Pinnacle Entertainment (PNKZV) 10-Q 2002 Q3 Quarterly report

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.