1 SERVICE EXPERTS, INC. EXHIBIT 11 - COMPUTATION OF EARNINGS PER SHARE THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, 1996 1997 1996 1997 ------ ------- ------ ------- (Unaudited) (Unaudited) (In thousands, except per share data) Net income $ 197 $ 4,242 $ 259 $ 6,086 Average shares outstanding 1,653 14,079 1,653 13,103 Net effect of dilutive stock options based on the treasury stock method using average market price -- 125 -- 134 ------ ------- ------ ------- Weighted average shares 1,653 14,204 1,653 13,237 ------ ------- ------ ------- Net income per common share $ 0.12 $ 0.30 $ 0.16 $ 0.46 ====== ======= ====== ======= 19