The basic earnings per share is calculated by dividing the net income for the period attributable to the 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 the ordinary Shareholders by the weighted average number of ordinary shares in circulation during the period, adjusted for the dilutive effects of outstanding options. Own shares held as treasury stock are not included in the shares in circulation.
The company has only one category of potential ordinary shares, those deriving from stock options awarded to employees.
The dilutive effect that these ordinary shares to be issued or assigned to stock option plans will have on earnings per share is not significant.
In calculating the average number of options, the average fair value of
the shares for each financial year was used. The average fair value of each CIR
ordinary share in financial year 2010
was € 1.5474 compared to an average fair value of €
The chart below 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 euro) |
(14,715,748) |
(1,989,780) |
|
Weighted average number of ordinary shares in circulation |
749,043,267 |
748,117,934 |
|
Earnings per share (euro) |
(0.0196) |
(0.0027) |
|
|
|
|
|
|
2010 |
2009 |
|
Net income of comprehensive income statement attributable to the Shareholders (in euro) |
(14,715,748) |
(1,989,780) |
|
Weighted average number of ordinary shares in circulation |
749,043,267 |
748,117,934 |
|
Earnings per share (euro) |
(0.0196) |
(0.0027) |
|
Diluted earnings per share |
|
|
|
|
2010 |
2009 |
|
Net income attributable to the Shareholders (in euro) |
(14,715,748) |
(1,989,780) |
|
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 in circulation |
749,863,168 |
748,117,934 |
|
Diluted earnings per share (euro) |
(0.0196) |
(0.0027) |
|
|
|
|
|
|
2010 |
2009 |
|
Net income of comprehensive income statement attributable to the Shareholders (in euro) |
(14,715,748) |
(1,989,780) |
|
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 in circulation |
749,863,168 |
748,117,934 |
|
Diluted earnings per share |
(0.0196) |
(0.0027 |