|TRICO MARINE SERVICES, INC.                       
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|EXHIBIT 11.1                                      
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|COMPUTATION OF EARNINGS PER SHARE                 
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|(In thousands, except share and per share amounts)
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|Income (loss) before extraordinary item           
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|Basic earnings per share                          
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|Income (loss) before extraordinary item           
|available to common shareholders                  
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|Effect of Dilutive Securities                     
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|Stock option grants                               
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|Diluted earnings per share                        
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|Income (loss) before extraordinary item           
|available to common shareholders plus             
|assumed conversions                               
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|Extraordinary item                                
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|Basic earnings per share                          
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|Extraordinary item available to                   
|common shareholders                               
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|Effect of Dilutive Securities                     
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|Stock option grants                               
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|Diluted earnings per share                        
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|Extraordinary item available to common            
|shareholders plus assumed conversions             
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|Net income (loss)                                 
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|Basic earnings per share                          
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|Net income (loss) available to common             
|shareholders                                      
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|Effect of Dilutive Securities                     
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|Stock option grants                               
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|Diluted earnings per share                        
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|Net income (loss) available to common             
|shareholders plus assumed conversions             
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