EXHIBIT 11
SWIFT TRANSPORTATION CO., INC. & SUBSIDIARIES
Schedule of Computation of Net Earnings Per Share
(in thousands, except per share amounts)
Three months Nine months
ended September 30, ended September 30,
1997 1996 1997 1996
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Net earnings $12,882 $ 9,451 $29,645 $18,794
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Weighted average shares:
Common shares outstanding 28,245 24,863 28,131 24,778
Common equivalent shares issuable
upon exercise of employee stock
options (1) 598 693 642 710
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Total weighted average shares
- primary 28,843 25,556 28,773 25,488
Incremental common equivalent
shares (calculated using the higher
of the end of period or average
fair market value)(2) 23 23 30 46
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Total weighted average shares -
fully diluted 28,866 25,579 28,803 25,534
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Net earnings per common
and equivalent share $ .45 $ .37 $ 1.03 $ .74
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Net earnings per common share -
assuming full dilution $ .45 $ .37 $ 1.03 $ .74
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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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