Exhibit 11
PinnacleEntertainment, Inc.
Computation of Per Share Earnings
For the three months ended June 30, | ||||||||||||||||
Basic | Diluted (a) | |||||||||||||||
2003 | 2002 | 2003 | 2002 | |||||||||||||
(in thousands, except per share data-unaudited) | ||||||||||||||||
Average number of common shares outstanding | 25,934 | 25,804 | 25,934 | 25,804 | ||||||||||||
Average common shares due to assumed conversion of stock options | 0 | 0 | 10 | 472 | ||||||||||||
Total shares | 25,934 | 25,804 | 25,944 | 26,276 | ||||||||||||
Net loss | ($ | 2,384 | ) | ($ | 6,415 | ) | ($ | 2,384 | ) | ($ | 6,415 | ) | ||||
Per share net loss | ($ | 0.09 | ) | ($ | 0.25 | ) | ($ | 0.09 | ) | ($ | 0.25 | ) | ||||
For the six months ended June 30, | ||||||||||||||||
Basic | Diluted (a) | |||||||||||||||
2003 | 2002 | 2003 | 2002 | |||||||||||||
(in thousands, except per share data-unaudited) | ||||||||||||||||
Average number of common shares outstanding | 25,934 | 25,625 | 25,934 | 25,625 | ||||||||||||
Average common shares due to assumed conversion of stock options | 0 | 0 | 10 | 168 | ||||||||||||
Total shares | 25,934 | 25,625 | 25,944 | 25,793 | ||||||||||||
Net loss before cumulative effect of a change in accounting principle | ($ | 3,231 | ) | ($ | 8,713 | ) | ($ | 3,231 | ) | ($ | 8,713 | ) | ||||
Cumulative effect of a change in accounting principle, net of taxes | 0 | (56,704 | ) | 0 | (56,704 | ) | ||||||||||
Net loss | ($ | 3,231 | ) | ($ | 65,417 | ) | ($ | 3,231 | ) | ($ | 65,417 | ) | ||||
Per share loss before cumulative effect of a change in accounting principle | ($ | 0.12 | ) | ($ | 0.34 | ) | ($ | 0.12 | ) | ($ | 0.34 | ) | ||||
Per share cumulative effect of a change in accounting principle, net of taxes | 0.00 | (2.21 | ) | 0.00 | (2.21 | ) | ||||||||||
Per share net loss | ($ | 0.12 | ) | ($ | 2.55 | ) | ($ | 0.12 | ) | ($ | 2.55 | ) | ||||
(a) | When the computed diluted values are anti-dilutive, the basic per share values are presented on the face of the condensed consolidated statements of operations. |