EXHIBIT 11 KSW, INC. STATEMENT REGARDING COMPUTATION OF NET EARNINGS (LOSS) PER SHARE NINE MONTHS ENDED THREE MONTHS ENDED SEPTEMBER 30,1997 SEPTEMBER 30,1996 SEPTEMBER 30,1997 SEPTEMBER 30,1996 Net earnings/(loss) $ 577,000 ($227,000) $ 63,000 $ 5,000 ============ =========== ============ ============ PRIMARY EARNINGS/(LOSS) PER SHARE Weighted average shares outstanding during the period 5,542,061 5,435,176 5,542,061 5,435,176 Common and common stock equivalent shares using the treasury stock method 218,974 169,171 277,273 145,593 --------- --------- --------- --------- Total shares outstanding for purposes of calculating primary earnings/(loss) per share 5,761,035 5,604,347 5,819,334 5,580,769 ========= ========= ========= ========= Primary earnings/(loss) per common and common equivalent share .10 (.04) .01 0 == ==== === == FULLY DILUTED EARNINGS/(LOSS) PER SHARE Weighted average shares outstanding during the period 5,542,061 5,435,176 5,542,061 5,435,176 Common & Common Stock equivalent shares using the treasury stock method 348,571 169,171 348,571 145,593 ------------ --------- --------- -------- Total shares outstanding for purposes of calculating fully diluted earnings/(loss) per share 5,890,632 5,604,347 5,890,632 5,580,769 ========= ========= ========= ========= Fully diluted earnings/(loss) per common and common equivalent share .10 (.04) .01 0 === ==== === ==