Exhibit 11

CT COMMUNICATIONS, INC.
AND SUBSIDIARIES

Computation of Earnings Per Share
(in thousands, except share and per share data)

		Three months ended					Nine months ended
		September 30,					September 30,
				(Restated)						(Restated)
		2003		2002			2003			2002
Computation of share totals used in computing earnings per share:
Basic weighted average number of shares outstanding (a)			18,764,576		18,670,834			18,740,288			18,721,329
Incremental shares arising from outstanding stock options			87,960		41,843			51,204			43,373
Total weighted average number of diluted shares outstanding (b)			18,852,536		18,712,677			18,791,492			18,762,702
Income from continuing operations (c)			3,149		2,898			16,413			10,000
Loss from discontinued operations (d)			—		(3,416	)		(424	)		(5,104	)
Earnings (loss) for common stock (e)		$	3,144	$	(523	)	$	15,974		$	4,881
Basic earnings (loss) per share:
	Continuing operations (c)/(a)	$	0.17	$	0.16		$	0.88		$	0.53
	Discontinued operations (d)/(a)		—		(0.18	)		(0.02	)		(0.27	)
	Earnings (loss) per share (e)/(a)		0.17		(0.03	)		0.85			0.26
Diluted earnings (loss) per share:
	Continuing operations (c)/(b)		0.17		0.15			0.87			0.53
	Discontinued operations (d)/(b)		—		(0.18	)		(0.02	)		(0.27	)
	Earnings (loss) per share (e)/(b)		0.17		(0.03	)		0.85			0.26