TRICO MARINE SERVICES, INC.

                                EXHIBIT 11.1

                       COMPUTATION OF EARNINGS PER SHARE

             (In thousands, except share and per share amounts)



<TABLE>
<CAPTION>
                                   Three Months Ended June 30, 1999    Six Months Ended June 30, 1999
                                   --------------------------------    ------------------------------
                                                             Per-                                  Per-
                                       Loss       Shares     share          Loss       Shares     share
                                   (Numerator) (Denominator) Amount     (Numerator) (Denominator) Amount
                                   ----------- ------------- -------    ----------- ------------- ------

<S>                               <C>          <C>           <C>        <C>         <C>           <C>
Loss before extraordinary item    $    (9,006)                          $  (16,349)
                                  ------------                          -----------


BASIC EARNINGS PER SHARE

Loss before extraordinary item
 available to common shareholders      (9,006)    22,975,339 ($0.39)       (16,349)    21,684,051 ($0.75)
                                                             =======                              =======
Effect of Dilutive Securities

Stock option grants                          -             -                      -             -
                                   ----------- -------------            ----------- -------------

DILUTED EARNINGS PER SHARE

Loss before extraordinary item
 available to common shareholders
 plus assumed conversions          $   (9,006)    22,975,339 ($0.39)    $  (16,349)    21,684,051 ($0.75)
                                   =========== ============  =======    =========== ============= =======



Extraordinary item                 $   (1,830)                          $   (1,830)
                                   -----------                          -----------

BASIC EARNINGS PER SHARE

Extraordinary item available to
 common shareholders                   (1,830)   22,975,339  ($0.08)        (1,830)    21,684,051 ($0.09)
                                                             =======                              =======
EFFECT OF DILUTIVE SECURITIES

Stock option grants                         -              -                      -            -
                                   ----------- -------------            ----------- -------------

DILUTED EARNINGS PER SHARE

Extraordinary item available to
 common shareholders plus assumed
 conversions                       $   (1,830)   22,975,339  ($0.08)    $   (1,830)    21,684,051 ($0.09)
                                   =========== ============  =======    =========== ============= =======



Net loss                           $  (10,836)                          $  (18,179)
                                   -----------                          -----------

BASIC EARNINGS PER SHARE

Net loss available to common
 shareholders                         (10,836)  22,975,339   ($0.47)       (18,179)    21,684,051 $0.84
                                                             =======                              =====
EFFECT OF DILUTIVE SECURITIES

Stock option grants                          -             -                      -             -
                                   ----------- -------------            ----------- -------------

DILUTED EARNINGS PER SHARE

Net loss available to common
 shareholders plus assumed
 conversions                       $  (10,836)  22,975,339   ($0.47)    $  (18,179)    21,684,051 ($0.84)
                                   =========== ===========   =======    =========== ============= =======
</TABLE>





                                TRICO MARINE SERVICES, INC.
                                         EXHIBIT 11.1

                            COMPUTATION OF EARNINGS PER SHARE

                  (In thousands, except share and per share amounts)



<TABLE>
<CAPTION>
                                   Three Months Ended June 30, 1998    Six Months Ended June 30, 1998
                                   --------------------------------    ------------------------------
                                                              Per-                                Per-
                                     Income       Shares     share        Income       Shares    share
                                   (Numerator) (Denominator) Amount    (Numerator) (Denominator) Amount
                                   ----------- ------------- ------    ----------- ------------- ------
<S>                                <C>         <C>           <C>       <C>         <C>           <C>
Net income                         $   11,724                          $   21,568
                                   ----------                          ----------

BASIC EARNINGS PER SHARE

Net income available to common
 shareholders                          11,724    20,335,702  $0.58         21,568    20,317,926  $1.06
                                                             =====                               =====
EFFECT OF DILUTIVE SECURITIES

Stock option grants                       -         766,753                     -       780,062

DILUTED EARNINGS PER SHARE

Net income available to common
 shareholders plus assumed
 conversions                       $   11,724    21,102,455  $0.56     $   21,568    21,097,988   $1.02
                                   ==========    ==========  =====     ==========    ==========   =====
</TABLE>