Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
Computation of Earnings Per Share
| For the three months ended September 30, | ||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 60,070 | 59,972 | 60,070 | 59,972 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | — | ||||||||||||
| Total shares | 60,070 | 59,972 | 60,070 | 59,972 | ||||||||||||
| Loss from continuing operations | $ | (21,680 | ) | $ | (8,283 | ) | $ | (21,680 | ) | $ | (8,283 | ) | ||||
| Loss from discontinued operations, net of income taxes | (241 | ) | (3,561 | ) | (241 | ) | (3,561 | ) | ||||||||
| Net loss | $ | (21,921 | ) | $ | (11,844 | ) | $ | (21,921 | ) | $ | (11,844 | ) | ||||
| Per share data: | ||||||||||||||||
| Loss from continuing operations | $ | (0.36 | ) | $ | (0.14 | ) | $ | (0.36 | ) | $ | (0.14 | ) | ||||
| Loss from discontinued operations, net of income taxes | (0.01 | ) | (0.06 | ) | (0.01 | ) | (0.06 | ) | ||||||||
| Net loss per share | $ | (0.37 | ) | $ | (0.20 | ) | $ | (0.37 | ) | $ | (0.20 | ) | ||||
| For the nine months ended September 30, | ||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 60,048 | 59,961 | 60,048 | 59,961 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | — | ||||||||||||
| Total shares | 60,048 | 59,961 | 60,048 | 59,961 | ||||||||||||
| Loss from continuing operations | $ | (15,504 | ) | $ | (72,414 | ) | $ | (15,504 | ) | $ | (72,414 | ) | ||||
| Income (loss) from discontinued operations, net of income taxes | (778 | ) | 47,514 | (778 | ) | 47,514 | ||||||||||
| Net loss | $ | (16,282 | ) | $ | (24,900 | ) | $ | (16,282 | ) | $ | (24,900 | ) | ||||
| Per share data: | ||||||||||||||||
| Loss from continuing operations | $ | (0.26 | ) | $ | (1.21 | ) | $ | (0.26 | ) | $ | (1.21 | ) | ||||
| Income (loss) from discontinued operations, net of income taxes | (0.01 | ) | 0.79 | (0.01 | ) | 0.79 | ||||||||||
| Net loss per share | $ | (0.27 | ) | $ | (0.42 | ) | $ | (0.27 | ) | $ | (0.42 | ) | ||||
| (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). |