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<PAGE> 1
EXHIBIT 11.1
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
USA TRUCK, INC.
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
----------------------- -----------------------
2000 1999 2000 1999
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Numerator:
Net income and comprehensive income $ 512,357 $1,688,989 $1,298,039 $6,447,909
========== ========== ========== ==========
Denominator:
Denominator for basic earnings per share-
Weighted average shares 9,257,973 9,298,377 9,299,393 9,369,589
Effect of dilutive securities - Employee
stock options 6,143 37,595 6,016 38,994
---------- ---------- ---------- ----------
Denominator for diluted earnings per share -
Adjusted weighted average shares and
Assumed conversions 9,264,116 9,335,972 9,305,409 9,408,583
========== ========== ========== ==========
Basic earnings per share $ 0.06 $ 0.18 $ 0.14 $ 0.69
========== ========== ========== ==========
Diluted earnings per share $ 0.06 $ 0.18 $ 0.14 $ 0.69
========== ========== ========== ==========
</TABLE>
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