EXHIBIT 11 BARRETT BUSINESS SERVICES, INC. STATEMENT SHOWING CALCULATION OF AVERAGE COMMON SHARES OUTSTANDING Three Months Six Months Ended Ended June 30, 1994 June 30, 1994 ------------- ------------- Primary Earnings Per Share: Weighted average number of shares 6,328,000 6,321,238 Stock option plan shares to be issued at prices of $3.50 to $13.563 per share 370,527 314,707 Warrant issues at a price of $4.20 per share200,000200,000 Less:Assumed purchase at average market price during the period using proceeds received upon exercise of options and purchase of stock, and using tax benefits of compensation due to premature dispositions (276,452) (255,595) ----------- ----------- Total Primary Shares 6,622,075 6,580,350 =========== =========== Fully Diluted Earnings Per Share: Weighted average number of shares 6,328,000 6,321,238 Stock option plan shares to be issued at a price of $3.50 to $13.563 per share370,527 314,707 Warrant issues at a price of $4.20 per share200,000200,000 Less:Assumed purchase at the higher of ending or average market price during the period using proceeds received upon exercise of options and purchase of stock, and using tax benefits of compensation due to pre- mature dispositions (276,452) (255,595) ----------- ----------- Total Diluted Shares 6,622,075 6,580,350 =========== =========== Note:As the effect of common stock equivalents upon the weighted average common stock earnings per share calculation is greater than 3%, earnings per share are based on the weighted average number of common stock and common stock equivalents outstanding during the period.