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                                                                    EXHIBIT 11.1

                        SPLASH TECHNOLOGY HOLDINGS, INC.
                     COMPUTATION OF EARNINGS PER SHARE  (1)
                                  (Unaudited)
                     (in thousands, except share amounts)

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<CAPTION>
                                                                                         THREE MONTHS   
                                                                                             ENDED      
                                                                                       DECEMBER 31, 1996
                                                                                       -----------------
<S>                                                                 <C>                <C>             
Weighted average common shares
  outstanding for the period................................                             11,582,142

Common equivalent shares pursuant
  to Staff Accounting Bulletin No. 83 (2)...............

  Common equivalent shares deemed
     outstanding from options and warrants to acquire
     common stock deemed converted
     using Modified Treasury Stock Method...................         76,883

  Common equivalent shares outstanding
     from conversion of preferred stock.....................        151,402                 228,285
                                                                    -------

Dillutive Options...........................................                                259,790
                                                                                         ----------
Shares used in per share calculation........................                             12,070,217
                                                                                        ===========

Net income..................................................                            $     3,541
Cumulative dividends on preferred stock, net of.............                                     (4)
  redemption of preferred stock.............................                             ----------
Adjusted net income.........................................                            $     3,537
                                                                                        ===========

Net income per share........................................                                  $0.29
                                                                                        ===========
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(1)  This exhibit presents the primary and fully diluted computations of net
    loss per share.  There is no significant difference in the per-share amounts
    when applying either method.

(2)  The number of common equivalent shares which were issued during the twelve
    months immediately preceeding the Company's initial public offering date
    pursuant to the grant of stock options (using the treasury stock method and
    proposed offering price) and the issuance of warrants and other common stock
    equivalents have been included in the calculation of common equivalent
    shares pursuant to Securities and Exchange Commission Staff Accounting
    Bulletin No. 83.