Download Annual Report, 2.44 MB - Xyratex

The computations for the weighted average shares outstanding used in the calculation of basic anddiluted earnings per common share from continuing operations are as follows:Year Ended November 30, 2004Weighted average Conversion CommonShares Outstanding Ratio SharesXyratex Group Limited class A preferred ordinary shares ..... 5,682 1.036378 5,889Xyratex Group Limited class B preferred ordinary shares ..... 6,444 0.945 6,089Xyratex Group Limited class C ordinary shares(a) .......... 1,053 1.071671 1,129Xyratex Ltd common shares (weighted average) ............ 11,752Weighted average common shares ...................... 24,859Common shares whose proceeds may be used to retire debt . . . 724Total weighted average common shares—basic and diluted .... 25,583Year Ended November 30, 2003Weighted average Conversion CommonShares Outstanding Ratio SharesXyratex Group Limited class A ordinary shares ............ 5,713 1.036378 5,921Xyratex Group Limited class A preferred ordinary shares ..... 1,792 1.036378 1,858Xyratex Group Limited class B ordinary shares ............ 1,480 1.036378 1,534Xyratex Group Limited class B preferred ordinary shares ..... 2,250 0.945 2,126Xyratex Group Limited class C ordinary shares(a) .......... 10,245 1.036378 10,617Weighted average common shares ...................... 22,056Common shares whose proceeds may be used to retire debt . . . 275Total weighted average common shares—basic and diluted .... 22,331(a) The conversion ratio for class C ordinary shares outstanding for the year ended November 30,2003 differs from the conversion ratio for class C ordinary shares outstanding for the year endedNovember 30, 2004 since all class C ordinary shares outstanding at September 17, 2003 along withall class A and B ordinary shares were converted to class A preferred ordinary shares on aone-for-one basis. Accordingly, the same conversion ratio is used for all shares that were convertedto class A preferred ordinary shares. No new class C ordinary shares were issued until the yearbeginning December 1, 2003.6