14. Earnings per share (EPS)
Basic earnings per share
Basic earnings per share are calculated by dividing the net income attributable to shareholders by the weighted average number of shares outstanding during the year. The number of outstanding shares is calculated by deducting the average number of shares purchased and held as treasury shares from the total of all issued shares.
| In CHF'000 | 2008 | 2007 |
|---|---|---|
| Net income attributable to bearer shareholders | -13 350 | 60 221 |
| Net income attributable to registered shareholders | -1 295 | 5 875 |
| Total net income | -14 645 | 66 096 |
| Weighted average number of bearer shares outstanding | 47 730 808 | 47 457 434 |
| Weighted average number of registered shares outstanding | 46 300 000 | 46 300 000 |
| Basic earnings per share (CHF) | ||
| Bearer shares | -0.2797 | 1.2689 |
| Registered shares | -0.0280 | 0.1269 |
Diluted earnings per share
The diluted earnings per share calculation takes into account all potential dilutions to the earnings per share arising from the convertible bonds and options on Kudelski SA shares.
| In CHF'000 | 2008 | 2007 |
|---|---|---|
| Net income attributed to equity holders of the company | -14 645 | 66 096 |
| Elimination of interest expense on convertible debt * | - | - |
| Tax impact on above adjustments | - | - |
| Net income used to determine earnings per share | -14 645 | 66 096 |
| Of which: | ||
| - attributable to bearer shareholders | -13 350 | 60 229 |
| - attributable to registered shareholders | -1 295 | 5 867 |
| -14 645 | 66 096 | |
| Weighted average number of bearer shares outstanding | 47 730 808 | 47 457 434 |
| Effect of dilutive potential bearer share: | ||
| - employee stock option plan (ESOP) * | - | 71 911 |
| - convertible bond* | - | - |
| Weighted average number of bearer shares for the purpose of diluted earnings per share | 47 730 808 | 47 529 345 |
| Weighted average number of registered shares for the purpose of diluted earnings per share | 46 300 000 | 46 300 000 |
| Diluted earnings per share (CHF) | ||
| Bearer shares | -0.2797 | 1.2672 |
| Registered shares | -0.0280 | 0.1267 |
* Shares equivalent of 5 225 440 (2007: 5 225 440) relating to the convertible bonds were excluded from the calculation of diluted earnings per share as they were anti-dilutive. In 2008, the employee stock option plan is anti-dilutive since the strike price of the options is greater than the year average stock market price.