EXHIBIT 11.0 KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE Three months ended March 31, --------------------- 1999 1998 ------- ------- (in thousands, except per share amounts) Net earnings $ 4,001 $ 5,040 ====== ====== Basic earnings per share: Weighted average number of common shares outstanding 20,341 24,051 ====== ====== Basic earnings per share $ .20 $ .21 ====== ====== Diluted earnings per share: Weighted average number of common shares outstanding 20,341 24,051 Dilutive shares applicable to stock options 106 296 ------ ------ Shares applicable to diluted earnings 20,447 24,347 ====== ====== Diluted earnings per share $ .20 $ .21 ====== ======