Exhibit 11
to
Form 10-Q for the Quarterly
Period Ended June 30, 1996
CINCINNATI BELL INC.
COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE
Dollars in millions, except per share amounts; shares in thousands
(Unaudited)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
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1996 1995 1996 1995
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Net income (loss). . . . . . . . . . . . . . . $ 44.8 $ 27.0 $ 86.5 $(32.6)
Weighted average common shares outstanding . . 67,220 66,216 67,046 66,131
Common share equivalent shares applicable
to stock options . . . . . . . . . . . . . . . 1,726 444 1,476 266
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Total number of shares for computing
primary earnings per common share... . . . . 68,946 66,660 68,522 66,397
Incremental share for computing fully diluted
earnings per share Common shares equivalents -
fully diluted. . . . . . . . . . . . . . . . . 12 56 262 234
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Total number of shares for computing fully
diluted earnings per common share. . . . . . 68,958 66,716 68,784 66,631
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EARNINGS (LOSS) PER COMMON SHARE
Primary earnings (loss) per common share. . . . $ .65 $ .41 $ 1.26 $ (.49)
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Fully Diluted earnings (loss) per common
share. . . . . . . . . . . . . . . . . . . . . $ .65 $ .41 $ 1.26 $ (.49)
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Earnings per common share for the three and six months ended June 30, 1996 is
computed by dividing income by the weighted average common shares outstanding
including stock equivalents for the respective periods. Earnings (loss) per
common share for the three and six months ended June 30, 1995, as reported in
the Consolidated Statements of Income, were based on the weighted average common
shares outstanding for the respective periods. In 1995, the dilutive effect of
common stock equivalents was not reflected because it was immaterial.