Earnings Per Share

3 Months Ended

Jun. 28, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share (dollars in thousands, except per share amounts):

	Three Months Ended
	June 28, 2014		June 29, 2013
Net income attributable to Cavco common stockholders	$	5,759	$	1,826
Weighted average shares outstanding:
Basic	8,848,157		6,968,173
Common stock equivalents—treasury stock method	164,139		81,061
Diluted	9,012,296		7,049,234
Net income per share attributable to Cavco common stockholders:
Basic	$	0.65	$	0.26
Diluted	$	0.64	$	0.26

There were no anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three months ended June 28, 2014, compared to 21,991 excluded for the three months ended June 29, 2013.