1 EXHIBIT 11 CLEAN HARBORS, INC. AND SUBSIDIARIES COMPUTATION OF NET INCOME PER SHARE FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 1996 (in thousands) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, -------------------- -------------------- 1996 1995 1996 1995 ------- ------- ------- ------- Net loss $(1,742) $(1,200) $(5,989) $(1,587) Plus preferred dividends accrued 112 112 336 335 ------- ------- ------- ------- Adjusted net loss $(1,854) $(1,312) $(6,325) $(1,922) ======= ======= ======= ======= Loss per common and common equivalent share: Weighted average number of shares outstanding 9,685 9,435 9,623 9,433 Incremental shares for stock options under treasury stock method -- -- -- -- ------- ------- ------- ------- Weighted average number of common and common equivalent shares outstanding 9,685 9,435 9,623 9,433 Loss per common and common equivalent share $ (.19) $ (.14) $ (.66) $ (.20) ======= ======= ======= ======= Loss per common and common equivalent share - assuming full dilution: Weighted average number of shares outstanding 9,685 9,435 9,623 9,433 Incremental shares for stock options under treasury stock method -- -- -- -- ------- ------- ------- ------- Weighted average number of common and common equivalent shares outstanding - assuming full dilution 9,685 9,435 9,623 9,433 ======= ======= ======= ======= Loss per common and common equivalent share - assuming full dilution $ (.19) $ (.14) $ (.66) $ (.20) ======= ======= ======= =======