EXHIBIT 11.1 JEVIC TRANSPORTATION, INC. PRO FORMA NET INCOME PER SHARE CALCULATION (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, ------------------ ------------------ 1997 1996 1997 1996 ------ ------ ------ ------ Pro forma net income ....................... $2,463 $2,046 $5,184 $2,543 ====== ====== ====== ====== Weighted average shares outstanding ........ 6,858 6,858 6,858 6,858 Dilutive effect of common stock equivalents.............................. 179 179 179 179 Weighted average number of shares that were required to be sold to fund distributions to the S Corporation shareholders ....... 728 728 728 728 ------ ------ ------ ------ Shares used in computing pro forma income per share ........................ 7,765 7,765 7,765 7,765 ====== ====== ====== ====== Pro forma net income per share ............. $ 0.32 $ 0.26 $ 0.67 $ 0.33 ====== ====== ====== ======