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                                                                    EXHIBIT 11.1


                               ACCELGRAPHICS, INC.
         STATEMENT REGARDING COMPUTATION OF NET INCOME (LOSS) PER SHARE
                  (amounts in thousands, except per share data)

<TABLE>
<CAPTION>
                                                   Three Months Ended          Six Months Ended
                                                         June 30,                  June 30,
                                                    1997         1996          1997         1996
                                                  -------      -------       -------      -------
<S>                                                 <C>          <C>           <C>          <C>  
Weighted average common shares outstanding
  for period                                        6,981        1,108         4,103        1,089

Dilutive employee stock options and warrants          793         --             564         --
                                                  -------      -------       -------      -------
                                                    7,774        1,108         4,667        1,089

Common Equivalent Shares pursuant to Staff
  Accounting Bulletin No. 83 (1)                    1,018        5,137         3,078        5,137
                                                  -------      -------       -------      -------


Shares used in per share calculations               8,792        6,245         7,745        6,226
                                                  =======      =======       =======      =======

Net income (loss)                                 $   525      $  (595)      $ 1,359      $(1,155)
                                                  =======      =======       =======      =======


Net income (loss) per share                       $  0.06      $ (0.10)      $  0.18      $ (0.19)
                                                  =======      =======       =======      =======
</TABLE>

(1) - Includes all Preferred Stock on an as-if converted basis and stock
      options and warrants granted after February 7, 1996 (using the treasury
      stock method).




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