EXHIBIT 11
SWIFT TRANSPORTATION CO., INC. & SUBSIDIARIES
Schedule of Computation of Net Earnings Per Share
(in thousands, except share and per share amounts)
Three months Nine months
ended September 30, ended September 30,
1996 1995 1996 1995
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Net earnings $ 9,451 $ 6,014 $ 18,794 $ 17,764
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Weighted average shares:
Common shares outstanding 24,863 24,620 24,778 24,551
Common equivalent shares issuable
upon exercise of employee stock
options (1) 693 743 710 791
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Total weighted average shares
- primary 25,556 25,363 25,488 25,342
Incremental common equivalent
shares (calculated using the higher
of the end of period or average
fair market value (2) 23 -- 46 --
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Total weighted average shares -
fully diluted 25,579 25,363 25,534 25,342
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Net earnings per common
and equivalent share $ .37 $ .24 $ .74 $ .70
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Net earnings per common share -
assuming full dilution $ .37 $ .24 $ .74 $ .70
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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%.