Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Per Share Earnings
For the three months ended September 30, | ||||||||||||||||
Basic | Diluted(a) | |||||||||||||||
2002 | 2001 | 2002 | 2001 | |||||||||||||
(in thousands, except per share data—unaudited) | ||||||||||||||||
Average number of common shares outstanding | 25,911 | 25,542 | 25,911 | 25,542 | ||||||||||||
Average common shares due to assumed conversion of stock | ||||||||||||||||
options | 0 | 0 | 209 | 81 | ||||||||||||
Total shares | 25,911 | 25,542 | 26,120 | 25,623 | ||||||||||||
Net income | $ | 2,481 | $ | 1,003 | $ | 2,481 | $ | 1,003 | ||||||||
Per share net income | $ | 0.10 | $ | 0.04 | $ | 0.09 | $ | 0.04 | ||||||||
For the nine months ended September 30, | ||||||||||||||||
Basic | Diluted (a) | |||||||||||||||
2002 | 2001 | 2002 | 2001 | |||||||||||||
(in thousands, except per share data—unaudited) | ||||||||||||||||
Average number of common shares outstanding | 25,721 | 25,939 | 25,721 | 25,939 | ||||||||||||
Average common shares due to assumed conversion of stock | ||||||||||||||||
options | 0 | 0 | 208 | 104 | ||||||||||||
Total shares | 25,721 | 25,939 | 25,929 | 26,043 | ||||||||||||
Net loss before cumulative change in accounting principle | $ | (6,232 | ) | $ | (6,405 | ) | $ | (6,232 | ) | $ | (6,405 | ) | ||||
Cumulative change in accounting principle, net of taxes | (56,704 | ) | 0 | (56,704 | ) | 0 | ||||||||||
Net loss | $ | (62,936 | ) | $ | (6,405 | ) | $ | (62,936 | ) | $ | (6,405 | ) | ||||
Per share loss before cumulative change in accounting principle | $ | (0.24 | ) | $ | (0.25 | ) | $ | (0.24 | ) | $ | (0.25 | ) | ||||
Per share cumulative change in accounting principle, net of taxes | (2.21 | ) | 0.00 | (2.21 | ) | 0.00 | ||||||||||
Per share net loss | $ | (2.45 | ) | $ | (0.25 | ) | $ | (2.45 | ) | $ | (0.25 | ) | ||||
(a) | When the computed diluted values are anti-dilutive, the basic per share values are presented on the face of the consolidated statements of operations. |