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EXHIBIT 11
CAVALIER HOMES, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER COMMON SHARE
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Thirteen Weeks Ended Twenty-six Weeks Ending
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June 30, July 2, June 30, July 2,
2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Net income (loss) $(13,009,000) $ 2,820,000 $(21,646,000) $ 7,321,000
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SHARES:
Weighted average common shares outstanding (basic) 17,768,472 17,974,834 17,769,640 18,356,435
Dilutive effect if stock options and warrants were exercised -- 96,025 -- 99,969
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Weighted average common shares
outstanding, assuming dilution (diluted) 17,768,472 18,070,859 17,769,640 18,456,404
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