1 EXHIBIT 11 CLEAN HARBORS, INC. AND SUBSIDIARIES COMPUTATION OF NET INCOME PER SHARE (in thousands except for earnings per share amount) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, 1997 1996 1997 1996 ----------------------- ----------------------- Net loss $ (883) $(2,605) $(2,866) $(4,247) Less preferred dividends accrued 112 112 224 224 ------- ------- ------- ------- Adjusted net loss $ (995) $(2,717) $(3,090) $(4,471) ======= ======= ======= ======= Loss per common and common equivalent share: Weighted average number of shares outstanding 9,911 9,624 9,866 9,592 Incremental shares for stock options under treasury stock method -- -- -- -- ------- ------- ------- ------- Weighted average number of common and common equivalent shares outstanding 9,911 9,624 9,866 9,592 ======= ======= ======= ======= Net loss per common and common equivalent share $ (.10) $ (.28) $ (.31) $ (.47) ======= ======= ======= ======= Loss per common and common equivalent share - assuming full dilution: Weighted average number of shares outstanding 9,911 9,624 9,866 9,592 Incremental shares for stock options under treasury stock method -- -- -- -- ------- ------- ------- ------- Weighted average number of common and common equivalent shares outstanding - assuming full dilution 9,911 9,624 9,866 9,592 ======= ======= ======= ======= Net loss per common and common equivalent share - assuming full dilution $ (.10) $ (.28) $ (.31) $ (.47) ======= ======= ======= =======