Exhibit 11
to
Form 10-Q for the Quarterly
Period Ended September 30, 1996
CINCINNATI BELL INC.
COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE
Dollars in millions, except per share amounts; shares in thousands
(Unaudited)
Three Months Nine Months
Ended September 30, Ended September 30,
------------------- -------------------
1996 1995 1996 1995
------ ------ ------ ------
PRIMARY
Weighted average common shares outstanding . . . . . . . . 67,357 66,350 67,150 66,204
Net effect of stock options, if dilutive, based on
the treasury stock method using the average
market price . . . . . . . . . . . . . . . . . . . . . 1,623 595 1,495 395
------ ------ ------ ------
Total shares for computing primary earnings per share. . . 68,980 66,945 66,945 66,599
------- ------ ------ ------
------- ------ ------ ------
Net income (loss). . . . . . . . . . . . . . . . . . . . . $46.9 $28.8 $133.4 $(3.8)
------- ------ ------ ------
------- ------ ------ ------
Net income (loss) per share. . . . . . . . . . . . . . . . $.68 $.43 $1.94 $(.06)
------- ------ ------ ------
------- ------ ------ ------
FULLY DILUTED
Weighted average common shares outstanding . . . . . . . . 67,357 66,350 67,150 66,204
Net effect of stock options, if dilutive, based on
the treasury stock method using the greater
of average or period - end market price. . . . . . . . 1,709 602 1,709 602
------- ------ ------ ------
Total shares for computing fully diluted earnings per share 69,066 66,952 68,859 66,806
------- ------ ------ ------
------- ------ ------ ------
Net income (loss). . . . . . . . . . . . . . . . . . . . . $46.9 $ 28.8 $133.4 $ (3.8)
------- ------ ------ ------
------- ------ ------ ------
Net income (loss) per share. . . . . . . . . . . . . . . . $ .68 $ .43 $ 1.94 $ (.06)
------- ------ ------ ------
------- ------ ------ ------
Earnings per common share for the three and nine months ended September 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 nine months ended September 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 immaterial.