Earnings Per Share

9 Months Ended

Dec. 27, 2014

Earnings Per Share [Abstract]

Earnings Per Share, Policy [Policy Text Block]

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.

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				Nine Months Ended
	December 27, 2014		December 28, 2013		December 27, 2014		December 28, 2013
Net income attributable to Cavco common stockholders	$	6,638	$	5,892	$	17,864	$	12,028
Weighted average shares outstanding:
Basic	8,857,449		8,838,832		8,852,822		8,070,619
Common stock equivalents—treasury stock method	159,136		152,840		162,714		112,507
Diluted	9,016,585		8,991,672		9,015,536		8,183,126
Net income per share attributable to Cavco common stockholders:
Basic	$	0.75	$	0.67	$	2.02	$	1.49
Diluted	$	0.74	$	0.66	$	1.98	$	1.47

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three and nine months endedDecember 27, 2014 were 16,512 and 2,722, respectively. There were 4,932 and 5,021 anti-dilutive common stock equivalents excluded for the three and nine months ended December 28, 2013.