EX-11 3 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)
Thirteen Weeks Ended --------------------------- March 29, March 30, 2003 2002 ------------ ------------- Net income $ 10,159 $ 8,514 ============ ============ Average number of common shares outstanding (1) 15,774 16,193 ============ ============ Earnings per common share (1) $ 0.64 $ 0.53 ============ ============ (1) 2002 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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