1 Exhibit 11 COASTWIDE ENERGY SERVICES, INC. STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS Year Ended December 31, 1994 1993 ----------- ----------- Primary: Average shares outstanding 1,757,572 1,680,011 Net dilutive effect of stock options and warrants 334,860 306,080(1) ----------- ----------- Totals 2,092,432 1,986,091 =========== =========== Net income $ 1,217,000 $ 292,100 =========== =========== Per share amount $ 0.58 $ 0.15(2) =========== =========== Fully Diluted: Average shares outstanding 1,757,572 1,680,011 Net dilutive effect of stock options and warrants 924,260 306,808(1) ----------- ----------- Totals 2,681,832 1,986,091 =========== =========== Net income $ 1,217,000 $ 292,100 =========== =========== Plus: Interest expense on debentures 138,800 -- ----------- ----------- $ 1,355,800 $ 292,100 Per share amount $ 0.51 $ 0.51(2) =========== =========== (1) Common stock equivalents are considered outstanding the entire year. (2) Pro Forma (as if the spin-off discussed in Note 1 to the Consolidated Financial Statements occurred on January 1, 1993)