Exhibit 11
Landair Services, Inc.
Computation of Per Share Earnings
FISCAL YEAR ENDED
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DECEMBER 31, DECEMBER 31, DECEMBER 31,
1996 1995 1994
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(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
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Totals 6,052 6,031 6,115
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Net income $ 3,979 $ 4,517 $ 4,017
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Net income per share $ 0.66 $ 0.75 $ 0.66
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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
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Totals 6,057 6,032 6,123
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Net income $ 3,979 $ 4,517 $ 4,017
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Net income per share $ 0.66 $ 0.75 $ 0.66
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