1 EXHIBIT 11. MUSTANG SOFTWARE, INC. COMPUTATION OF EARNINGS PER SHARE (In thousands, except earnings per share) (Unaudited) - - ----------------------------------------------------------------------------- Three Months Ended Nine Months Ended September 30, September 30, 1996 1997 1996 1997 - - --------------------------------------------------------------------------------------------- Weighted average number of common shares outstanding 3,363 3,384 3,361 3,381 Common stock equivlents from outstanding stock options 0 0 0 0 - - -------------------------------------------------------------------------------------------- Average common and common stock equivalents outstanding 3,363 3,384 3,361 3,381 ============================================================================================== Net Income $(1,118) $ (249) $(2,418) $ (823) ============================================================================================== Earnings per share (1) $ (.33) $ (.07) $ (.72) $ (.24) ============================================================================================== (1) Fully diluted earnings per share have not been presented because the effects are not material. - - -----------------------------------------------------------------------------