Earnings Per Share

12 Months Ended

Mar. 30, 2013

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 for fiscal years 2013, 2012, and 2011 (dollars in thousands, except per share amounts):

	Fiscal Year
	2013		2012		2011
Net income attributable to Cavco common stockholders	$	4,963	$	15,237	$	2,831
Weighted average shares outstanding:
Basic	6,956,706		6,877,437		6,637,270
Common stock equivalents—treasury stock method	70,498		71,640		222,187
Diluted	7,027,204		6,949,077		6,859,457
Net income per share attributable to Cavco common stockholders:
Basic	$	0.71	$	2.22	$	0.43
Diluted	$	0.71	$	2.19	$	0.41

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the years ended March 30, 2013, March 31, 2012 and March 31, 2011 were 5,951, 2,568 and 84, respectively.