<PAGE>   1
                                                                   EXHIBIT 11.1

                     FRITZ COMPANIES, INC. AND SUBSIDIARIES
                        COMPUTATION OF PER SHARE EARNINGS

                 AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS


<TABLE>
<CAPTION>
                                                                                    Five Months      Twelve Months
                                                  Twelve Months Ended May 31,       Ended May 31,   Ended December 31,
                                                    1997              1996              1995(a)           1994
                                                  --------------------------        --------------------------------
<S>                                                 <C>               <C>               <C>                <C>   
PRIMARY
Average common shares outstanding                   35,128            34,239            32,876             30,392
Net effect of dilutive stock options
   - based on the treasury stock method
     using the average market price                    394             1,508                 0              1,160
                                                  --------          --------          --------           --------

Total                                               35,522            35,747            32,876             31,552
                                                  ========          ========          ========           ========

Net income (loss)                                 $    308          $ 25,001          $ (8,319)          $ 30,133
                                                  ========          ========          ========           ========

Net income (loss) per common share                $   0.01          $   0.70          $  (0.25)          $   0.96
                                                  ========          ========          ========           ========

FULLY DILUTED

Average common shares outstanding                   35,128            34,239            32,876             30,392
Net effect of dilutive stock options
   - based on the treasury stock method
     using the year-end market price,
     if higher than average market price               398             1,557                 0              1,556
                                                  --------          --------          --------           --------

Total                                               35,526            35,796            32,876             31,948
                                                  ========          ========          ========           ========

Net income (loss)                                 $    308          $ 25,001          $ (8,319)          $ 30,133
                                                  ========          ========          ========           ========

Net income (loss) per common share                $   0.01          $   0.70          $  (0.25)          $   0.94
                                                  ========          ========          ========           ========
</TABLE>




(a)  Stock options for five months ended May 31, 1995 are anti-dilutive.