<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-Q

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934
For the quarterly period ended May 31, 1997

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from _______________ to ______________

Commission file number 0-17051

                             Tuscarora Incorporated
            (Exact name of registrant as specified in the charter.)

         Pennsylvania                                   25-1119372
(State or other jurisdiction of                        (IRS Employer
incorporation or organization)                        Identification No.)

                                800 Fifth Avenue
                        New Brighton, Pennsylvania 15066
                    (Address of principal executive offices)
                                   (Zip Code)

                                  412-843-8200
              (Registrant's telephone number, including area code)

                                 Not applicable
              (Former name, former address and former fiscal year,
                         if changed since last report)

          Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months and (2) has been subject to such
filing requirements for at least the past 90 days.

                                Yes _X_  No ___

          As of July 1, 1997, 9,468,117 shares of Common Stock, without par
value, of the registrant were outstanding.


<PAGE>   2

                             Tuscarora Incorporated
                             ----------------------
                                      INDEX

<TABLE>
<CAPTION>
                                                                   Page
                                                                   ----
<S>        <C>                                                     <C>
Part I.    Financial Information

           Item 1.  Financial Statements.

           Condensed Consolidated Balance Sheets at
           May 31, 1997 and August 31, 1996                          3

           Condensed Consolidated Statements of
           Income - Three and nine month periods
           ended May 31, 1997 and May 31, 1996                       4

           Condensed Consolidated Statements of
           Cash Flows - Nine Months ended May 31,
           1997 and May 31, 1996                                     5

           Notes to Condensed Consolidated Financial
           Statements                                               6-7

           Item 2.  Management's Discussion and Analysis
                    of Financial Condition and Results
                    of Operations.                                 8-10

Part II.   Other Information

           Item 1.  Legal Proceedings.                              11

           Item 6.  Exhibits and Reports on Form 8-K.               11
</TABLE>


                                       2


<PAGE>   3


                          PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements

                             Tuscarora Incorporated
                      CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                                                May 31,             August 31,
                                                                                                 1997                  1996
                                                                                             -----------            ----------
                                                                                             (Unaudited)
<S>                                                                                          <C>                   <C>
                                     ASSETS
Current Assets
  Cash and cash equivalents                                                                  $  1,411,395          $  3,379,776
  Trade accounts receivable, net of
    provision for losses                                                                       28,891,709            26,094,406
  Inventories                                                                                  19,352,632            15,666,880
  Prepaid expenses and other current assets                                                     2,840,109             1,771,694
                                                                                             ------------          ------------
                                                                                               52,495,845            46,912,756

Property, Plant and Equipment, net                                                             89,207,366            78,709,646

Other Assets
   Goodwill                                                                                     6,056,930             3,406,779
   Other non-current assets                                                                     3,675,054             2,140,261
                                                                                             ------------          ------------
           Total Assets                                                                      $151,435,195          $131,169,442
                                                                                             ============          ============

                      LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
  Current maturities of long-term debt                                                       $  5,436,226          $  5,346,335
  Accounts payable                                                                             14,093,384            16,416,387
  Accrued income taxes                                                                                 -                153,930
  Accrued payroll and related taxes                                                               526,201               595,282
  Other current liabilities                                                                     2,764,709             1,176,918
                                                                                             ------------          ------------
                                                                                               22,820,520            23,688,852

Long-Term Debt - less current maturities                                                       52,150,579            39,249,136
Deferred Income Taxes                                                                           2,325,005             2,069,988
Other Long-Term Liabilities                                                                     2,106,039             1,334,577
                                                                                             ------------          ------------
           Total Liabilities                                                                   79,402,143            66,342,553

Shareholders' Equity
  Preferred Stock - par value $.01 per share;
    authorized shares, 1,000,000; none issued                                                          -                     -
  Common Stock - without par value; authorized
    shares, 20,000,000; issued shares, 9,471,887
    at May 31, 1997 and 9,426,923 at August 31, 1996                                            9,471,887             9,426,923
  Capital surplus                                                                                 982,307               740,818
  Retained earnings                                                                            61,594,228            54,825,048
  Foreign currency translation adjustment                                                          60,340               (38,690)
                                                                                             ------------          ------------ 
                                                                                               72,108,762            64,954,099
  Less cost of reacquired shares of Common Stock;
    4,620 shares at May 31, 1997 and 12,351 at
    August 31, 1996                                                                                75,710               127,210
                                                                                             ------------          ------------
           Total Shareholders' Equity                                                          72,033,052            64,826,889
                                                                                             ------------          ------------
           Total Liabilities and Shareholders' Equity                                        $151,435,195          $131,169,442
                                                                                             ============          ============
</TABLE>

Note: The consolidated balance sheet at August 31, 1996 has been taken from
      the audited financial statements and condensed. Share numbers and the
      Common Stock and Capital Surplus accounts as of August 31, 1996 have
      been adjusted to reflect the 50% share distribution declared on
      December 18, 1996 payable on January 13, 1997 to holders of record on
      December 27, 1996.

See notes to condensed consolidated financial statements.

                                       3


<PAGE>   4

                             Tuscarora Incorporated
                  CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                         Three Months Ended May 31,               Nine Months Ended May 31,
                                                         1997                 1996                1997                 1996
                                                     ------------         ------------        ------------         ------------
<S>                                                  <C>                  <C>                 <C>                  <C>
Net Sales                                            $ 52,592,726         $ 45,113,282        $155,009,971         $135,597,020
Cost of Sales                                          41,194,724           34,563,391         118,384,373          103,176,672
                                                     ------------         ------------        ------------         ------------
        Gross profit                                   11,398,002           10,549,891          36,625,598           32,420,348

Selling and Administrative
   Expenses                                             7,276,063            5,903,900          21,199,529           18,003,941
Interest Expense                                          943,397              693,752           2,666,076            2,087,718
Other Expense                                              57,592               78,323             163,320               46,208
                                                     ------------         ------------        ------------         ------------
                                                        8,277,052            6,675,975          24,028,925           20,137,867
                                                     ------------         ------------        ------------         ------------

        Income before income
          taxes                                         3,120,950            3,873,916          12,596,673           12,282,481

Provision for Income Taxes                              1,235,572            1,502,649           4,945,935            4,770,074
                                                     ------------         ------------        ------------         ------------
        Net income                                   $  1,885,378         $  2,371,267        $  7,650,738         $  7,512,407
                                                     ============         ============        ============         ============

Net income per share                                     $.20                 $.25                $.81                 $.80
                                                         ====                 ====                ====                 ====
Weighted average number of
   shares of Common Stock
   outstanding                                         9,464,026            9,399,204           9,445,777            9,344,844
                                                       =========            =========           =========            =========
</TABLE>

The per share and share numbers for the three and nine month periods ended May
31, 1996 have been adjusted to reflect the 50% share distribution declared on
December 18, 1996 payable on January 13, 1997 to holders of record on December
27, 1996.

See notes to condensed consolidated financial statements.

                                       4


<PAGE>   5

                             Tuscarora Incorporated
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                                                  Nine Months Ended May 31,
                                                                                                  1997                  1996
                                                                                              ------------          --------
<S>                                                                                           <C>                  <C>
Operating Activities
   Net Income                                                                                 $  7,650,738         $  7,512,407

   Adjustments to reconcile net income to cash provided by operating activities:
      Depreciation                                                                              11,214,791            9,062,681
      Amortization                                                                                 572,113              429,159
      Provision for losses on receivables                                                          477,302              360,000
      Decrease in deferred income taxes                                                            (35,126)            (145,402)
      Loss on sale of property, plant and
         equipment, net                                                                             63,448               96,387
      Stock compensation expense                                                                    10,126                9,122
      Supplemental retirement plan                                                                  99,699                   -

   Changes in operating assets and liabilities, net of effects of business
    acquisitions:
      Decrease (increase):
        Trade accounts receivable                                                                  302,388              392,290
        Inventories                                                                             (1,993,181)             832,991
        Prepaid expenses and other current assets                                                 (264,221)          (1,463,571)
        Other non-current assets                                                                        -              (178,432)
      Increase (decrease):
        Accounts payable                                                                        (3,564,557)          (1,134,610)
        Accrued income taxes                                                                      (742,686)            (222,581)
        Accrued payroll and related taxes                                                         (136,469)              (1,704)
        Other current liabilities                                                               (1,539,586)          (1,509,428)
        Other long-term liabilities                                                                    -                (49,139)
                                                                                              ------------         ------------ 
          Net cash provided by operating activities                                             12,114,779           13,990,170
                                                                                              ------------         ------------

Investing Activities
   Purchase of property, plant and equipment                                                   (15,332,867)         (17,135,608)
   Business acquisitions, net of cash acquired                                                 (10,121,789)              89,022
   Proceeds from sale of property, plant and
      equipment                                                                                    856,502               12,080
                                                                                              ------------         ------------
          Net cash (used for) investing activities                                             (24,598,154)         (17,034,506)
                                                                                              ------------         ------------ 

Financing Activities
   Proceeds from long-term debt                                                                 15,700,000            5,500,000
   Payments on long-term debt                                                                   (4,559,646)          (3,758,638)
   Dividends paid                                                                                 (881,558)            (811,254)
   Proceeds from sale of Common Stock                                                              327,827              277,602
                                                                                              ------------         ------------
          Net cash provided by financing activities                                             10,586,623            1,207,710
                                                                                              ------------         ------------

Effects of Foreign Currency Exchange Rate Changes
   on Cash and Cash Equivalents                                                                    (71,629)              (4,243)
                                                                                              ------------         ------------ 

          Net decrease in cash and cash equivalents                                             (1,968,381)          (1,840,869)

Cash and Cash Equivalents at Beginning of Period                                                 3,379,776            2,659,767
                                                                                              ------------         ------------

Cash and Cash Equivalents at End of Period                                                    $  1,411,395         $    818,898
                                                                                              ============         ============
</TABLE>

See notes to condensed consolidated financial statements.

                                       5


<PAGE>   6

                             Tuscarora Incorporated
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                  (Unaudited)

1. Condensed Consolidated Financial Statements

        The condensed consolidated balance sheet at May 31, 1997 and the
   consolidated statements of income and consolidated statements of cash flows
   for the periods ended May 31, 1997 and May 31, 1996 have been prepared by
   the Company, without audit. In the opinion of Management, all adjustments
   necessary to present fairly the financial position, results of operations
   and changes in cash flows at May 31, 1997 and for the periods presented have
   been made.

        The accompanying condensed consolidated financial statements have been
   prepared in accordance with generally accepted accounting principles for
   interim financial information and with the instructions for Form 10-Q and
   Article 10 of Regulation S-X. Accordingly, they do not include all of the
   information and footnotes required for complete financial statements
   prepared in accordance with generally accepted accounting principles. It is
   suggested that these condensed consolidated financial statements be read in
   conjunction with the financial statements and notes thereto included in the
   Company's 1996 Annual Report to Shareholders and incorporated by reference
   in the Company's annual report on Form 10-K for the fiscal year ended August
   31, 1996.

        The results of operations for the period ended May 31, 1997 are not
   necessarily indicative of the operating results to be expected for the full
   year.

2. Inventories

   Inventories are summarized as follows:

<TABLE>
<CAPTION>
                                           May 31,             August 31,
                                            1997                  1996
                                        ------------          ------------
   <S>                                  <C>                   <C>
   Finished goods                       $ 10,558,298          $  9,739,590
   Work in process                           276,218               215,475
   Raw materials                           6,565,163             4,233,990
   Supplies                                1,952,953             1,477,825
                                        ------------          ------------
                                        $ 19,352,632          $ 15,666,880
                                        ============          ============
</TABLE>

3. Acquisitions

        There have been four acquisitions during the 1997 fiscal year. On
   September 10, 1996, the Company acquired the custom thermoforming business
   of FormPac Corporation in Sandusky, Ohio; on October 4, 1996, the Company
   acquired all the outstanding capital stock of EPS (Moulders) Ltd., a custom
   molding business in Livingston, Scotland; on April 9, 1997, the Company
   acquired the custom thermoforming business of Thermoformers Plus in Chula
   Vista, California; and on May 30, 1997, the Company acquired the integrated
   materials business of Allgood Industries, Inc. in Hayward, California.

                                       6


<PAGE>   7

        The aggregate purchase price for these acquisitions was $13.3 million,
   including $10,340,000 in cash, notes and other obligations valued at
   $2,105,000 and $875,000 of contingent consideration based on the sales or
   operating performance of the business acquired. The amount recorded as
   contingent consideration was based on reasonably attainable sales and a
   specified minimum payment amount. The purchase price exceeded the fair market
   value of the net assets acquired by $2.6 million which was recognized as
   goodwill and is being amortized over 15 years.

        All the acquisitions have been accounted for as purchases. The
   operating results of the acquisitions are included in the Company's
   consolidated results of operations from the date of acquisition. The
   combined operating results, including the results from the acquired
   businesses had they been included at the beginning of the fiscal year, would
   not be materially different from the consolidated results of operations as
   reported.

4. 50% Share Distribution

        On December 18, 1996, the Company's Board of Directors declared a 50%
   share distribution on the Company's Common Stock payable on January 13, 1997
   to shareholders of record on December 27, 1996. In connection with the
   distribution, $1.00 was transferred from the Company's Capital Surplus
   account to the Company's Common Stock account for each share issued.

        All references in the accompanying financial statements to the number
   of shares and per share amounts for the three and nine month periods ended
   May 31, 1996 have been restated to reflect the distribution.

5. Claims and Contingencies

        A lawsuit seeking substantial compensatory and punitive damages as a
   result of the alleged wrongful death of an employee was filed against the
   Company in December 1996. In addition, several legal and administrative
   proceedings against the Company involving claims of employment
   discrimination are pending and the Company is involved in legal and
   administrative proceedings, including one with respect to a Superfund site,
   which may result in the Company becoming liable for a portion of certain
   environmental cleanup costs. In the opinion of Management, the dispositon of
   the proceedings should not have a material adverse effect on the Company's
   financial position or results of operations.

6. Other Information

        In February 1997, the Financial Accounting Standards Board (FASB) issued
   Statement of Accounting Standards No. 128, "Earnings Per Share" which
   requires adoption in the Company's fiscal quarter ended February 28, 1998.
   This Statement generally requires the presentation of basic and diluted
   earnings per share on the face of the Statements of Income. In the opinion of
   Management, the amount of basic earnings per share will not be materially
   different from the earnings per share currently reported on the Statements of
   Income nor will the amount of diluted earnings per share be materially
   different from the basic earnings per share.

                                       7


<PAGE>   8

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

RESULTS OF OPERATIONS - THIRD QUARTER FISCAL 1997
COMPARED TO THIRD QUARTER FISCAL 1996

     Net sales for the quarter ended May 31, 1997 were $52.6 million, an
increase of $7.5 million, or 16.6%, over the same quarter of fiscal 1996.
Approximately 52.3% of the increase in net sales was due to the acquisitions of
FormPac Corporation in Sandusky, Ohio in September 1996, EPS (Moulders) Ltd. in
Livingston, Scotland in October 1996 and Thermoformers Plus in Chula Vista,
California in April 1997. The balance of the increase was due to higher sales at
the Company's core molding operations. The sales increase was achieved despite
slightly lower sales at the Company's integrated materials facilities than in
the prior year, two large customers adjusting inventory levels and reducing
their packaging requirements and price reductions in January 1997 resulting from
lower raw material costs.

     Gross profit for the quarter ended May 31, 1997 was $11.4 million, an 8.0%
increase from $10.5 million in the third quarter of fiscal 1996. The gross
profit margin decreased to 21.7% from 23.4% due to well below objective gross
profit margins at the facilities acquired in the first quarter of fiscal 1997
and at two of the Company's existing manufacturing facilities, the combined
impact on sales of the two large customers adjusting inventory levels and
reducing their packaging requirements and the price reductions.

     Selling and administrative expenses increased $1.4 million or 23.2% for
the quarter ended May 31, 1997 and increased as a percentage of net sales to
13.8% from 13.1% in the same period of fiscal 1996. The dollar increase is due
primarily to increased employee costs added as a result of the acquisitions 
during the fiscal year.

     Interest expense for the quarter ended May 31, 1997 was $943,000 compared
to $694,000 in the same period of fiscal 1996. The increase of $250,000, or
36.0%, is due primarily to increases in long-term debt incurred in connection
with the acquisitions in September and October 1996.

     Income before income taxes for the quarter ended May 31, 1997 decreased to
$3.1 million from $3.9 million in the same period of fiscal 1996, a decrease of
$753,000 or 19.4%. The effective tax rate increased to 39.6% compared to 38.8%
in the same period of fiscal 1996 primarily as a result of the income tax
effect of an operating loss of the UK operations during the 1997 fiscal year.

     Net income for the quarter ended May 31, 1997 was $1.9 million, a decrease
of 20.5% from the $2.4 million earned in the same quarter of fiscal 1996. The
decrease is due primarily to the decrease in gross profit margin.

     The Company expects that the net income for the fourth quarter of fiscal 
1997 will be negatively impacted by continued low gross profit margins at 
certain manufacturing facilities, principally in the businesses acquired during 
the current fiscal year, and continued reduced sales to one large customer as 
well as by selling and administrative expenses and interest expenses resulting 
from the acquisition on May 30, 1997 of the integrated materials business of 
Allgood Industries, Inc. in Hayward, California.


                                       8


<PAGE>   9

RESULTS OF OPERATIONS - NINE MONTHS ENDED MAY 31, 1997
COMPARED TO THE NINE MONTHS ENDED MAY 31, 1996

     Net sales for the nine months ended May 31, 1997 were $155.0 million, an
increase of $19.4 million, or 14.3%, over the same nine month period of fiscal
1996. Approximately 60.5% of the increase in net sales was due to the
acquisitions of Alpine Packaging Corporation in Colorado Springs, Colorado in
December 1995 and of FormPac Corporation and EPS (Moulders) Ltd. in September
and October 1996, respectively. The balance of the increase was due to higher
sales at the Company's core molding operations. The sales increase was achieved
despite lower sales at the Company's integrated materials facilities than in the
prior year, two large customers adjusting inventory levels and reducing their
packaging requirements and reductions in some selling prices.

     Gross profit for the nine months ended May 31, 1997 was $36.6 million, a
13.0% increase from $32.4 million in the first nine months of fiscal 1996. The
gross profit margin was positively affected during the nine months ended May 31,
1997 by lower raw material costs throughout the period and would have been
higher than in the prior fiscal year but for the factors discussed in the
results of operations for the third fiscal quarter. After taking these into
account, the gross profit margin for the nine months ended May 31, 1997,
decreased to 23.6% from 23.9% in the prior fiscal year.

     Selling and administrative expenses for the current nine month period were
$21.2 million, a 17.7% increase over $18.0 million in the previous period.
Selling and administrative expenses increased as a percentage of net sales to
13.7% from 13.3% in the same period of fiscal 1996. The dollar increase is due
primarily to increased employee costs added as a result of the acquisitions in
December 1995 and September and October 1996.

     Interest expense for the nine months ended May 31, 1997 amounted to $2.7
million compared to $2.1 million in the same period of fiscal 1996. The increase
of $578,000, or 27.7%, is due primarily to increases in long-term debt incurred
in connection with the acquisitions in September and October 1996.

     Income before income taxes for the nine months ended May 31, 1997
increased to $12.6 million from $12.3 million in the same period of fiscal
1996, an increase of $314,000 or 2.6%. The effective tax rate increased to
39.3% compared to 38.8% in the same period of fiscal 1996 primarily as a result
of the income tax effect of the 1997 fiscal year operating loss of the UK
operations.

     Net income for the nine months ended May 31, 1997 was $7.7 million, an
increase of 1.8% from the $7.5 million earned in the same period of fiscal
1996.  The increase was due primarily to the increase in net sales.

     For information with respect to the fourth quarter of fiscal 1997, see 
the last paragraph under the discussion of the results of operations for the 
third fiscal quarter.

LIQUIDITY AND CAPITAL RESOURCES

     Net cash provided by operating activities for the nine months ended May
31, 1997 amounted to $12.1 million compared to $14.0 million for the same
period in fiscal 1996. Depreciation and amortization for the same nine month
periods amounted to $11.8 million and $9.5 million, respectively. Because a
substantial portion of the Company's operating expenses are attributable to
depreciation and amortization, the Company believes that its liquidity would
not be adversely affected should a period of reduced earnings occur.

                                       9


<PAGE>   10

     During the nine months ended May 31, 1997, the Company's inventories and
accounts receivable increased as a result of the increased sales level and the
acquisitions during the fiscal year. The net cash provided by operating
activities was less than in the prior fiscal year as a result of increases in
inventories and accounts receivable and decreases in accounts payable.

     Capital expenditures for property, plant and equipment during the nine
months ended May 31, 1997 amounted to $15.3 million, including approximately
$1.6 million for environmental control equipment. The largest amount of the
capital expenditures was for molding presses and related processing equipment.

     As stated above, the Company acquired the custom thermoforming business of
FormPac Corporation in Sandusky, Ohio in September 1996, the custom molding
business of EPS (Moulders) Ltd. in Livingston, Scotland in October 1996 and the
custom thermoforming business of Thermoformers Plus in Chula Vista, California
in April 1997. The Company also acquired the integrated materials business of
Allgood Industries, Inc. in Hayward, California on May 30, 1997. An aggregate of
$10.3 million in cash was paid in connection with these acquisitions,
substantially all of which was borrowed from the Company's principal bank (see
the following paragraph). The Company will continue to look for acquisitions
which will mesh well with the Company's business.

     Total long-term debt of the Company amounted to $52.1 million at May 31,
1997, of which $47.8 million was borrowed under a credit agreement with the
Company's principal bank, including $18.9 million out of an available $40.0
million under a revolving credit agreement. During the nine months ended May
31, 1997, $15.7 million was borrowed under the revolving credit agreement
primarily to fund the acquisitions during the period. Total long-term debt
amounted to $39.2 million at August 31, 1996.

     On December 18, 1996, the Company declared a regular semiannual cash
dividend of $.093 per share (after adjustment for the 50% share distribution
mentioned below) payable on January 6, 1997 to shareholders of record on
December 27, 1996. On December 18, 1996, the Company also declared a 50% share
distribution payable on January 13, 1997 to shareholders of record on December
27, 1996. On June 13, 1997, the Company declared a regular semiannual cash
dividend of $.10 per share payable on July 3, 1997 to shareholders of record on
June 23, 1997. Cash dividends of $.086 per share were paid in January and July
1996, as adjusted for the 50% stock distribution.

     Cash provided by operating activities as supplemented by the amount
available under the bank credit agreement should be sufficient to enable the
Company to continue to fund its operating requirements, capital expenditures
and cash dividends.

INFLATION

     The impact of inflation on the Company's financial position and results of
operations has not been significant during the periods discussed.

                                       10


<PAGE>   11


                           PART II. OTHER INFORMATION

Item. 1.  Legal Proceedings.
          ------------------

        Reference is made to the Company's current report on Form 10-Q for the 
fiscal quarter ended February 28, 1997 for a description of a wrongful death 
action filed against the Company in December 1996 in which substantial 
compensatory and punitive damages are sought as a result of the alleged 
wrongful death of an employee. See Note 5 of the Notes to the Condensed 
Consolidated Financial Statements included in Part I of this current report. 


Item. 6.  Exhibits and Reports on Form 8-K.
          ---------------------------------

      (a)  Exhibits
           --------

      The exhibits listed below are filed as a part of this quarterly report.

<TABLE>
<CAPTION>
            Exhibit No.                          Document
            -----------                          --------
                <S>                    <C>
                11                     Computation of Net Income Per Share.

                27                     Financial Data Schedule.
</TABLE>

      (b)  Reports on Form 8-K
           -------------------

      No events which resulted in the filing of a current report on Form 8-K
occurred during the fiscal quarter ended May 31, 1997.

                                       11


<PAGE>   12


                                   SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                       Tuscarora Incorporated
                                            (Registrant)

Date:  July 15 , 1997                  By  /s/ John P. O'Leary, Jr.
                                          --------------------------
                                           John P. O'Leary, Jr.,
                                           President and
                                           Chief Executive Officer


Date:  July 15 , 1997                  By  /s/ Brian C. Mullins
                                          --------------------------
                                           Brian C. Mullins,
                                           Vice President and
                                           Treasurer (Principal
                                           Financial Officer and
                                           Principal Accounting
                                           Officer)


                                       12


<PAGE>   13


                             Tuscarora Incorporated
                    FORM 10-Q FOR QUARTER ENDED MAY 31, 1997

                                 EXHIBIT INDEX

     The following exhibits are filed as a part of this quarterly report on
Form 10-Q.

<TABLE>
<CAPTION>
  Exhibit
    No.                               Document
  -------                             --------
    <S>                      <C>
    11                       Computation of Net Income Per Share.

    27                       Financial Data Schedule.
</TABLE>