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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       Nine Months Ended
                                                    September 30,             September 30,
                                                  1997         1996         1997       1996
                                                 -------      -------      ------     -------
<S>                                                <C>          <C>         <C>         <C>
Weighted average common shares outstanding
  for period                                       8,367        1,151       5,525       1,121

Dilutive employee stock options and warrants          --           --         615          --
                                                 -------      -------      ------     -------
                                                   8,367        1,151       6,140       1,121

Common Equivalent Shares pursuant to Staff
  Accounting Bulletin No. 83 (1)                      --        5,137       2,072       5,137
                                                 -------      -------      ------     -------

Shares used in per share calculations              8,367        6,288       8,212       6,258
                                                 =======      =======      ======     =======

Net income (loss)                                $(1,163)     $  (598)     $  196     $(1,752)
                                                 =======      =======      ======     =======


Net income (loss) per share                      $ (0.14)     $ (0.10)     $ 0.02     $ (0.28)
                                                 =======      =======      ======     =======
</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).


