1 EXHIBIT 11.0 KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF EARNINGS PER COMMON SHARE Three months ended March 31, ------------------------- 1998 1997 ----------- ---------- (in thousands, except per share amounts) Net earnings from continuing operations $ 5,040 2,622 Net earnings from discontinued operations -- 2,117 ------- ------- Net earnings $ 5,040 4,739 ======= ======= Basic earnings per share: Weighted average number of common shares outstanding 24,051 24,604 ======= ======= Basic earnings per share from continuing operations $ .21 .11 Basic earnings per share from discontinued operations -- .08 ------- ------- Basic earnings per share $ .21 .19 ======= ======= Diluted earnings per share: Weighted average number of common shares outstanding 24,051 24,604 Dilutive shares applicable to stock options 296 209 ------- ------- Shares applicable to diluted earnings 24,347 24,813 ======= ======= Diluted earnings per share from continuing operations $ .21 .11 Diluted earnings per share from discontinued operations -- .08 ------- ------- Diluted earnings per share $ .21 .19 ======= =======