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) | |||||||||||||||
| 2010 | 2009 | 2010 | 2009 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 60,718 | 60,064 | 60,718 | 60,064 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | 787 | ||||||||||||
| Total shares | 60,718 | 60,064 | 60,718 | 60,851 | ||||||||||||
| Income (loss) from continuing operations | $ | (41,564 | ) | $ | 8,976 | $ | (41,564 | ) | $ | 8,976 | ||||||
| Income (loss) from discontinued operations, net of income taxes | (7,750 | ) | (4,268 | ) | (7,750 | ) | (4,268 | ) | ||||||||
| Net income (loss) | $ | (49,314 | ) | $ | 4,708 | $ | (49,314 | ) | $ | 4,708 | ||||||
| Per share data: | ||||||||||||||||
| Income (loss) from continuing operations | $ | (0.68 | ) | $ | 0.15 | $ | (0.68 | ) | $ | 0.15 | ||||||
| Income (loss) from discontinued operations, net of income taxes | (0.13 | ) | (0.07 | ) | (0.13 | ) | (0.07 | ) | ||||||||
| Net income (loss) per share | $ | (0.81 | ) | $ | 0.08 | $ | (0.81 | ) | $ | 0.08 | ||||||
| For the six months ended June 30, | ||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||
| 2010 | 2009 | 2010 | 2009 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 60,414 | 60,036 | 60,414 | 60,036 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | 1,295 | ||||||||||||
| Total shares | 60,414 | 60,036 | 60,414 | 61,331 | ||||||||||||
| Income (loss) from continuing operations | $ | (39,775 | ) | $ | 12,442 | $ | (39,775 | ) | $ | 12,442 | ||||||
| Income (loss) from discontinued operations, net of income taxes | 27,204 | (6,803 | ) | 27,204 | (6,803 | ) | ||||||||||
| Net income (loss) | $ | (12,571 | ) | $ | 5,639 | $ | (12,571 | ) | $ | 5,639 | ||||||
| Per share data: | ||||||||||||||||
| Income (loss) from continuing operations | $ | (0.66 | ) | $ | 0.20 | $ | (0.66 | ) | $ | 0.20 | ||||||
| Income (loss) from discontinued operations, net of income taxes | 0.45 | (0.11 | ) | 0.45 | (0.11 | ) | ||||||||||
| Net income (loss) per share | $ | (0.21 | ) | $ | 0.09 | $ | (0.21 | ) | $ | 0.09 | ||||||
| (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). |