Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
Computation of Earnings Per Share
| For the three months ended June 30, | ||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 60,064 | 59,962 | 60,064 | 59,962 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | 787 | — | ||||||||||||
| Total shares | 60,064 | 59,962 | 60,851 | 59,962 | ||||||||||||
| Income (loss) from continuing operations | $ | 4,949 | $ | (48,363 | ) | $ | 4,949 | $ | (48,363 | ) | ||||||
| Income (loss) from discontinued operations, net | (241 | ) | 30,254 | (241 | ) | 30,254 | ||||||||||
| Net income (loss) | $ | 4,708 | $ | (18,109 | ) | $ | 4,708 | $ | (18,109 | ) | ||||||
| Per share data: | ||||||||||||||||
| Income (loss) from continuing operations | $ | 0.08 | $ | (0.81 | ) | $ | 0.08 | $ | (0.81 | ) | ||||||
| Income (loss) from discontinued operations, net | — | 0.51 | — | 0.51 | ||||||||||||
| Net income (loss) per share | $ | 0.08 | $ | (0.30 | ) | $ | 0.08 | $ | (0.30 | ) | ||||||
| For the six months ended June 30, | ||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 60,036 | 59,956 | 60,036 | 59,956 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | 1,295 | — | ||||||||||||
| Total shares | 60,036 | 59,956 | 61,331 | 59,956 | ||||||||||||
| Income (loss) from continuing operations | $ | 6,176 | $ | (64,122 | ) | $ | 6,176 | $ | (64,122 | ) | ||||||
| Income (loss) from discontinued operations, net | (537 | ) | 51,066 | (537 | ) | 51,066 | ||||||||||
| Net income (loss) | $ | 5,639 | $ | (13,056 | ) | $ | 5,639 | $ | (13,056 | ) | ||||||
| Per share data: | ||||||||||||||||
| Income (loss) from continuing operations | $ | 0.10 | $ | (1.07 | ) | $ | 0.10 | $ | (1.07 | ) | ||||||
| Income (loss) from discontinued operations, net | (0.01 | ) | 0.85 | (0.01 | ) | 0.85 | ||||||||||
| Net income (loss) per share | $ | 0.09 | $ | (0.22 | ) | $ | 0.09 | $ | (0.22 | ) | ||||||
| (a) | When the computed diluted values are antidilutive, the basic per share values are presented on the face of the Condensed Consolidated Statements of Operations (Unaudited). |