EXHIBIT 11
CENTURY TELEPHONE ENTERPRISES, INC.
COMPUTATIONS OF EARNINGS PER SHARE
(UNAUDITED)
Three months
ended March 31
---------------------
1994 1993
---------- ----------
(expressed in thousands,
except per share amounts)
Net income $19,201 15,740
Preferred stock dividend requirements (13) (6)
-------- --------
Net income applicable to common stock 19,188 15,734
Dividends applicable to Series H and
Series K Preferred Stock 13 6
Interest on 6% convertible debentures
and amortization of deferred debt
costs incurred in connection with
the issuance of the debentures, net
of taxes 1,146 1,164
-------- --------
Net income as adjusted for purposes of
computing fully diluted earnings per
share $20,347 16,904
======== ========
Weighted average number of shares:
Outstanding during period 52,296 48,938
Common stock equivalent shares 521 720
-------- --------
Shares for computing primary
earnings per share 52,817 49,658
Incremental common shares attributable
to additional dilutive effect of
convertible securities 4,661 4,802
-------- --------
Shares as adjusted for purposes of
computing fully diluted earnings
per share 57,478 54,460
======== =======
Earnings per average common share $ .37 .32
======== ========
Primary earnings per share $ .36 .32
======== ========
Fully diluted earnings per share $ .35 .31
======== ========