<PAGE>   1
                                                                    EXHIBIT 11.1

                                      PIXAR

                STATEMENT OF COMPUTATIONS OF NET INCOME PER SHARE
                      (IN THOUSANDS, EXCEPT PER SHARE DATA)
                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                               Three Months Ended        Six Months Ended
                                                    June 30,                  June 30,
                                               1997         1996         1997         1996
                                            ----------   ----------   ----------   ----------
<S>                                         <C>          <C>          <C>          <C>   
                                                                         
Weighted average number of shares               41,261       38,350       40,503       38,318
  outstanding                                                                            
Common stock equivalents                         6,759        8,652        7,050        8,710
                                            ----------   ----------   ----------   ----------
                                                                                       
Total shares used in computing net income
  (loss) per share                              48,020       47,002       47,553       47,028
                                            ==========   ==========   ==========   ==========
                                                                                       
Net income from continuing operations       $    8,929   $    4,517   $   14,154       11,024
                                            ==========   ==========   ==========   ==========
                                                                                       
Net income per share from continuing        
  operations                                $     0.19   $     0.09   $     0.30   $     0.24
                                            ==========   ==========   ==========   ==========
                                                                                       
Net income (loss) from discontinued         
  operations                                $     --     $      273   $      (77)  $       45
                                            ==========   ==========   ==========   ==========
                                                                                       
Net income (loss) per share from                                                              
  discontinued operations                   $     --     $     0.01   $     --     $     --
                                            ==========   ==========   ==========   ==========
                                                                                       
Net income                                  $    8,929   $    4,790   $   14,077   $   11,069
                                            ==========   ==========   ==========   ==========
                                                                                       
Net income per share                        $     0.19   $     0.10   $     0.30   $     0.24
                                            ==========   ==========   ==========   ==========
</TABLE>


                                      -21-