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                                                                    EXHIBIT 11.1



                               CARDIOMETRICS, INC.


                 Statement of Computation of Net Loss Per Share
                 (In thousands, except net loss per share data)



<TABLE>
<CAPTION>
                                                                       Three Months Ended                  Nine Months Ended
                                                                         September 30,                       September 30,
                                                                     1996              1995            1996             1995
                                                                 --------------    -------------   -------------    --------------

<S>                                                                   <C>             <C>             <C>             <C>
Net loss                                                              $  (855)        $  (696)        $(1,623)        $(1,911)

Shares used in computation of net loss per share:
  Weighted average of shares of common stock outstanding                6,879             138           6,772             124
  Shares related to Staff Accounting Bulletin Nos. 55, 64 and 83           --             184              --             184
                                                                      -------         -------         -------         -------

  Shares used in net loss per share computation                         6,879             322           6,772             308
                                                                      =======         =======         =======         =======

Net loss per share                                                    $ (0.12)        $ (2.16)        $ (0.24)        $ (6.20)
                                                                      =======         =======         =======         =======
</TABLE>


<TABLE>
<CAPTION>
<S>                                                                                <C>                              <C>
Calculation of shares outstanding for
computing pro forma net loss per share:
  Adjusted to reflect the effect of assumed conversion of
  convertible preferred stock from the date of issuance                                  4,279                            4,177
                                                                                   -------------                    --------------
Shares used in computing pro forma net loss per share                                    4,601                            4,485
                                                                                   -------------                    --------------

Pro forma net loss per share                                                        $     (0.15)                     $    (0.43)
                                                                                   =============                    ==============
</TABLE>

Notes:
(1) The 1996 computation includes the conversion of preferred stock which
occurred upon consummation of the Company's initial public offering on November
3, 1995.