Exhibit 11

MATERION CORPORATION AND SUBSIDIARIES

COMPUTATION OF PER SHARE EARNINGS

	Third Quarter Ended				Nine Months Ended
	Sept. 27,		Sept. 28,		Sept. 27,		Sept. 28,
(Thousands, except per share amounts)	2013		2012		2013		2012
Basic:
Average shares outstanding	20,604		20,432		20,551		20,434
Net Income	$	5,123	$	8,114	$	20,817	$	22,161
Per share amount	$	0.25	$	0.40	$	1.01	$	1.08
Diluted:
Average shares outstanding	20,604		20,432		20,551		20,434
Dilutive stock securities based on the treasury stock method using average market price	327		265		323		205
Totals	20,931		20,697		20,874		20,639
Net Income	$	5,123	$	8,114	$	20,817	$	22,161
Per share amount	$	0.24	$	0.39	$	1.00	$	1.07

Stock appreciation rights with exercise prices in excess of the average market price of common shares totaling 485,000 as of September 27, 2013 and 364,000 as of September 28, 2012 were excluded from the diluted EPS calculations as their effect would have been anti-dilutive.