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, 1997 1998 1997 1998 - - --------------------------------------------------------------------------------------------- Weighted average number of common shares outstanding 3,384 4,063 3,381 3,644 Common stock equivlents from outstanding stock options 0 0 0 0 - - -------------------------------------------------------------------------------------------- Average common and common stock equivalents outstanding 3,384 4,063 3,381 3,644 ============================================================================================== Net Income $ (249) $ (263) $( 823) $(1,010) ============================================================================================== Earnings per share (1) $ (.07) $ (.06) $ (.24) $ (.28) ============================================================================================== (1) Fully diluted earnings per share have not been presented because the effects are not material. - - -----------------------------------------------------------------------------