EXHIBIT 11
SWIFT TRANSPORTATION CO., INC. & SUBSIDIARIES
Schedule of Computation of Net Earnings Per Share
(in thousands, except per share amounts)
Year Ended December 31
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1997 1996 1995
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Net Earnings $41,644 $27,422 $23,040
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Weighted average shares:
Common shares outstanding 42,242 37,434 36,867
Common equivalent shares issuable upon exercise
of employee stock options (1)
942 1,069 1,155
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Total weighted average shares - diluted 43,184 38,503 38,022
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Basic earnings per share $ .99 $ .73 $ .62
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Diluted earnings per share $ .96 $ .71 $ .61
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Notes:
(1) Amount calculated using the treasury stock method and fair market
values.
(2) All share amounts and earnings per share have been retroactively
adjusted to reflect the 3-for-2 stock split payable on March 12, 1998
to shareholders of record at the close of business on March 2, 1998.