EXHIBIT 11
BARRETT BUSINESS SERVICES, INC.
STATEMENT OF CALCULATION OF AVERAGE
COMMON SHARES OUTSTANDING
Three Months
Ended Year Ended
Dec. 31, 1994 Dec. 31, 1994
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Primary Earnings Per Share
Weighted average number of shares 6,349,861 6,333,378
Stock option plan shares to be issued at
prices ranging from $3.500 to
$13.563 per share 311,830 320,013
Warrant issues at a price of
$4.20 per share 200,000 200,000
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 (236,156) (262,133)
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Total Primary Shares 6,625,535 6,591,259
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Fully Diluted Earnings Per Share:
Weighted average number of shares 6,349,861 6,333,378
Stock option plan shares to be
issued at prices of ranging from
$3.500 to $13.563 per share 311,830 320,013
Warrant issues at a price of
$4.20 per share 200,000 200,000
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 premature dispositions (230,251) (219,256)
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Total Diluted Shares 6,631,440 6,634,135
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