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 June 30,						Six Months Ended June 30,
	2012			2011			2012		2011
Net Income (Loss)	$	(0.3	)	$	(0.7	)	$	8.7	$	8.0
Less: Dividend Requirements on Preferred Stock		0.1			0.1			0.1		0.1
Net Income Applicable to Common Stock	$	(0.4	)	$	(0.8	)	$	8.6	$	7.9
Weighted Average Number of Common Shares Outstanding – Basic (000’s)		12,331			10,877			11,624		10,868
Dilutive Effect of Stock Options and Restricted Stock (000’s)		—			—			3		3
Weighted Average Number of Common Shares Outstanding – Diluted (000’s)		12,331			10,877			11,627		10,871
Earnings Per Share – Basic and Diluted	$	(0.03	)	$	(0.08	)	$	0.74	$	0.73