EXHIBIT 11
SWIFT TRANSPORTATION CO., INC. & SUBSIDIARIES
Schedule of Computation of Net Earnings Per Share
(in thousands, except per share amounts)
Three months Six months
ended June 30, ended June 30,
1996 1995 1996 1995
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Net earnings $ 6,772 $ 7,764 $ 9,343 $11,750
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Weighted average shares:
Common shares outstanding 24,810 24,558 24,734 24,510
Common equivalent shares issuable
upon exercise of employee stock
options (1) 685 716 718 815
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Total weighted average shares
- primary 25,495 25,274 25,452 25,325
Incremental common equivalent
shares (calculated using the higher
of the end of period or average
fair market value (2) 9 16 14 --
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Total weighted average shares -
fully diluted 25,504 25,290 25,466 25,325
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Primary net earnings per common
and equivalent share $ .27 $ .31 $ .37 $ .46
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Fully diluted net earnings per
common and equivalent share $ .27 $ .31 $ .37 $ .46
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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%.