EXHIBIT 11
STERICYCLE, INC. AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
(UNAUDITED)
Three Months Ended Six Months Ended
June 30, June 30,
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2001 2000 2001 2000
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Numerator:
Net Income................................ $ 5,594 $ 3,086 $ 10,611 $ 6,859
Preferred stock dividends................. (649) (633) (1,294) (1,292)
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Numerator for basic earnings
per share.............................. $ 4,945 $ 2,453 $ 9,317 $ 5,567
Effective of dilutive securities:
Preferred stock dividends............... 649 633 1,294 1,292
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Numerator for diluted earnings
per share income available to
common shareholders after
assumed conversions...................... $ 5,594 $ 3,086 $ 10,611 $ 6,859
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Denominator:
Denominator for basic earnings per share
Weighted average shares.................. 15,405,682 14,792,602 15,323,297 14,784,264
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Effective of dilutive securities:
Employee stock options................... 887,690 616,067 847,291 546,645
Warrants................................. 75,385 149,058 93,871 133,578
Convertible preferred stock.............. 4,483,367 4,359,572 4,465,245 4,359,572
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Dilutive potential shares.................. 5,446,442 5,124,697 5,406,407 5,039,795
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Denominator for diluted earnings
per share adjusted weighted
average shares and assumed
conversions................................ 20,852,124 19,917,299 20,729,704 19,824,059
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Earnings per share - Basic................... $ 0.32 $ 0.17 $ 0.61 $ 0.38
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Earnings per share - Diluted................. $ 0.27 $ 0.15 $ 0.51 $ 0.35
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