Running timeit.py from the command line results in the 
directory containing timeit.py (ie, the standard Python 
library) being added to sys.path, and the current 
directory *not* being.

To test, create a file mymod.py in the current directory, 
containing

def test():
    "Stupid test function"
    L = []
    for i in range(100):
        L.append(i)

Now, execute

\Apps\Python\Lib\timeit.py -s "import 
mymod" "mymod.test()"

Result is

Traceback (most recent call last):
  File "\Apps\Python\Lib\timeit.py", line 245, in main
    x = t.timeit(number)
  File "\Apps\Python\Lib\timeit.py", line 159, in timeit
    return self.inner(it, self.timer)
  File "<timeit-src>", line 3, in inner
    import mymod
ImportError: No module named mymod

It's possible to work around this, either by setting 
PYTHONPATH in the environment to ".", or by 
adding "import sys; sys.path.insert(0, '.')" to the code in 
the -s option. But neither is a particularly attractive 
solution.

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Good point. Can you provide a patch?

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user_id=113328

This patch does what I'd expect.

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I won't be offended if someone else checks this in and
closes this issue. :)

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user_id=80475

I've got it from here.

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Applied as timeit.py 1.12.
Thanks for the report and patch.