<PAGE>

EXHIBIT 11.1
 
                         SILICON STORAGE TECHNOLOGY, INC. 
        STATEMENT REGARDING COMPUTATION OF NET INCOME (LOSS) PER SHARE 
                      (IN THOUSANDS, EXCEPT PER SHARE DATA)
 
PRIMARY BASIS:
 
<TABLE>
<CAPTION>
                                                                             THREE MONTHS ENDED
                                                                                 MARCH 31,
                                                                            --------------------
                                                                              1996       1997
                                                                            ---------  ---------
<S>                                                                         <C>        <C>
Weighted average shares of common stock...................................     22,800     23,269
Weighted average shares of common stock obtainable on exercise of 
  options and warrants and upon conversion of convertible   
  preferred stock.........................................................      2,380         --
                                                                            ---------  ---------
Shares used in per share calculation......................................     25,180     23,269
                                                                            ---------  ---------
Net income (loss).........................................................  $   4,199  ($  2,519)
                                                                            ---------  ---------
Net income (loss) per share...............................................  $    0.17  ($   0.11)
                                                                            ---------  ---------
                                                                            ---------  ---------
</TABLE>

FULLY DILUTED BASIS:
 
<TABLE>
<CAPTION>
                                                                             THREE MONTHS ENDED
                                                                                 MARCH 31,
                                                                            --------------------
                                                                              1996       1997
                                                                            ---------  ---------
<S>                                                                         <C>        <C>
Weighted average shares of common stock...................................     22,800     23,269
Weighted average shares of common stock obtainable on exercise of 
  options and warrants and upon conversion of convertible 
  preferred stock.........................................................      2,382         --
                                                                            ---------  ---------
Shares used in per share calculation......................................     25,182     23,269
                                                                            ---------  ---------
Net income (loss).........................................................  $   4,199  ($  2,519)
                                                                            ---------  ---------
Net income (loss) per share...............................................  $    0.17  ($   0.11)
                                                                            ---------  ---------
                                                                            ---------  ---------
</TABLE>
 
    Net income (loss) per share is presented in the Company's financial 
statements under the primary basis as the effect of dilution under the 
fully diluted basis is not material.
 
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