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                                                                 EXHIBIT 11(ii)




                           EAGLE USA AIRFREIGHT, INC.
                       COMPUTATION OF PER SHARE EARNINGS
                                  (UNAUDITED)
             (IN THOUSANDS, EXCEPT PER SHARE AND FOOTNOTE AMOUNTS)


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                                                                                                    THREE MONTHS ENDED
                                                                                                          JUNE 30,
                                                                                                      1997        1996
                                                                                                      ----        ----
<S>                                                                                                <C>         <C> 
Net income.......................................................................................  $ 4,104     $ 3,114

Shares used in computing net income per share (1):
  Weighted average number of shares outstanding..................................................   17,906      17,332
  Incremental shares attributed to outstanding options (2).......................................      767       1,486
                                                                                                   -------    --------
Total shares.....................................................................................   18,673      18,818
Net income per share ............................................................................   $ 0.22      $ 0.17
                                                                                                   =======    ========
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____________________

(1) On July 8, 1996, the Board of Directors authorized a two-for-one
    stock split, effected in the form of a stock dividend, payable August 1,
    1996 to shareholders of record on July 24, 1996.  All references in the
    financial statements to number of shares outstanding and related prices, per
    share amounts and stock option plan data have been retroactively restated to
    reflect the split.

(2) For the three months ended June 30, 1997, calculated assuming exercise of
    options for 2,319,270 shares of common stock at prices ranging from $1.25 to
    $30.63 per share and assumed repurchase of shares at the average market
    price of $23.49 computed as of the beginning of the period. For the three
    months ended June 30, 1996, calculated assuming exercise of options for
    2,434,004 shares of common stock at prices ranging from $1.25 to $18.75 per
    share and assumed repurchase of shares at the average market price of $16.18
    computed as of the beginning of the period.  Pursuant to Securities and
    Exchange Commission Staff Accounting Bulletins and Staff policy, common
    equivalent shares issued during the 12-month period prior to an initial
    public offering at prices substantially below the public offering price are
    presumed to have been issued in contemplation of the initial public offering
    and have been included in the calculation as if they were outstanding since
    the beginning of the period presented (using the treasury stock method and
    the initial public offering price).