Exhibit 11
MOSINEE PAPER CORPORATION
MOSINEE, WISCONSIN
COMPUTATION OF PER SHARE EARNINGS
EXHIBIT 11
MOSINEE PAPER CORPORATION
Statement of Computation of Net Income per Share
Quarter Ended Year-To-Date
---------------------- ----------------------
September 30, September 30,
1994 1993 1994 1993
--------- --------- --------- ---------
Net Income $3,059,084 $2,004,399 $7,708,338 $7,953,545
Less: The Sorg Paper Company
Preferred Stock Dividends 17,322 17,322 51,840 51,840
--------- --------- --------- ---------
Net Income Available to Mosinee
Paper Corporation Common Stock $3,041,762 $1,987,077 $7,656,498 $7,901,705
========== ========== ========== ==========
Weighted Average Shares of Mosinee
Paper Corporation Common Stock
Outstanding During the Year 7,148,443 7,148,443 7,148,443 7,148,443
========== ========== ========== ==========
Net Income Per Share* $ 0.4255 $ 0.2780 $ 1.0711 $ 1.1054
========== ========== ========== ==========
Net Income Per Share Rounded
to Nearest Cent $ 0.42 $ 0.28 $ 1.07 $ 1.11
========== ========== ========== ==========
<FN>
*Net Income per Share = Net Income Available to Mosinee Paper Corporation Common Stock
--------------------------------------------------------------
Weighted Average Shares of Mosinee Paper Corporation Common
Stock Outstanding