Exhibit 11 Landair Services, Inc. Computation of Per Share Earnings
FISCAL YEAR ENDED ----------------------------------------------------- DECEMBER 31, DECEMBER 31, DECEMBER 31, 1996 1995 1994 ----------------------------------------------------- (In thousands, except per share data) PRIMARY Average shares outstanding 5,928 5,850 5,767 Net effect of dilutive stock options - based on the treasury stock method using average market price 124 181 348 ------------------------------------------------------ Totals 6,052 6,031 6,115 ====================================================== Net income $ 3,979 $ 4,517 $ 4,017 ====================================================== Net income per share $ 0.66 $ 0.75 $ 0.66 ====================================================== FULLY DILUTED Average shares outstanding 5,928 5,850 5,767 Net effect of dilutive stock options - based on the treasury stock method using the year-end market price if higher than the average market price 129 182 356 ------------------------------------------------------ Totals 6,057 6,032 6,123 ====================================================== Net income $ 3,979 $ 4,517 $ 4,017 ====================================================== Net income per share $ 0.66 $ 0.75 $ 0.66 ======================================================