EXHIBIT 11
SWIFT TRANSPORTATION CO., INC. & SUBSIDIARIES
Schedule of Computation of Net Earnings Per Share
(in thousands, except per share amounts)
Three months ended March 31,
1996 1995
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Net earnings $ 2,571 $ 3,986
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Weighted average shares:
Common shares outstanding 24,658 24,462
Common equivalent shares issuable upon
exercise of employee stock options (1) 751 913
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Total weighted average shares - primary 25,409 25,375
Incremental common equivalent shares (calculated
using the higher of the end of period or average
fair market value (2) -- --
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Total weighted average shares - fully diluted 25,409 25,375
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Primary net earnings per common and equivalent share $ .10 $ .16
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Fully diluted net earnings per common and equivalent share $ .10 $ .16
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Notes:
(1) Amount calculated using the treasury stock method and average fair
market values.
(2) The calculation is submitted in accordance with Regulation S-K Item
601(b) (11) although not required by footnote 2 to paragraph 14 of APB
Opinion No. 15 because it results in dilution of less than 3%.