1 Laidlaw Environmental Services, Inc. Statement of Computation of Per Share Earnings Exhibit 11 (Unaudited) Three Months Ended Six Months Ended February 28, February 28, ----------------------- ------------------------ 1998 1997 1998 1997 -------- --------- -------- --------- Basic: Income from continuing operations $ 3,556 $ 1,750 $ 13,700 $ 5,338 Income from discontinued operations -- (917) -- (214) -------- --------- -------- --------- Income available to common stockholders $ 3,556 $ 833 $ 13,700 $ 5,124 ======== ========= ======== ========= Weighted average common stock outstanding (000s) 182,283 120,000 181,523 120,000 ======== ========= ======== ========= Income per share from continuing operations $ 0.020 $ 0.015 $ 0.075 $ 0.044 Income per share from discontinued operations -- (0.008) -- (0.002) -------- --------- -------- --------- Basic income per share $ 0.020 $ 0.007 $ 0.075 $ 0.042 ======== ========= ======== ========= Diluted: Income from continuing operations $ 3,556 $ 1,750 $ 13,700 $ 5,338 Add back: interest expense on conversion of subordinated convertible debenture -- -- 5,171 -- -------- --------- -------- --------- Income available to common stockholders, plus assumed conversions $ 3,556 $ 1,750 $ 18,871 $ 5,338 ======== ========= ======== ========= Income from discontinued operations $ -- $ (917) $ -- $ (214) ======== ========= ======== ========= Diluted income from discontinued operations $ -- $ (917) $ -- $ (214) ======== ========= ======== ========= Weighted average common stock outstanding (000s) 182,283 120,000 181,523 120,000 Dilutive effect of stock options 359 -- 450 -- Dilutive effect of conversion of $350,000,000 subordinated convertible debenture at $3.75 -- -- 93,333 -- -------- --------- -------- --------- Diluted average shares outstanding 182,642 120,000 275,306 120,000 ======== ========= ======== ========= Income per share from continuing operations $ 0.019 $ 0.015 $ 0.069 $ 0.044 Income per share from discontinued operations -- (0.008) -- (0.002) -------- --------- -------- --------- Diluted net income per share $ 0.019 $ 0.007 $ 0.069 $ 0.042 ======== ========= ======== =========