Earnings Per Share

3 Months Ended

Jun. 29, 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 (dollars in thousands, except per share amounts):

	Three Months Ended
	June 29, 2013		June 30, 2012
Net income attributable to Cavco common stockholders	$	1,826	$	860
Weighted average shares outstanding:
Basic	6,968,173		6,923,676
Common stock equivalents—treasury stock method	81,061		72,095
Diluted	7,049,234		6,995,771
Net income per share attributable to Cavco common stockholders:
Basic	$	0.26	$	0.12
Diluted	$	0.26	$	0.12

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three months ended June 29, 2013, and June 30, 2012 were 21,991, and 9,055 respectively.