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<PAGE> EXHIBIT 11.1 PROFESSIONAL VETERINARY PRODUCTS, LTD. Statement re Computation of Per Share Earnings The following table sets forth the computation of basic earnings per share: <TABLE> <CAPTION> July 31, 1997 July 31, 1998 July 31, 1999 July 31, 2000 <S> <C> <C> <C> <C> Numerator: Net income 46,030 101,543 140,734 556,599 Denominator: Basic common shares Outstanding 966 1,048 1,188 1,381 Basic earnings per share 47.65 96.89 118.46 403.04 </TABLE>
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