##### 



Exhibit  11.1 Milacron Inc. and Subsidiaries
Computation of Per-Share Earnings (In thousands, except per-share amounts)
    
    2004
    
    
    2003
    
    
    2002(as restated)Loss from continuing operations (a)
    
    $
    (51,304
    )
    
    $
    (183,677
    )
    
    $
    (18,684
    )Loss from discontinued operations
    
    
    (479
    )
    
    
    (7,174
    )
    
    
    (16,817
    )Cumulative effect of change in method of accounting
    
    
    
    
    
    
    
    
    
    
    (187,713
    )Net loss (a)
    
    
    (51,783
    )
    
    
    (190,851
    )
    
    
    (223,214
    )Less preferred dividends
    
    
    (3,150
    )
    
    
    (240
    )
    
    
    (240
    )Less
beneficial conversion feature related to Series B Preferred Stock
    
    
    (15,931
    )
    
    
    
    
    
    
    Net loss available to common shareholders
    
    $
    (70,864
    )
    
    $
    (191,091
    )
    
    $
    (223,454
    )Basic loss per share:Weighted-average common shares outstanding (b)
    
    
    40,955
    
    
    
    36,660
    
    
    
    36,465Per share amount:Continuing operations
    
    $
    (1.72
    )
    
    $
    (5.02
    )
    
    $
    (.52
    )Discontinued operations
    
    
    (.01
    )
    
    
    (.19
    )
    
    
    (.46
    )Cumulative effect of change in method of accounting
    
    
    
    
    
    
    
    
    
    
    (5.15
    )Net loss
    
    $
    (1.73
    )
    
    $
    (5.21
    )
    
    $
    (6.13
    )Diluted loss per share:Weighted-average common shares outstanding (b)(c)
    
    
    40,955
    
    
    
    36,660
    
    
    
    36,465Per share amount:Continuing operations
    
    $
    (1.72
    )
    
    $
    (5.02
    )
    
    $
    (.52
    )Discontinued operations
    
    
    (.01
    )
    
    
    (.19
    )
    
    
    (.46
    )Cumulative effect of change in method of accounting
    
    
    
    
    
    
    
    
    
    
    (5.15
    )Net loss
    
    $
    (1.73
    )
    
    $
    (5.21
    )
    
    $
    (6.13
    )
  (a)
    In the fourth quarter of 2004, the company elected to change its method of accounting
for certain U.S. plastics machinery inventories from the last-in, first-out (LIFO)
method to the first-in, first-out (FIFO) method, retroactive to the beginning of the
year. The amounts presented herein for the years 2002 and 2003 have been restated to
conform to the 2004 presentation.  (b)
    The number of shares used to compute earnings (loss) per common share data for all
years prior to 2004 has been restated to reflect the effects of a bonus element
inherent in a rights offering that was completed in the fourth quarter of 2004. Under
the terms of the offering, holders of common shares were permitted to acquire
additional shares at a price of $2.00 compared to a weighted-average market price on
the closing dates of $2.91 per share. As a result of the bonus element, shares
previously used to calculate basic and diluted earnings (loss) per common share were
increased by a factor of 1.0891.  (c)
    In 2004, the 50.0 million common shares into which the Series B Preferred Stock is
convertible are excluded because their inclusion would result in a smaller loss per
common share. In all years, potentially dilutive restricted shares are also excluded
for similar reasons.