EXHIBIT 11
BARRETT BUSINESS SERVICES, INC.
STATEMENT OF CALCULATION OF AVERAGE
COMMON SHARES OUTSTANDING
Three Months Year
Ended Ended
Dec. 31, 1996 Dec. 31, 1996
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Primary Earnings Per Share:
Weighted average number of shares 6,783,811 6,713,943
Stock option plan shares to be issued at prices
ranging from $3.50 to $18.6875 per share 488,855 501,310
Warrant issues at a price of $4.20 per share 90,000 90,000
Less: Assumed purchase at average market
price during the period using proceeds
received upon exercise of options and
purchase of stock, and using tax
benefits of compensation due to
premature dispositions (406,013) (370,365)
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Total Primary Shares 6,956,653 6,934,888
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Fully Diluted Earnings Per Share:
Weighted average number of shares 6,783,811 6,713,943
Stock option plan shares to be issued at prices
ranging from $3.50 to $18.6875 per share 488,855 501,310
Warrant issues at a price of $4.20 per share 90,000 90,000
Less: Assumed purchase at the higher of
ending or average market price during
the period using proceeds received
upon exercise of options and purchase
of stock, and using tax benefits of
compensation due to premature dispositions (406,013) (361,698)
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Total Diluted Shares 6,956,653 6,943,555
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