common stock and common stock issuable upon exercise of stock options for periods in which the options’ exercise price is lower than the Company’s average share price for the period.
 
Certain stock options and stock issuable under employee compensation plans were excluded from the computation of earnings per share due to their anti-dilutive effect. The weighted average number of such common stock equivalents is approximately 8,881,000, 1,153,000 and 1,280,000 for the years ended December 31, 2008, 2007, and 2006, respectively. A reconciliation of shares used in calculating basic and diluted earnings per common and Class B common share follows:
 
                         
    December 31,  
(Thousands of shares)
  2008     2007     2006  
 
Basic weighted average shares outstanding
    120,557       128,785       128,077  
Effect of common stock equivalents — stock options and stock issuable under employee compensation plans
    610       1,970       3,170  
                         
Diluted weighted average shares outstanding
    121,167       130,755       131,247  
                         
 
Earnings Per Share
 
Basic earnings per share does not include the effects of potentially dilutive stock options and restricted stock bonus awards and is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per share reflects, in periods in which they have a dilutive effect, commitments to issue common stock and common stock issuable upon exercise of stock options for periods in which the options’ exercise price is lower than the Company’s average share price for the period.
 
Certain stock options and stock issuable under employee compensation plans were excluded from the computation of earnings per share due to their anti-dilutive effect. The weighted average number of such common stock equivalents is approximately 8,881,000, 1,153,000 and 1,280,000 for the years ended December 31, 2008, 2007, and 2006, respectively. A reconciliation of shares used in calculating basic and diluted earnings per common and Class B common share follows:
 
                         
    December 31,  
(Thousands of shares)
  2008     2007     2006  
 
Basic weighted average shares outstanding
    120,557       128,785       128,077  
Effect of common stock equivalents — stock options and stock issuable under employee compensation plans
    610       1,970       3,170  
                         
Diluted weighted average shares outstanding
    121,167       130,755       131,247  
                         
 
Earnings
Per Share



 



Basic earnings per share does not include the effects of
potentially dilutive stock options and restricted stock bonus
awards and is computed by dividing income available to common
stockholders by the weighted average number of shares of common
stock outstanding for the period. Diluted earnings per share
reflects, in periods in which they have a dilutive effect,
commitments to issue common stock and common stock issuable upon
exercise of stock options for periods in which the options’
exercise price is lower than the Company’s average share
price for the period.


 



Certain stock options and stock issuable under employee
compensation plans were excluded from the computation of
earnings per share due to their anti-dilutive effect. The
weighted average number of such common stock equivalents is
approximately 8,881,000, 1,153,000 and 1,280,000 for the years
ended December 31, 2008, 2007, and 2006, respectively. A
reconciliation of shares used in calculating basic and diluted
earnings per common and Class B common share follows:


 




















































































































                         

 

 

December 31,

 


(Thousands of shares)


 

2008

 

 

2007

 

 

2006

 
 


Basic weighted average shares outstanding


 

 

120,557

 

 

 

128,785

 

 

 

128,077

 


Effect of common stock equivalents — stock options and
stock issuable under employee compensation plans


 

 

610

 

 

 

1,970

 

 

 

3,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Diluted weighted average shares outstanding


 

 

121,167

 

 

 

130,755

 

 

 

131,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 




Earnings
Per Share



 



Basic earnings per share does not include the effects of
potentially dilutive stock options and restricted stock bonus
awards and is computed by dividing income available to common
stockholders by the weighted average number of shares of common
stock outstanding for the period. Diluted earnings per share
reflects, in periods in which they have a dilutive effect,
commitments to issue common stock and common stock issuable upon
exercise of stock options for periods in which the options’
exercise price is lower than the Company’s average share
price for the period.


 



Certain stock options and stock issuable under employee
compensation plans were excluded from the computation of
earnings per share due to their anti-dilutive effect. The
weighted average number of such common stock equivalents is
approximately 8,881,000, 1,153,000 and 1,280,000 for the years
ended December 31, 2008, 2007, and 2006, respectively. A
reconciliation of shares used in calculating basic and diluted
earnings per common and Class B common share follows:


 




















































































































                         

 

 

December 31,

 


(Thousands of shares)


 

2008

 

 

2007

 

 

2006

 
 


Basic weighted average shares outstanding


 

 

120,557

 

 

 

128,785

 

 

 

128,077

 


Effect of common stock equivalents — stock options and
stock issuable under employee compensation plans


 

 

610

 

 

 

1,970

 

 

 

3,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Diluted weighted average shares outstanding


 

 

121,167

 

 

 

130,755

 

 

 

131,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 




Earnings
Per Share



 



Basic earnings per share does not include the effects of
potentially dilutive stock options and restricted stock bonus
awards and is computed by dividing income available to common
stockholders by the weighted average number of shares of common
stock outstanding for the period. Diluted earnings per share
reflects, in periods in which they have a dilutive effect,
commitments to issue common stock and common stock issuable upon
exercise of stock options for periods in which the options’
exercise price is lower than the Company’s average share
price for the period.


 



Certain stock options and stock issuable under employee
compensation plans were excluded from the computation of
earnings per share due to their anti-dilutive effect. The
weighted average number of such common stock equivalents is
approximately 8,881,000, 1,153,000 and 1,280,000 for the years
ended December 31, 2008, 2007, and 2006, respectively. A
reconciliation of shares used in calculating basic and diluted
earnings per common and Class B common share follows:


 




















































































































                         

 

 

December 31,

 


(Thousands of shares)


 

2008

 

 

2007

 

 

2006

 
 


Basic weighted average shares outstanding


 

 

120,557

 

 

 

128,785

 

 

 

128,077

 


Effect of common stock equivalents — stock options and
stock issuable under employee compensation plans


 

 

610

 

 

 

1,970

 

 

 

3,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Diluted weighted average shares outstanding


 

 

121,167

 

 

 

130,755

 

 

 

131,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 




Earnings
Per Share



 



Basic earnings per share does not include the effects of
potentially dilutive stock options and restricted stock bonus
awards and is computed by dividing income available to common
stockholders by the weighted average number of shares of common
stock outstanding for the period. Diluted earnings per share
reflects, in periods in which they have a dilutive effect,
commitments to issue common stock and common stock issuable upon
exercise of stock options for periods in which the options’
exercise price is lower than the Company’s average share
price for the period.


 



Certain stock options and stock issuable under employee
compensation plans were excluded from the computation of
earnings per share due to their anti-dilutive effect. The
weighted average number of such common stock equivalents is
approximately 8,881,000, 1,153,000 and 1,280,000 for the years
ended December 31, 2008, 2007, and 2006, respectively. A
reconciliation of shares used in calculating basic and diluted
earnings per common and Class B common share follows:


 




















































































































                         

 

 

December 31,

 


(Thousands of shares)


 

2008

 

 

2007

 

 

2006

 
 


Basic weighted average shares outstanding


 

 

120,557

 

 

 

128,785

 

 

 

128,077

 


Effect of common stock equivalents — stock options and
stock issuable under employee compensation plans


 

 

610

 

 

 

1,970

 

 

 

3,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Diluted weighted average shares outstanding


 

 

121,167

 

 

 

130,755

 

 

 

131,247

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 




EXCERPTS ON THIS PAGE:

10-K (24 sections)
Feb 12, 2009
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