The basic earnings per share is calculated by dividing the net income for the period attributable to ordinary Shareholders by the weighted average number of shares in circulation. The diluted earnings per share is calculated by dividing the net income for the period attributable to ordinary Shareholders by the weighted average number of ordinary shares in circulation during the period, adjusted for the capital dilution effects of any options outstanding. The calculation of the shares in circulation does not include own shares held as treasury stock.
The company has only one category of potential ordinary shares, which are those shares resulting from the stock options assigned to employees.
The dilutive effect of the ordinary shares to be issued or assigned in favour of stock options plans on earnings per share is not significant.
To determine the average number of options, the
average fair value of the shares for the period under examination (the
financial year) was used. The average fair value of CIR ordinary shares in 2010
was € 1.5474 compared to an average fair value of €
The following chart shows the information on the shares used to calculate the basic and diluted earnings per share.
Basic earnings per share
|
|
2010 |
2009 |
|
Net income attributable to the Shareholders (in thousands of euro) |
56,850 |
143,432 |
|
Weighted average number of ordinary shares in circulation |
749,043,267 |
748,117,934 |
|
Earnings per share (euro) |
0.0759 |
0.1917 |
|
|
2010 |
2009 |
|
Net income from the comprehensive income statement attributable to the Shareholders (in thousands of euro) |
79,189 |
126,407 |
|
Weighted average number of ordinary shares in circulation |
749,043,267 |
748,117,934 |
|
Earnings per share (euro) |
0.1057 |
0.1690 |
Diluted earnings per share
|
|
2010 |
2009 |
|
Net income attributable to the Shareholders (in thousands of euro) |
56,850 |
143,432 |
|
Weighted average number of ordinary shares in circulation |
749,043,267 |
748,117,934 |
|
Weighted average number of options |
3,306,530 |
-- |
|
No. of shares that could have been issued at fair value |
(2,486,629) |
-- |
|
Adjusted weighted average number of shares circulation |
749,863,168 |
748,117,934 |
|
Diluted earnings per share (euro) |
0,0758 |
0,1917 |
|
|
2010 |
2009 |
|
Net income from the comprehensive income statement attributable to the Shareholders (in thousands of euro) |
79,189 |
126,407 |
|
Weighted average number of ordinary shares in circulation |
749,043,267 |
748,117,934 |
|
Weighted average number of options |
3,306,530 |
-- |
|
No. of shares that could have been issued at fair value |
(2,436,629) |
-- |
|
Adjusted weighted average number of shares circulation |
749,863,168 |
748,117,934 |
|
Diluted earnings per share (euro) |
0.1056 |
0.1690 |