EXHIBIT 11
TRIGEN ENERGY CORPORATION AND SUBSIDIARIES
Computation of Earnings Per Share
(All amounts in thousands, except share and per share data)
Three Months Ended March 31,
1996 1995
Earnings Per Share - Primary
Net income $4,181 $3,258
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Weighted average number of common
and common equivalent shares applicable
to primary earnings per share calculation 11,469,658 11,372,725
Dilutive effect of stock options 77,516 95,293
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Weighted average number of shares outstanding 11,547,174 11,468,018
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Net income per share - primary $0.36 $0.28
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Earnings Per Share - Assuming Full Dilution
Net income $4,181 $3,258
Plus: Interest on convertible subordinated debt
(net of taxes) 157 109
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Net income for fully diluted earnings per share
calculation $4,338 $3,367
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Weighted average number of common
and common equivalent shares applicable
to fully diluted earnings per share calculation
Weighted average number of shares outstanding 11,469,658 11,372,725
Shares issuable upon conversion of subordinated debt 334,012 250,000
Dilutive effect of stock options 100,490 95,293
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11,904,160 11,718,018
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Net income per share assuming full dilution $0.36 $0.29
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