EXHIBIT 11
CLX ENERGY, INC.
Computation of Net Income (Loss) Per Share
(Unaudited)
Six months Three months
ended March 31, ended March 31,
--------------- ---------------
2000 1999 2000 1999
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Net income (loss) $ 29,786 ( 52,678) ( 1,628) ( 35,444)
Preferred stock dividends - ( 2,747) - ( 737)
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Net income (loss) applicable to
common shareholders $ 29,786 ( 55,425) ( 1,628) ( 36,181)
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Weighted average number of common
shares outstanding 10,548,132 6,083,473 10,548,132 8,135,340
Common equivalent shares
representing shares issuable
upon exercise of outstanding
options 277,778 - - -
---------- --------- ---------- ---------
10,825,910 6,083,473 10,548,132 8,135,340
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Net income (loss) per share
applicable to common shareholders:
Basic $ 0.00 ( 0.01) ( 0.00) ( 0.00)
========== ========= ========== =========
Diluted $ 0.00 ( 0.01) ( 0.00) ( 0.00)
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Stock options are not considered in the calculations for those periods with net losses
as the impact of the potential common shares (approximately 277,7778 shares at March 31,
2000 and approximately 40,000 shares at March 31, 1999) would be to decrease net loss per share.