ETHAN ALLEN INTERIORS INC.
                    Computation of Per Share Earnings



                                                 Three Months Ended  
                                                    September 30,     
                                               1996          1995   
                                              --------      --------
Primary Earnings Per Share:
- - ---------------------------

      Average number of
        shares outstanding                  14,344,000    14,434,000 

      Shares repurchased under
        treasury method                       (522,000)     (579,000)

      Net effect of common
        stock equivalents                      817,000       744,000   
                                            ----------    ----------
      Average number of
        shares - primary                    14,639,000    14,599,000
                                       
      Net income                           $ 8,783,000   $ 4,500,000
                                             =========    ==========
      
      Per Share Data
      --------------
      Net income per common share             $ 0.60         $ 0.31  
                                               =====          =====

Earnings Per Common Share:
- - --------------------------

      Earnings per common share are computed by dividing net earnings by 
the weighted average number of shares of common stock and common stock 
equivalents outstanding during each period.  The Company has issued stock 
options and warrants which are the Company's only common stock equivalents.


Fully Diluted Earnings Per Share:
- - ---------------------------------

      Fully diluted earnings per share is within 3% of primary earnings per 
share for all periods presented.