EX-11 4 exh11.txt STATEMENT - COMPUTATION OF EARNINGS EXHIBIT (11)
NORTHWEST NATURAL GAS COMPANY Statement re: Computation of Per Share Earnings (Unaudited) Three Months Ended Six Months Ended Thousands, except per share amounts June 30, June 30, ---------------------------------------------------------------------------------------------------------- 2003 2002 2003 2002 ---- ---- ---- ---- Earnings (Loss) Applicable to Common Stock $ 4,315 $ (3,582) $ 30,572 $ 30,270 Debenture Interest Less Taxes 70 74 141 148 ------- -------- -------- --------- Net Income (Loss) Available for Diluted Common Stock $ 4,385 $ (3,508) $ 30,713 $ 30,418 ======= ======== ======== ========= Average Common Shares Outstanding 25,682 25,410 25,649 25,338 Stock Options 39 73 33 61 Convertible Debentures 320 336 320 336 ------- -------- -------- --------- Diluted Common Shares 26,041 25,819 26,002 25,735 ======= ======== ======== ========= Diluted Earnings (Loss) per Share of Common Stock $ 0.17 $ (0.14) $ 1.18 $ 1.18 ======= ======== ======== =========