1 TUSCARORA INCORPORATED EXHIBIT 11 - COMPUTATION OF DILUTED NET INCOME PER SHARE THREE MONTHS ENDED NOVEMBER 30, 1998 1997 ------ ----- Weighted average number of shares of Common Stock outstanding 9,527 9,476 Net effect of dilutive stock options - based on the treasury stock method using the average market price for the period 72 224 ------ ------ TOTAL 9,599 9,700 ====== ====== Net income $3,964 $3,772 ====== ====== Per share amount $ .41 $ .39 ====== ====== The computation for the three months ended November 30, 1997 has been restated to conform to SFAS No. 128. The numbers are in thousands except per share data.