EXHIBIT 11 TRISM, INC. Computation of Basic and Diluted Earnings Per Common Share (In thousands, except per share amounts, unaudited) Three Months Ended March 31, 1999 1998 Net loss $ (3,845) $ (1,947) ========== =========== Weighted average number of shares Basic: Average common shares outstanding 5,702 5,737 ---------- ---------- Diluted: Average common shares outstanding 5,702 5,737 Common share equivalents resulting from assumed exercise of stock options - - ---------- ---------- 5,702 5,737 Loss per common share: Basic $ (.67) $ (.34) ========== =========== Diluted $ (.67) $ (.34) ========== =========== Earnings (Loss) Per Share Basic earnings (loss) per share excludes dilution and is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding. Common shares outstanding include issued shares less shares held in treasury. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock (common stock equivalents). Diluted earnings per share is calculated by dividing net income by the sum of the weighted average number of common shares outstanding and dilutive common stock equivalents at the end of each reporting period. Common stock equivalents are excluded from the diluted calculation if a net loss was incurred for the period as these transactions are anti-dilutive.