EXHIBIT 11.1 SanDisk Corporation Statement Regarding Computation of Per Share Earnings (In thousands, except per share data; unaudited) EXHIBIT NUMBER EXHIBIT TITLE - ------- ---------------------------------------------------------------------------------------------- Three months ended Nine months ended September 30, September 30, 1997 1996 1997 1996 ------- ------- ------- ------- Net income......................... $ 6,802 $ 3,643 $12,617 $10,102 Computations of weighted average common and common equivalent shares outstanding: Weighted average common shares outstanding.................... 22,601 22,218 22,492 22,116 Common stock options............. 2,389 2,050 2,012 2,088 ------- ------- ------- ------- Shares used in computing net income per share................. 24,990 24,268 24,504 24,204 ======= ======= ======= ======= Net income per share applicable to common stockholders........... $ 0.27 $ 0.15 $ 0.51 $ 0.42 ======= ======= ======= =======