1 Page 51 EXHIBIT 11 HUBBELL INCORPORATED AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE FIVE YEARS ENDED DECEMBER 31, 1993 (In thousands except per share data) 1993 1992 1991 1990 1989 ------- -------- ------- ------- ------- Income before cumulative effect of change in accounting principles $66,306 $94,090 $90,597 $86,022 $79,364 Cumulative effect of change in accounting principles - (16,506) - - - ------- -------- ------- ------- ------- Net Income after cumulative effect of change in accounting principles $66,306 $77,584 $90,597 $86,022 $79,364 ======= ======= ======= ======= ======= Weighted average number of common shares outstanding during the year 31,222 31,177 31,095 31,000 31,089 Common equivalent shares 398 466 475 414 389 ------- ------- ------- ------- ------- Average number of shares outstanding 31,620 31,643 31,570 31,414 31,478 ======= ======= ======= ======= ======= Earnings per share: Income before cumulative effect of change in accounting principles $2.10 $2.97 $2.87 $2.74 $2.52 Cumulative effect of change in accounting principles - ($0.52) - - - Net income $2.10 $2.45 $2.87 $2.74 $2.52