1 EXHIBIT 11. MUSTANG SOFTWARE, INC. COMPUTATION OF EARNINGS PER SHARE (In thousands, except earnings per share) (Unaudited) - - ----------------------------------------------------------------------------- Three Months Ended Nine Months Ended Sept. 30, Sept. 30, 1995 1996 1995 1996 - - ------------------------------------------------------------------------------------------------- Weighted average number of common shares outstanding 3,356 3,363 2,939 3,361 Common stock equivlents from outstanding stock options 34 0 26 0 - - ------------------------------------------------------------------------------------------------ Average common and common stock equivalents outstanding 3,390 3,363 2,965 3,361 ================================================================================================== Net Income $ 419 $(1,118) $ 313 $(2,417) ================================================================================================== Earnings per share (1) $ .12 $ (.33) $ .11 $ (.72) ================================================================================================== (1) Fully diluted earnings per share have not been presented because the effects are not material. - - -----------------------------------------------------------------------------