EXHIBIT 11 CLX ENERGY, INC. Computation of Net Income (Loss) Per Share (Unaudited) Nine Months Three Months Ended June 30 Ended June 30, ---------------------- --------------------- 2002 2001 2002 2001 ----------- --------- ---------- --------- Net income (loss) $ (103,419) 220,502 $ 6,739 45,824 =========== ========= ========== ========= Weighted average number of common shares outstanding 2,631,936 2,634,850 2,631,936 2,631,984 Common equivalent shares representing shares issuable upon exercise of outstanding options - 129,630 - 129,630 ----------- --------- ---------- --------- 2,631,936 2,764,480 2,631,936 2,761,614 =========== ========= ========== ========= Net income (loss) per share: Basic $ ( .04) .08 $ 0.00 0.02 =========== ========= ========== ========= Diluted $ ( .04) .08 $ 0.00 0.02 =========== ========= ========== ========= Stock options are not considered in the diluted EPS calculation for those periods with net losses, as the impact of the potential common shares (250,000 shares at June 30, 2002) would be to decrease loss per share.