EXHIBIT 11.0 KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE Three months ended Six months ended June 30, June 30, ------------------ ------------------ 1994 1993 1994 1993 -------- -------- -------- -------- ($ in thousands, except per share amounts) Net earnings $ 3,193 6,500 6,090 10,345 ====== ===== ===== ====== Shares: Weighted average number of common shares outstanding 28,433 24,991 28,408 23,940 Common equivalent shares for dilutive effect of assumed exercise of stock options 327 289 336 258 ------ ------ ----- ----- 28,760 25,280 28,744 24,198 ====== ====== ====== ====== Earnings per share of common stock $ .11 .26 .21 .43 ====== ====== ====== ======