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,
1997 1996 1997 1996
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Net earnings $10,556 $ 6,772 $16,779 $ 9,343
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Weighted average shares:
Common shares outstanding 28,201 24,810 28,074 24,734
Common equivalent shares issuable
upon exercise of employee stock
options (1) 616 685 662 718
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Total weighted average shares
- primary 28,817 25,495 28,736 25,452
Incremental common equivalent
shares (calculated using the higher
of the end of period or average
fair market value (2) 9 10 14
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Total weighted average shares -
fully diluted 28,817 25,504 28,746 25,466
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Net earnings per common
and equivalent share $ .37 $ .27 $ .58 $ .37
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Net earnings per common share -
assuming full dilution $ .37 $ .27 $ .58 $ .37
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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%.
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