1 EXHIBIT 11.0 KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE Three months ended June 30, Six months ended June 30, --------------------------- --------------------------- 1996 1995 1996 1995 -------- -------- -------- -------- ($ and shares in thousands, except per share amount) Net earnings $ 8,226 5,076 13,466 9,885 ======== ========= ======== ======== Shares: Weighted average number of common shares outstanding 26,280 28,073 26,270 28,256 Common equivalent shares for dilutive effect of assumed exercise of stock options 324 304 323 332 -------- -------- -------- -------- 26,604 28,377 26,593 28,588 ======== ======== ======== ======== Earnings per share of common stock $ .31 .18 .51 .35 ======== ======== ======== ========