EXHIBIT 11 BEAZER HOMES USA, INC. STATEMENT RECOMPUTATION OF PER SHARE EARNINGS (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) YEAR ENDED SEPTEMBER 30, ------------------------------ 1999 1998 1997 -------- -------- -------- Basic: Earnings-- Net income............................................ $36,934 $23,201 $11,189 Less: Dividends and other payments to preferred stockholders........................................ 3,343 4,000 4,000 ------- ------- ------- Net income applicable to common shareholders.......... $33,591 $19,201 $ 7,189 ======= ======= ======= Shares-- Weighted average number of common shares outstanding......................................... 7,320 5,864 6,088 Basic net income per share................................ $ 4.59 $ 3.27 $ 1.18 ======= ======= ======= Diluted: Earnings Net income applicable to common stockholders.......... $33,591 $19,201 $ 7,189 Plus: Dividends and other payments to preferred stockholders........................................ $ 3,343 $ 4,000 n/a ------- ------- ------- Adjusted net income applicable to common shareholders........................................ $36,934 $23,201 $ 7,189 ======= ======= ======= Shares Weighted average number of common shares outstanding......................................... 7,320 5,864 6,088 Effect of dilutive securities: Assumed conversion of preferred shares.............. 1,232 2,625 n/a Restricted stock.................................... 254 163 142 Options to acquire common stock..................... 89 79 44 ------- ------- ------- Diluted weighted average number of common shares outstanding......................................... 8,895 8,731 6,274 ------- ------- ------- Diluted earnings per share................................. $ 4.15 $ 2.66 $ 1.15 ======= ======= =======