EX-11 5 f10qex111.htm EXHIBIT 11.1 EARNINGS PER SHARE <SUBMISSION>


EXHIBIT 11.1



LANDSTAR SYSTEM, INC. AND SUBSIDIARY

CALCULATION OF EARNINGS PER COMMON SHARE

(In thousands, except per share amounts)

(Unaudited)




 

Twenty Six Weeks Ended

 

Thirteen Weeks Ended

        
 

June 28,

 

June 29,

 

June 28,

 

June 29,

 

2003

 

2002

 

2003

 

2002

        
        

Net income

$  23,725

 

$  20,762

 

$  13,566

 

$   12,248

        
        

Average number of common shares

       

outstanding

15,713

 

16,223

 

15,652

 

16,252

        
        
        
        

Earnings per common share

$    1.51

 

$    1.28

 

$    0.87

 

$    0.75