1 EXHIBIT 11 CLEAN HARBORS, INC. AND SUBSIDIARIES COMPUTATION OF NET INCOME (LOSS) PER SHARE For the Three Years Ended December 31, 1996 (in thousands except per share amounts) Fully Type of Security Primary Diluted ---------------- ------- ------- 1994 ---- Weighted average common stock outstanding in 1994... 9,426 9,426 Stock options exercised in 1994..................... 5 4 Stock options and warrants outstanding during 1994.. 107 205 ------ ------ Weighted average shares of common stock outstanding. 9,538 9,635 ====== ====== Net income.......................................... $ 475 $ 475 Less preferred stock dividends accrued.............. 441 441 ------ ------ Adjusted net income................................. $ 34 $ 34 ====== ====== Earnings per share.................................. $ .00 $ .00 ====== ====== 1995 ---- Weighted average common stock outstanding in 1995... 9,457 9,457 Stock options exercised in 1995..................... 3 3 Stock options and warrants outstanding during 1995.. 15 15 ------ ------ Weighted average shares of common stock outstanding. 9,475 9,475 ====== ====== Net loss............................................ $(6,893) $(6,893) Less preferred stock dividends accrued.............. 447 447 ------ ------ Adjusted net loss................................... $(7,340) $(7,340) ====== ====== Loss per share...................................... $ (.77) $ (.77) ====== ====== 1996 ---- Weighted average common stock outstanding in 1996... 9,653 9,653 ------ ------ Weighted average shares of common stock outstanding. 9,653 9,653 ====== ====== Net loss............................................ $(6,943) $(6,943) Less preferred stock dividends accrued.............. 447 447 ------ ------ Adjusted net loss................................... $(7,390) $(7,390) ====== ====== Loss per share...................................... $ (.77) $ (.77) ====== ======