Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share (Restated)
(in thousands, except per share data)
For the three months ended June 30, | |||||||||||||||
Basic | Diluted (a) | ||||||||||||||
2011 | 2010 | 2011 | 2010 | ||||||||||||
(Restated) | (Restated) | ||||||||||||||
Average number of common shares outstanding | 61,933 | 60,718 | 61,933 | 60,718 | |||||||||||
Average common shares due to assumed conversion of stock options | — | — | — | — | |||||||||||
Total shares | 61,933 | 60,718 | 61,933 | 60,718 | |||||||||||
Income (loss) from continuing operations, net | $ | (5,587 | ) | $ | (40,677 | ) | $ | (5,587 | ) | $ | (40,677 | ) | |||
Income (loss) from discontinued operations, net | (23,490 | ) | (8,637 | ) | (23,490 | ) | (8,637 | ) | |||||||
Net loss | $ | (29,077 | ) | $ | (49,314 | ) | $ | (29,077 | ) | $ | (49,314 | ) | |||
Per share data: | |||||||||||||||
Income (loss) from continuing operations, net | $ | (0.09 | ) | $ | (0.67 | ) | $ | (0.09 | ) | $ | (0.67 | ) | |||
Income (loss) from discontinued operations, net | (0.38 | ) | (0.14 | ) | (0.38 | ) | (0.14 | ) | |||||||
Net loss per share | $ | (0.47 | ) | $ | (0.81 | ) | $ | (0.47 | ) | $ | (0.81 | ) | |||
For the six months ended June 30, | |||||||||||||||
Basic | Diluted (a) | ||||||||||||||
2011 | 2010 | 2011 | 2010 | ||||||||||||
(Restated) | (Restated) | ||||||||||||||
Average number of common shares outstanding | 61,879 | 60,414 | 61,879 | 60,414 | |||||||||||
Average common shares due to assumed conversion of stock options | — | — | — | — | |||||||||||
Total shares | 61,879 | 60,414 | 61,879 | 60,414 | |||||||||||
Income (loss) from continuing operations, net | $ | (987 | ) | $ | (39,775 | ) | $ | (987 | ) | $ | (39,775 | ) | |||
Income (loss) from discontinued operations, net | (25,729 | ) | 27,204 | (25,729 | ) | 27,204 | |||||||||
Net loss | $ | (26,716 | ) | $ | (12,571 | ) | $ | (26,716 | ) | $ | (12,571 | ) | |||
Per share data: | |||||||||||||||
Income (loss) from continuing operations, net | $ | (0.02 | ) | $ | (0.66 | ) | $ | (0.02 | ) | $ | (0.66 | ) | |||
Income (loss) from discontinued operations, net | (0.42 | ) | 0.45 | (0.42 | ) | 0.45 | |||||||||
Net loss per share | $ | (0.44 | ) | $ | (0.21 | ) | $ | (0.44 | ) | $ | (0.21 | ) |
(a) | When the computed diluted values are antidilutive, the basic per share values are presented on the face of the unaudited Condensed Consolidated Statements of Operations. |