Composites exhibit larger dispersion in their material properties compared to conventional materials due to larger number of parameters associated with their manufacturing processes. A $C^0$ finite element method has been used for arriving at an eigenvalue problem using higher order shear deformation theory for initial buckling of laminated composite plates. The material properties have been modeled as basic random variables. A mean-centered first order perturbation technique has been used to find the probabilistic characteristics of the buckling loads with different edge conditions. Results have been compared with Monte Carlo simulation, and those available in literature.