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, 1999 1998 1999 1998 - - ------------------------------------------------------------------------------ Weighted average number of common shares outstanding 4,695 4,063 4,510 3,644 Common stock equivlents from outstanding stock options 0 0 0 0 - - ------------------------------------------------------------------------------ Average common and common stock equivalents outstanding 4,695 4,063 4,510 3,644 ================================================================================ Net Income $(229) $ (263) $ (332) $ 1,010) ================================================================================ Earnings per share (1) $(.05) $ (.06) $ (.07) $ (.28) ================================================================================ (1) Fully diluted earnings per share have not been presented because the effects are not material. - - -----------------------------------------------------------------------------