Annual report 2008 - Comrod

NOTE 9 EARNINGS PER SHAREBasic earnings per share amounts are calculated by dividing net profit for the year attributable to ordinary equity holders ofthe parent by the weighted average number of ordinary shares outstanding during the year. To calculate the diluted earningsper share, the profit and weighted average number of shares outstanding is adjusted to accommodate all dilution effectsassociated with share options. All share options are taken into consideration in the “denominator”. In the calculations, shareoptions are considered to have been converted at the grant date. Redemmed options are included from the date of issue.Comrod Communication Group was legally established by a demerger of Hexagon Group in January 2007. The demergerwas organised so that Comrod Communication ASA, incorporated 19.09.2006, was the parent company. This company hada 1 000 000 shares at the beginning of 2007. At the end of 2006, the Comrod Communication Group (still part of HexagonComposites Group) consisted of Comrod AS with it’s subsidiary Lerc SAS. Comrod AS had 1 500 shares.(NOK 1 000) 2008 2007Profit for the year flowing to holders of ordinary sharesProfit for the year 10 457 12 259Profit for the year flowing to holders of ordinary shares 10 457 12 259(NOK 1 000) 2008 1) 2007 1)Weighed average number of shares outstanding 31.12. (Note 18)Ordinary shares issued 01.01. 16 938 649 1 000 000Effect of demerger and directed issue 19.01.2007 0 15 108 966Weighed average number of shares outstanding 31.12. 16 938 649 16 108 966Earnings per share 0.62 0.76Diluted number of shares outstanding 31.12. (Note 18)Ordinary shares issued 01.01. 16 938 649 1 000 000Effect of directed new share issue 0 15 108 966Weighed average number of shares outstanding 31.12.adjusted for dilution effects 16 938 649 16 108 966Diluted earnings per share 0.62 0.761)The shares in the 2007 and 2008 column is the shares of Comrod Communication ASAComrod Communication Group Annual report 2008 47