EXHIBIT 11
BEAZER HOMES USA, INC.
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Quarter Ended
December 31,
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1996 1995
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Primary:
Earnings
Net income $2,677 $2,900
Less: Dividend on preferred shares 1,000 1,000
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Net income applicable to common shares $1,677 $1,900
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Shares
Weighted average number of unrestricted
common shares outstanding 6,310,308 6,376,100
Weighted average number of restricted
common shares outstanding, net 140,212 87,256
Dilutive effect of outstanding options
as determined by the application of
the treasury stock method 7,166 64,554
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Weighted average number of shares
outstanding, as adjusted 6,457,686 6,527,910
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Primary net income per share $0.26 $0.29
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Note: Fully diluted earnings per share, which further assumes the conversion
of 2.0 million shares of Series A Cumulative Convertible Exchangeable
Preferred Stock issued in August 1995 into 2.6 million shares of
common stock at the conversion price of $19.05, is not presented since
the effect of such conversion is antidilutive.
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