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) | |||||||||||||||
| 2010 | 2009 | 2010 | 2009 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 61,128 | 60,070 | 61,128 | 60,070 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | — | ||||||||||||
| Total shares | 61,128 | 60,070 | 61,128 | 60,070 | ||||||||||||
| Income (loss) from continuing operations | $ | 1,564 | $ | (19,509 | ) | $ | 1,564 | $ | (19,509 | ) | ||||||
| Loss from discontinued operations, net of income taxes | (2,330 | ) | (2,412 | ) | (2,330 | ) | (2,412 | ) | ||||||||
| Net loss | $ | (766 | ) | $ | (21,921 | ) | $ | (766 | ) | $ | (21,921 | ) | ||||
| Per share data: | ||||||||||||||||
| Income (loss) from continuing operations | $ | 0.03 | $ | (0.33 | ) | $ | 0.03 | $ | (0.33 | ) | ||||||
| Loss from discontinued operations, net of income taxes | (0.04 | ) | (0.04 | ) | (0.04 | ) | (0.04 | ) | ||||||||
| Net loss per share | $ | (0.01 | ) | $ | (0.37 | ) | $ | (0.01 | ) | $ | (0.37 | ) | ||||
| For the nine months ended September 30, | ||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||
| 2010 | 2009 | 2010 | 2009 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Average number of common shares outstanding | 60,654 | 60,048 | 60,654 | 60,048 | ||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | — | ||||||||||||
| Total shares | 60,654 | 60,048 | 60,654 | 0,048 | ||||||||||||
| Loss from continuing operations | $ | (38,211 | ) | $ | (7,067 | ) | $ | (38,211 | ) | $ | (7,067 | ) | ||||
| Income (loss) from discontinued operations, net of income taxes | 24,874 | (9,215 | ) | 24,874 | (9,215 | ) | ||||||||||
| Net loss | $ | (13,337 | ) | $ | (16,282 | ) | $ | (13,337 | ) | $ | (16,282 | ) | ||||
| Per share data: | ||||||||||||||||
| Loss from continuing operations | $ | (0.63 | ) | $ | (0.12 | ) | $ | (0.63 | ) | $ | (0.12 | ) | ||||
| Income (loss) from discontinued operations, net of income taxes | 0.41 | (0.15 | ) | 0.41 | (0.15 | ) | ||||||||||
| Net loss per share | $ | (0.22 | ) | $ | (0.27 | ) | $ | (0.22 | ) | $ | (0.27 | ) | ||||
| (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). |