EXHIBIT 11 CLX ENERGY, INC. Computation of Net Income (Loss) Per Share (Unaudited) Six Months Three Months Ended March 31 Ended March 31, -------------- --------------- 2003 2002 2003 2002 ---------- ---------- --------- ----------- Net income (loss) $ 13,055 (110,158) 43,629 (31,564) ========== ========== ========= =========== Weighted average number of common shares outstanding 2,631,936 2,631,936 2,631,936 2,631,936 Common equivalent shares representing shares issuable upon exercise of outstanding Options - - - - ---------- ---------- --------- ----------- 2,631,936 2,631,936 2,631,936 2,631,936 ========== ========== ========= =========== Net income (loss) per share: Basic $ .00 (.04) 0.02 (.01) ========== ========== ========= =========== Diluted $ .00 (.04) 0.02 $ (.01) ========== ========== ========= =========== 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 March 31, 2002) would be to decrease loss per share.