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EXHIBIT 11
Statement Re Computation of Per Share Earnings
OHM CORPORATION
COMPUTATION OF PER SHARE EARNINGS
(In Thousands, Except Per Share Data)
Three Months Ended Nine Months Ended
September 30, September 30,
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1997 1996 1997 1996
--------- --------- --------- --------
PRIMARY:
Average shares outstanding $ 27,267 $ 26,862 $ 27,151 $ 26,774
Net effect of dilutive stock options and
warrants-based on the treasury stock method 34 -- --(1) 13
--------- --------- --------- ---------
Total 27,301 26,862 27,151 26,787
========= ========= ========= =========
Net income (loss) $ 4,062 $ 3,996 $ (26,109) $ 7,705
========= ========= ========= =========
Per share amount $ 0.15 $ 0.15 $ (0.96) $ 0.29
========= ========= ========= =========
FULLY DILUTED:
Average shares outstanding $ 27,267 $ 26,862 $ 27,151 $ 26,774
Net effect of dilutive stock options and
warrants-based on the treasury stock method 34(2) 38(2) --(1) 38(2)
--------- --------- --------- ---------
Total 27,301 26,900 27,151 27,812
========= ========= ========= =========
Net income (loss) $ 4,062 $ 3,996 $ (26,109) $ 7,705
========= ========= ========= =========
Per share amount $ 0.15 $ 0.15 $ (0.96) $ 0.29
========= ========= ========= =========
(1) Primary and fully diluted earnings per share computations for the nine
months ended September 30, 1997, do not give effect to stock options and
warrants since their inclusion would have the effect of decreasing the net
loss per share.
(2) Fully dilutive effect of stock options and warrants on per share amounts
for the three and nine months ended September 30, 1997, has not been
presented in the statement of operations since any reduction of less than
3% in the aggregate need not be considered as dilution.