Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
(in thousands, except per share data)
For the three months ended September 30, | |||||||||||||||
Basic | Diluted (a) | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Average number of common shares outstanding | 61,560 | 62,059 | 61,560 | 62,059 | |||||||||||
Average common shares due to assumed conversion of stock options | — | — | 467 | 505 | |||||||||||
Total shares | 61,560 | 62,059 | 62,027 | 62,564 | |||||||||||
Income from continuing operations, net | $ | 6,757 | $ | 11,779 | $ | 6,757 | $ | 11,779 | |||||||
Loss from discontinued operations, net | (7,115 | ) | (12,569 | ) | (7,115 | ) | (12,569 | ) | |||||||
Net loss | $ | (358 | ) | $ | (790 | ) | $ | (358 | ) | $ | (790 | ) | |||
Per share data: | |||||||||||||||
Income from continuing operations, net | $ | 0.11 | $ | 0.19 | $ | 0.10 | $ | 0.19 | |||||||
Loss from discontinued operations, net | (0.12 | ) | (0.20 | ) | (0.11 | ) | (0.20 | ) | |||||||
Net loss per share | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.01 | ) | |||
For the nine months ended September 30, | |||||||||||||||
Basic | Diluted (a) | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Average number of common shares outstanding | 62,095 | 61,940 | 62,095 | 61,940 | |||||||||||
Average common shares due to assumed conversion of stock options | — | — | 403 | 513 | |||||||||||
Total shares | 62,095 | 61,940 | 62,498 | 62,453 | |||||||||||
Income from continuing operations, net | $ | 19,374 | $ | 12,507 | $ | 19,374 | $ | 12,507 | |||||||
Loss from discontinued operations, net | (8,783 | ) | (40,014 | ) | (8,783 | ) | (40,014 | ) | |||||||
Net income (loss) | $ | 10,591 | $ | (27,507 | ) | $ | 10,591 | $ | (27,507 | ) | |||||
Per share data: | |||||||||||||||
Income from continuing operations, net | $ | 0.31 | $ | 0.20 | $ | 0.31 | $ | 0.20 | |||||||
Loss from discontinued operations, net | (0.14 | ) | (0.65 | ) | (0.14 | ) | (0.65 | ) | |||||||
Net income (loss) per share | $ | 0.17 | $ | (0.45 | ) | $ | 0.17 | $ | (0.45 | ) |
(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. |