EX-11 9 ex11-1.txt CALCULATION OF EARNINGS PER COMMON SHARE EXHIBIT 11.1 LANDSTAR SYSTEM, INC. AND SUBSIDIARY CALCULATION OF EARNINGS PER COMMON SHARE (In thousands, except per share amounts) (Unaudited)
Fiscal Years Ended December 28, December 29, December 30, 2002 2001 2000 ------------ ------------ ------------ Net income $ 49,221 $ 42,794 $ 45,194 ============ ============ ============ Average number of common shares outstanding (1) 16,141 16,672 17,562 ============ ============ ============ Earnings per common share (1) $ 3.05 $ 2.57 $ 2.57 ============ ============ ============ (1) All earnings per share amounts and average number of shares outstanding have been restated to give retroactive effect to a two-for-one stock split effected in the form of a 100% stock dividend declared July 17, 2002.
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