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, 2000              Six Months Ended June 30, 2000
                                        --------------------------------------------   -------------------------------------------
                                                                           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          $      (4,175)                                 $     (13,236)
                                        -------------                                  -------------

BASIC EARNINGS PER SHARE

Loss before extraordinary item
  available to common shareholders             (4,175)    30,683,250   $       (0.13)        (13,236)     29,536,833  $      (0.45)
                                                                       =============                                  ============

EFFECT OF DILUTIVE SECURITIES

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

DILUTED EARNINGS PER SHARE

Loss before extraordinary item
  available to common shareholders
  plus assumed conversions              $      (4,175)    30,683,250   $       (0.13)  $     (13,236)     29,536,833  $      (0.45)
                                        =============   ============   =============   =============   =============  ============



Extraordinary item                      $         715                                  $         715
                                        -------------                                  -------------

BASIC EARNINGS PER SHARE

Extraordinary item available to
  common shareholders                             715     30,683,250   $        0.02             715      29,536,833  $       0.03
                                                                       =============                                  ============

EFFECT OF DILUTIVE SECURITIES

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

DILUTED EARNINGS PER SHARE

Extraordinary item available to
  common shareholders plus assumed
  conversions                           $         715     30,683,250   $        0.02   $         715      29,536,833  $       0.03
                                        =============   ============   =============   =============   =============  ============



Net loss                                $      (3,460)                                 $     (12,521)
                                        -------------                                  -------------

BASIC EARNINGS PER SHARE

Net loss available to common
  shareholders                                 (3,460)    30,683,250   $       (0.11)        (12,521)     29,536,833  $      (0.42)
                                                                       =============                                  ============

EFFECT OF DILUTIVE SECURITIES

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

DILUTED EARNINGS PER SHARE

Net loss available to common
  shareholders plus assumed
  conversions                           $      (3,460)    30,683,250   $       (0.11)  $     (12,521)     29,536,833  $      (0.42)
                                        =============   ============   =============   =============   =============  ============

<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>