EXHIBIT 11
                                     
           EXECUTONE INFORMATION SYSTEMS, INC. AND SUBSIDIARIES
           STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS



                              Three Months Ended           Nine Months Ended
                                September  30,               September 30,
                              1996          1995           1996         1995 

                                                            
NET INCOME (LOSS)         $ 2,124,000   $ 1,323,000   $ 20,624,000 $(38,496,000)

WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING 51,605,000    46,898,000     51,779,000   46,478,000

COMMON STOCK EQUIVALENT SHARES
  ASSUMED TO BE ISSUED FOR
  DILUTIVE STOCK OPTIONS AND
  WARRANTS                    571,000     2,116,000        779,000          ---

TOTAL WEIGHTED AVERAGE COMMON
  AND COMMON EQUIVALENT SHARES
  OUTSTANDING              52,176,000    49,014,000     52,558,000   46,478,000


EARNINGS (LOSS) PER COMMON
  SHARE                   $      0.04   $      0.03   $       0.39 $      (0.83)
























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