INDIVIDUAL, INC. Exhibit 11 COMPUTATION OF WEIGHTED AVERAGE SHARES USED IN COMPUTING LOSS PER SHARE AMOUNTS PRIMARY FULLY DILUTED SUPPLEMENTAL Type of Security SHARES SHARES SHARES (1) - ------------------------------------------------------------------ -------------- -------------- ------------- FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1996: Common stock less shares held in treasury, beginning of period. 15,333,896 15,333,896 15,333,896 Weighted average common stock issued during the period. . . . . 62,053 62,053 62,053 Weighted average treasury stock repurchased during the period . 0 0 0 -------------- -------------- ------------- Weighted average shares of common stock outstanding. . . . 15,395,949 15,395,949 15,395,949 ============== ============== ============= Net loss per common share. . . . . . . . . . . . . . . . . ($0.27) ($0.27) ($0.27) ============== ============== ============= FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1997: Common stock less shares held in treasury, beginning of period. 16,092,129 16,092,129 16,092,129 Weighted average common stock issued during the period. . . . . 105,148 105,148 105,148 Weighted average shares of common stock outstanding . . . . . 16,197,277 16,197,277 16,197,277 ============== ============== ============= Net loss per common share . . . . . . . . . . . . . . . . . . ($0.17) ($0.17) ($0.17) ============== ============== ============= PRIMARY. . . . . . . . . . . . . . . . . . . . . . . . . . . . FULLY DILUTED SUPPLEMENTAL Type of Security . . . . . . . . . . . . . . . . . . . . . . . . . SHARES SHARES SHARES (1) - ------------------------------------------------------------------ -------------- -------------- ------------- FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996: Common stock less shares held in treasury, beginning of period. 2,813,035 2,813,035 2,813,035 Weighted average common stock issued during the period. . . . . 2,937,490 2,937,490 2,937,490 Weighted average treasury stock repurchased during the period . (1,089) (1,089) (1,089) Conversion of preferred stock and redeemable preferred stock into common stock (1). . . . . . . . . . . . . . . . . . . . 5,390,716 5,390,716 7,625,210 -------------- -------------- ------------- Weighted average shares of common stock outstanding. . . . 11,140,152 11,140,152 13,374,646 ============== ============== ============= Net loss per common share. . . . . . . . . . . . . . . . . ($4.01) ($4.01) ($3.34) ============== ============== ============= FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997: Common stock less shares held in treasury, beginning of period. 15,689,633 15,689,633 15,689,633 Weighted average common stock issued during the period. . . . . 321,225 321,225 321,225 Weighted average shares of common stock outstanding . . . . . 16,010,858 16,010,858 16,010,858 ============== ============== ============= Net loss per common share . . . . . . . . . . . . . . . . . . ($0.86) ($0.86) ($0.86) ============== ============== ============= <FN> (1) Upon completion of the public offering on March 20, 1996, the redeemable preferred stock and preferred stock converted to 7,625,210 shares of common stock. Accordingly, the supplemental earnings per share calculation has assumed the conversion of all shares of redeemable preferred stock and preferred stock, effected for the 3-for-2 split, at the beginning of each period presented.