|
2. Earnings Per Share
Basic earnings per share ("Basic
EPS") have been computed using the weighted average number of common
shares outstanding during the respective periods. The calculation of diluted
earnings per share ("Diluted EPS") for 2000 assumes conversion of
our Convertible Notes as of the beginning of the respective periods and the
elimination of the related after-tax interest expense. The calculation of
diluted earnings per share for all periods assumes, as of the beginning of the
period, exercise of stock options and warrants using the treasury stock
method. Certain of our stock options that would potentially dilute Basic EPS
in the future were also antidilutive for the 2002 and 2001 periods.
The following is a reconciliation of
the numerators and denominators used in the calculation of Basic and Diluted
EPS for the years ended December 31, 2002, 2001, and 2000:
|
2002 |
|
2001 |
|
2000 |
|
|
|
|
|
|
|
|
|
Per
Share |
|
|
|
Per
Share |
|
|
|
Per
Share |
|
Net
Income |
Shares |
Amount |
|
Net
Loss |
Shares |
Amount |
|
Net
Income |
Shares |
Amount |
|
----------- |
--------- |
------- |
|
----------- |
--------- |
------- |
|
---------- |
--------- |
------ |
| Basic
EPS: |
|
|
|
|
|
|
|
|
|
|
|
| Net
Income (Loss) and Share Amounts |
$11,923,227 |
26,382,906 |
$0.45 |
|
$(22,347,765) |
24,732,099 |
$(0.90) |
|
$59,184,008 |
21,244,684 |
$2.79 |
|
|
|
|
|
|
|
|
|
|
|
|
| Dilutive
Securities: |
|
|
|
|
|
|
|
|
|
|
|
| 6.25%
Convertible Notes |
-- |
-- |
|
|
-- |
-- |
|
|
4,772,418 |
3,546,933 |
|
| Stock
Options |
-- |
372,700 |
|
|
-- |
-- |
|
|
-- |
713,112 |
|
|
----------- |
--------- |
|
|
----------- |
--------- |
|
|
----------- |
--------- |
|
| Diluted
EPS: |
|
|
|
|
|
|
|
|
|
|
|
Net
Income (Loss) and
Assumed Share Conversions |
$11,923,227 |
26,755,606 |
$0.45 |
|
$(22,347,765) |
24,732,099 |
$(0.90) |
|
$63,956,426 |
25,504,729 |
$2.51 |
|
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This page was last updated on Tuesday, April 01, 2003, at 09:47:58 AM.
Copyright © 1994-2008 by Swift Energy Company.
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Contact Swift Energy Company Stockholder Relations through e-mail info@swiftenergy.com
or telephone (281) 874-2700.
|
