Exhibit 11

Computation of Per-Share Earnings
Milacron Inc. and Subsidiaries
(Unaudited)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In thousands, except per-share amounts)	2005			2004(a)			2005			2004 (a)
Loss from continuing operations	$	(4,351	)	$	(27,971	)	$	(13,446	)	$	(43,964	)
Loss from discontinued operations		590			125			592			(477	)
Net loss		(3,761	)		(27,846	)		(12,854	)		(44,441	)
Less preferred dividends		(1,500	)		(60	)		(3,060	)		(120	)
Net loss applicable to common shareholders	$	(5,261	)	$	(27,906	)	$	(15,914	)	$	(44,561	)
Basic loss per share:
Weighted-average common shares outstanding (a)		47,600			46,476			47,560			41,705
Per-share amount:
Continuing operations	$	(.12	)	$	(.60	)	$	(.34	)	$	(1.06	)
Discontinued operations		.01			—			.01			(.01	)
Net loss	$	(.11	)	$	(.60	)	$	(.33	)	$	(1.07	)
Diluted loss per share:
Weighted-average common shares outstanding (b)		47,600			46,476			47,560			41,705
Per-share amount:
Continuing operations	$	(.12	)	$	(.60	)	$	(.34	)	$	(1.06	)
Discontinued operations		.01			—			.01			(.01	)
Net loss	$	(.11	)	$	(.60	)	$	(.33	)	$	(1.07	)

(a)	The numbers of shares used to compute loss per common shares for 2004 have been restated to reflect the effects of a “bonus element” inherent in a rights offering that was completed in the fourth quarter of that year.
(b)	The 57.1 million common shares into which the 6% Series B Convertible Preferred Stock is convertible and potentially dilutive restricted shares are excluded because their inclusion would result in a smaller loss per common share.

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