Meritage Homes Corporation Quarterly report pursuant to Section 13 or 15(d)

(Loss)/Earnings Per Share

9 Months Ended

Sep. 30, 2011

NOTE 6 — (LOSS)/EARNINGS PER SHARE

Basic and diluted (loss)/earnings per common share were calculated as follows (in thousands, except per share amounts):


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2011			2010		2011			2010
Basic weighted average number of shares outstanding		32,417			32,095		32,358			32,038

Effect of dilutive securities:
Stock options and restricted stock (1)		0			202		0			239


Diluted weighted average shares outstanding		32,417			32,297		32,358			32,277


Net (loss)/income	$	(3,235	)	$	1,219	$	(9,332	)	$	8,045


Basic (loss)/income per share	$	(0.10	)	$	0.04	$	(0.29	)	$	0.25

Diluted (loss)/income per share (1)	$	(0.10	)	$	0.04	$	(0.29	)	$	0.25


Antidilutive stock options not included in the calculation of diluted income per share		1,665			1,040		1,769			737


(1)		For periods with a net loss, basic weighted average shares outstanding are used for diluted calculations as required by GAAP because all options and non-vested shares outstanding are considered anti-dilutive.