Materion (MTRN) 10-Q 2015 Q2 Quarterly report

Exhibit 11

MATERION CORPORATION AND SUBSIDIARIES

COMPUTATION OF PER SHARE EARNINGS

	Second Quarter Ended				Six Months Ended
	Jul. 3,		Jun. 27,		Jul. 3,		Jun. 27,
(Thousands, except per share amounts)	2015		2014		2015		2014
Basic:
Average shares outstanding	20,153		20,642		20,149		20,625
Net Income	$	8,878	$	9,974	$	18,507	$	17,305
Per share amount	$	0.44	$	0.48	$	0.92	$	0.84
Diluted:
Average shares outstanding	20,153		20,642		20,149		20,625
Dilutive stock securities based on the treasury stock method using average market price	308		359		305		358
Total	20,461		21,001		20,454		20,983
Net Income	$	8,878	$	9,974	$	18,507	$	17,305
Per share amount	$	0.43	$	0.47	$	0.90	$	0.82

Stock appreciation rights with exercise prices in excess of the average market price of common shares totaling 478,000 for the quarter ended July 3, 2015 and 409,000 for the quarter ended June 27, 2014 and 428,000 for the first half ended July 3, 2015 and 562,000 for the first half ended June 27, 2014 were excluded from the dilution calculation as their effect would have been anti-dilutive.