1 Exhibit 11 The J.H. Heafner Company, Inc. Computation of Earnings Per Share (Unaudited) Three months ended March 31, --------------------------------- 1999 1998 ----------- ----------- Average shares outstanding during the period 5,087,667 3,691,000 Incremental shares under stock options and warrants computed under the treasury stock method using the average market 1,235,234 ----------- ----------- price of issuer's stock during the period Total shares for diluted EPS 6,322,901 3,691,000 =========== =========== Income applicable to common shareholders: Net loss $(1,193,000) $ (463,000) =========== =========== Loss per basic common share: $ (0.23) $ (0.13) =========== =========== Loss per diluted share: $ (0.19) $ (0.13) =========== ===========