EXHIBIT 11
STERICYCLE, INC. AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(UNAUDITED)
For the three months For the nine months
ended September 30, ended September 30,
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1997 1996 1997 1996
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Weighted average common shares outstanding . . . . . 10,360,219 7,668,295 9,999,026 6,663,738
Assumed conversion of Safeway note . . . . . . . . . 0 98,001 0 98,001
Net effect of dilutive stock options and
warrants based on the treasury stock
method using the mid-point of the
offering price of $9.00 per share until
the initial public offering on August 23,
1996. . . . . . . . . . . . . . . . . . . . . . . . 0 436,259 0 640,177
Common stock issuable upon assumed conversion
of stock options and warrants . . . . . . . . . . . 479,217 0 481,156 0
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Total 10,839,436 8,202,555 10,480,182 7,401,916
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Net income (loss) $ 529 $ (486) $ 811 $ (1,580)
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Per share amount $ 0.05 $ (0.06) $ 0.08 $ (0.21)
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