Yes you can download and save the setup on a removable disc and then install onto another computer. While installing you can choose the "Sign-in Later" option and continue with the installation and use the software in trial mode. You would however need network for full-product activation, royalty activation for specific clips and online content (if you need any). I would personally suggest that you connect the computer to internet and complete the one-time sign in process.
Just a reminder that Adobe Licensing Agreement allows the customer to use the same purchased activated serial number on no more than two of the customer's computers, and then use one at a time.
I would encourage you to install the program on the second computer at a time when you are connected to the Internet and try to do as many one time first time use feature activations as you can find at that time. If you thinking no internet connection after just the program activation, then I would remind you that those one time first time use features that need activation can run into problems when the computer is run without an Internet connection. Look at the MPEG2 activation in particular. The need for those one time first time use feature activations do not pop up at the same time by their nature.
Thank you guys for your posts, will do as advised. thanks once again
Thanks for the follow up.
Please do not hesitate to ask questions and seek clarification on your Premiere Elements workflows.
Please update us on your progress as your schedule permits.