EXHIBIT 11
CONNECTICUT NATURAL GAS CORPORATION AND SUBSIDIARIES
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COMPUTATION OF CONSOLIDATED PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
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(Thousands of Dollars Except for Shares and Per Share Date)
Fiscal Year Ended September 30,
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1995 1994 1993 1992 1991
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Net income applicable to common stock:
Continuing operations
Income $ 17,019 $ 17,703 $ 16,855 $ 15,265 $ 12,343
Less-Preferred stock dividends 62 66 67 68 70
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Income applicable to common stock 16,957 17,637 16,788 15,197 12,273
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Net gain on disposal of discontinued operations - - - - 517
Cummulative effect of change in accounting (2) - - - - 1,779
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Net income applicable to common stock $ 16,957 $ 17,637 $ 16,788 $ 15,197 $ 14,569
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Weighted average number of shares of common
stock outstanding during the year (1) 9,926,980 9,539,695 9,527,772 8,704,897 8,516,632
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Net income per share of common stock -
primary and fully diluted (1)
Continuing operations $1.71 $1.85 $1.76 $1.75 $1.44
Net gain on disposal of discontinued operations - - - - .06
Cumulative effect of change in accounting (2) - - - - .21
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$1.71 $1.85 $1.76 $1.75 $1.71
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NOTE:
(1) The Company has no common stock equivalents. Therefore, no adjustments to the weighted average number of shares of
common stock outstanding during any of the years reflected in this exhibit are necessary in order to calculate either
primary or fully diluted earnings per share. For this reason primary and fully diluted earnings per share are the
same in each year.
(2) Changes in accounting include a change in the method of accounting for municipal property taxes in 1991.
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