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TUSCARORA INCORPORATED
EXHIBIT 11 - COMPUTATION OF NET INCOME PER SHARE
Three Months Ended November 30,
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1997 1996
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(In thousands, except per share data)
PRIMARY
Weighted average number of shares of
Common Stock outstanding 9,476 9,424
Net effect of dilutive stock options -
based on the treasury stock method
using average market price 225 159
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TOTAL 9,701 9,583
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Net income $3,772 $3,692
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Per share amount $ .39 $ .39
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FULLY DILUTED
Weighted average number of shares of
Common Stock outstanding 9,476 9,424
Net effect of dilutive stock options -
based on the treasury stock method
using greater of average market price
or closing market price 225 160
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TOTAL 9,701 9,584
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Net income $3,772 $3,692
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Per share amount $ .39 $ .39
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