Exhibit 11.1
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
For the three months ended June 30, | ||||||||||||||
Basic | Diluted (a) | |||||||||||||
2004 | 2003 | 2004 | 2003 | |||||||||||
(in thousands, except per share data) | ||||||||||||||
Average number of common shares outstanding | 35,531 | 25,934 | 35,531 | 25,934 | ||||||||||
Average common shares due to assumed conversion of stock options | 0 | 0 | 1,291 | 10 | ||||||||||
Total shares | 35,531 | 25,934 | 36,822 | 25,944 | ||||||||||
Net income (loss) | $ | 15,743 | ($ | 2,384 | ) | $ | 15,743 | ($ | 2,384 | ) | ||||
Net income (loss) per share | $ | 0.44 | ($ | 0.09 | ) | $ | 0.43 | ($ | 0.09 | ) | ||||
For the six months ended June 30, | ||||||||||||||
Basic | Diluted (a) | |||||||||||||
2004 | 2003 | 2004 | 2003 | |||||||||||
(in thousands, except per share data) | ||||||||||||||
Average number of common shares outstanding | 33,474 | 25,934 | 33,474 | 25,934 | ||||||||||
Average common shares due to assumed conversion of stock options | 0 | 0 | 1,363 | 10 | ||||||||||
Total shares | 33,474 | 25,934 | 34,837 | 25,944 | ||||||||||
Net income (loss) | $ | 17,176 | ($ | 3,231 | ) | $ | 17,176 | ($ | 3,231 | ) | ||||
Net income (loss) per share | $ | 0.51 | ($ | 0.12 | ) | $ | 0.49 | ($ | 0.12 | ) | ||||
(a) | When the computed diluted values are anti-dilutive, the basic per share values are presented on the face of the consolidated statements of operations. |