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EXHIBIT 11
Radian Group Inc.
Schedule of Net (Loss) Income per Share
| (In thousands, except per-share amounts and market prices) | Three Months Ended September 30 |
Nine Months Ended September 30 |
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| 2010 | 2009 | 2010 | 2009 | |||||||||||||
| Net (loss) income |
$ | 112,185 | $ | (70,450 | ) | $ | (673,250 | ) | $ | (56,012 | ) | |||||
| Average diluted stock options outstanding |
454 | — | — | — | ||||||||||||
| Average exercise price per share |
$ | 2.48 | $ | — | $ | — | $ | — | ||||||||
| Average market price per share—diluted basis |
$ | 7.53 | $ | — | $ | — | $ | — | ||||||||
| Average common shares outstanding |
132,324 | 81,749 | 108,608 | 81,761 | ||||||||||||
| Increase in share due to potential exercise of common stock equivalents—diluted basis (1) |
1,196 | — | — | — | ||||||||||||
| Adjusted shares outstanding—diluted |
133,520 | 81,749 | 108,608 | 81,761 | ||||||||||||
| Net loss per share—basic |
$ | 0.85 | $ | (0.86 | ) | $ | (6.20 | ) | $ | (0.69 | ) | |||||
| Net loss per share—diluted |
$ | 0.84 | $ | (0.86 | ) | $ | (6.20 | ) | $ | (0.69 | ) | |||||
| (1) | For the three months ended September 30, 2010, 2,790,978 shares of our common stock equivalents issued under our stock-based compensations plans were not included in the calculation of diluted net income per share because they were anti-dilutive. For the nine months ended September 30, 2010, 4,386,697 shares of our common stock equivalents were not included in the calculation of diluted net loss per share because they were anti-dilutive due to the net loss for the period. For the three and nine months ended September 30, 2009, 4,752,900 shares of our common stock equivalents were not included in the calculation of diluted net loss per share because they were anti-dilutive. |