Exhibit 11 CTC COMMUNICATIONS CORP. STATEMENTS REGARDING COMPUTATION OF PER SHARE EARNINGS (IN THOUSANDS EXCEPT FOR PER SHARE DATA) Three Months Ended Nine Months Ended December 31, December 31, December 31, December 31, 1996 1995 1996 1995 ------------- ------------- ------------- ------------- PRIMARY Average shares outstanding 1,098 1,191 1,238 1,088 Net effect of stock options, if dilutive, based on the treasury stock method using the average market price 9,608 9,482 9,598 9,400 ---------- ---------- ---------- ---------- Total 10,706 10,673 10,836 10,488 Net income $ 1,159 $ 1,175 $ 3,402 $ 2,813 ---------- ---------- ---------- ---------- Net income per share $ 0.11 $ 0.11 $ 0.31 $ 0.27 ---------- ---------- ---------- ---------- FULLY DILUTED Average shares outstanding 1,098 1,191 1,254 1,130 Net effect of stock options, if dilutive, based on the treasury stock method using the period-end market price 9,608 9,482 9,598 9,400 ---------- ---------- ---------- ---------- Total 10,706 10,673 10,852 10,530 Net income $ 1,159 $ 1,175 $ 3,402 $ 2,813 ---------- ---------- ---------- ---------- Net income per share $ 0.11 $ 0.11 $ 0.31 $ 0.27 ---------- ---------- ---------- ----------