1 EXHIBIT 11 CLEAN HARBORS, INC. AND SUBSIDIARIES COMPUTATION OF NET INCOME PER SHARE FOR THE SECOND QUARTER ENDED JUNE 30, 1996 (in thousands) Three Months Ended Six Months Ended June 30, June 30, ------------------ ------------------ 1996 1995 1996 1995 ------------------ ------------------ Net income (loss) $(2,605) $ 203 $(4,247) $ (387) Less preferred dividends accrued 112 112 224 223 ------- ------- ------- ------- Adjusted net income (loss) $(2,717) $ 91 $(4,471) $ (610) ======= ======= ======= ======= Income (loss) per common and common equivalent share: Weighted average number of shares outstanding 9,624 9,431 9,592 9,431 Incremental shares for stock options under treasury stock method -- 17 -- 16 ------- ------- ------- ------- Weighted average number of common and common equivalent shares outstanding 9,624 9,448 9,592 9,447 ======= ======= ======= ======= Net income (loss) per common and common equivalent share $ (.28) $ .01 $ (.47) $ (.06) ======= ======= ======= ======= Income (loss) per common and common equivalent share - assuming full dilution: Weighted average number of shares outstanding 9,624 9,431 9,592 9,431 Incremental shares for stock options under treasury stock method -- 18 -- 16 ------- ------- ------- ------- Weighted average number of common and common equivalent shares outstanding - assuming full dilution 9,624 9,449 9,592 9,447 ======= ======= ======= ======= Net income (loss) per common and common equivalent share - assuming full dilution $ (.28) $ .01 $ (.47) $ (.06) ======= ======= ======= =======