Exhibit 11.1
UNITIL CORPORATION
Computation in Support of Earnings per Share
Year Ended December 31,
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2002 2001 2000
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(000's omitted)
BASIC EARNINGS PER SHARE
Net Income before Extraordinary Item $ 6,088 $ 5,027 $ 7,216
Extraordinary Item, net --- (3,937) ----
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Net Income 6,088 1,090 7,216
Less: Dividend Requirements on Preferred Stock 253 257 263
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Net Income Applicable to Common Stock $ 5,835 $ 833 $ 6,953
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Average Number of Common Shares Outstanding 4,744 4,744 4,723
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Basic Earnings per Average Common Shares Outstanding $ 1.23 $ 0.18 $ 1.47
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DILUTED EARNINGS PER SHARE
Net Income before Extraordinary Item $ 6,088 $ 5,027 $ 7,216
Extraordinary Item, net --- (3,937) ----
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Net Income 6,088 1,090 7,216
Less: Dividend Requirements on Preferred Stock 253 257 263
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Net Income Applicable to Common Stock $ 5,835 $ 833 $ 6,953
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Average Number of Common Shares Outstanding plus
Assumed Options converted* 4,762 4,760 4,743
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Basic Earnings per Average Common Shares Outstanding $ 1.23 $ 0.18 $ 1.47
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* Assumes all options were converted to common shares per SFAS 128.