EXHIBIT 11.0 KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE Three months ended March 31, ---------------------------- 1995 1994 ----------- ----------- ($ in thousands, except per share amount) Net earnings $ 4,809 2,897 ======== ====== Shares: Weighted average number of common shares outstanding 28,440 28,382 Common equivalent shares for dilutive effect of assumed exercise of stock options 344 315 ------- ------ 28,784 28,697 ======= ====== Earnings per share of common stock $ .10 .17 ======= ======