EXHIBIT 11
BARRETT BUSINESS SERVICES, INC.
STATEMENT OF CALCULATION OF AVERAGE
COMMON SHARES OUTSTANDING
Three Months
Ended
September 30, 1997
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Primary Earnings Per Share:
Weighted average number of shares 6,727,423
Stock option plan shares to be issued at prices
ranging from $3.50 to $17.9375 per share 559,431
Warrant issues at a price of $4.20 per share 30,000
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 (458,953)
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Total Primary Shares 6,857,901
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Fully Diluted Earnings Per Share:
Weighted average number of shares 6,727,423
Stock option plan shares to be issued at prices
ranging from $3.50 to $17.9375 per share 559,431
Warrant issues at a price of $4.20 per share 30,000
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 (439,929)
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Total Diluted Shares 6,876,925
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Note: The effect of common stock equivalents upon the primary and fully diluted
earnings per share calculation is less than 3%; therefore, earnings per share
are based on the weighted average number of shares outstanding during the
period.