EXHIBIT 11

UNITIL CORPORATION AND SUBSIDIARY COMPANIES

COMPUTATION OF EARNINGS PER WEIGHTED AVERAGE COMMON SHARE OUTSTANDING

(Millions except common shares and per share data)

(UNAUDITED)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011		2010
Net Income (Loss)	$	(1.6	)	$	(0.1	)	$	6.4	$	4.4
Less: Dividend Requirements on Preferred Stock		—			—			0.1		0.1
Net Income Applicable to Common Stock	$	(1.6	)	$	(0.1	)	$	6.3	$	4.3
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		10,887			10,830			10,875		10,817
Dilutive Effect of Stock Options and Restricted Stock (000’s)		—			—			2		1
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		10,887			10,830			10,877		10,818
Earnings Per Share – Basic and Diluted	$	(0.15	)	$	(0.01	)	$	0.58	$	0.40