1
Exhibit 11.1
RUSH ENTERPRISES, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME AND PRO FORMA EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS - UNAUDITED)
THREE MONTHS ENDED YEAR ENDED
DECEMBER 31, DECEMBER 31,
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1997 1996 1997 1996
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BASIC EARNINGS PER SHARE CALCULATION
Net Income $ 1,940 $1,607 $5,380 $6,202
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Weighted average number of common shares outstanding 6,644 6,644 6,644 5,590
Earnings per share - Basic $ 0.29 $ 0.24 $ 0.81 $ 1.11
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DILUTED EARNINGS PER SHARE CALCULATION
Net Income $ 1,940 $1,607 $5,380 $6,202
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Weighted average number of common shares outstanding 6,644 6,644 6,644 5,590
Weighted average number of common share equivalents
applicable to stock options 1 -- 1 --
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Common shares and common share equivalents 6,645 6,644 6,645 5,590
Earnings per share - Diluted $ 0.29 $ 0.24 $ 0.81 $ 1.11
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PRO FORMA BASIC AND DILUTED EARNINGS PER SHARE
Pro forma net income after provision for income taxes $ 5,268
Weighted average basic and diluted shares of common stock outstanding 5,338
Pro forma shares issued at offering price to pay undistributed S corporation earnings 252
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Pro forma weighted average basic and diluted shares outstanding 5,590
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Pro forma basic and diluted net income per share $ 0.94
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