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                                                                    Exhibit 11.2


                   SOFTWARE SPECTRUM, INC. AND SUBSIDIARIES
            COMPUTATION OF FULLY-DILUTED EARNINGS (LOSS) PER SHARE
                                  (Unaudited)





                                         Three Months Ended
                                              June 30,
                                   ------------------------------
                                      1996                1995
                                   ---------           ----------
                                                 
Net income (loss)                  $(256,000)          $1,615,000
                                   =========           ==========
Shares as adjusted:
  Average number of shares 
   outstanding                      4,288,084           4,178,067
  Incremental shares       
    from outstanding stock   
    options as determined    
    under the treasury stock 
    method, using the        
    average market price                  --  *            70,591
                                   ---------           ----------
Shares as adjusted                  4,288,084           4,248,658
                                   =========           ==========
Fully-diluted earnings (loss)
  per share                           $(0.06)               $0.38
                                   =========           ==========


*  No incremental shares from outstanding stock options are included
   as they would be anti-dilutive.