EXHIBIT 11.1


                                                 
         CYMER, INC.                             
        CALCULATION OF                           
      EARNINGS PER SHARE                         
  (in thousands, except per                      
         share data)


                                                 
                                     Year Ended
                                  December 31, 1996
                                    
                                                                    
EARNINGS PER SHARE                               
                                                 
PRIMARY                                          
                                                 
Weighted average number of                       
common shares outstanding               9,935        
                                                 
Assumed exercise of                              
outstanding stock options and 
warrants (1)                            1,275        
                                                 
Weighted average common and                      
common equivalent shares               11,210        
                                                 
Net Income                             $6,510        
                                                 
Primary earnings per share              $0.58        
                                                 
FULLY DILUTED EARNINGS PER SHARE
                                                 
Weighted average number of                       
common shares outstanding               9,935        
                                                 
Assumed exercise of outstanding                         
stock options and warrants (1)          1,631        
                                                 
Weighted average common and                      
common equivalent shares               11,566        
                                                 
Net Income                             $6,510        
                                                 
Fully diluted earnings per  
share                                   $0.56        

                                                 
                 
(1) Computed using the treasury stock method.  See
    Note 1 of Notes to Consolidated Financial Statements.