Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
For the three months ended June 30, | ||||||||||||||
Basic | Diluted (a) | |||||||||||||
2006 | 2005 | 2006 | 2005 | |||||||||||
(in thousands, except per share data) | ||||||||||||||
Average number of common shares outstanding | 47,968 | 40,534 | 47,968 | 40,534 | ||||||||||
Average common shares due to assumed conversion of stock options | 0 | 0 | 1,639 | 1,975 | ||||||||||
Total shares | 47,968 | 40,534 | 49,607 | 42,509 | ||||||||||
Income (loss) from continuing operations | $ | 38,696 | $ | (6,082 | ) | $ | 38,696 | $ | (6,082 | ) | ||||
Income from discontinued operations, net | 7,311 | 1,904 | 7,311 | 1,904 | ||||||||||
Net income (loss) | $ | 46,007 | $ | (4,178 | ) | $ | 46,007 | $ | (4,178 | ) | ||||
Per share data: | ||||||||||||||
Income (loss) from continuing operations | $ | 0.81 | $ | (0.15 | ) | $ | 0.78 | $ | (0.14 | ) | ||||
Income from discontinued operations, net | 0.15 | 0.05 | 0.15 | 0.04 | ||||||||||
Net income (loss) per share | $ | 0.96 | $ | (0.10 | ) | $ | 0.93 | $ | (0.10 | ) | ||||
For the six months ended June 30, | ||||||||||||||
Basic | Diluted (a) | |||||||||||||
2006 | 2005 | 2006 | 2005 | |||||||||||
(in thousands, except per share data) | ||||||||||||||
Average number of common shares outstanding | 47,181 | 40,518 | 47,181 | 40,518 | ||||||||||
Average common shares due to assumed conversion of stock options | 0 | 0 | 1,617 | 1,948 | ||||||||||
Total shares | 47,181 | 40,518 | 48,798 | 42,466 | ||||||||||
Income (loss) from continuing operations | $ | 54,121 | $ | (10,557 | ) | $ | 54,121 | $ | (10,557 | ) | ||||
Income from discontinued operations, net | 5,360 | 4,148 | 5,360 | 4,148 | ||||||||||
Net income (loss) | $ | 59,481 | $ | (6,409 | ) | $ | 59,481 | $ | (6,409 | ) | ||||
Per share data: | ||||||||||||||
Income (loss) from continuing operations | $ | 1.15 | $ | (0.26 | ) | $ | 1.11 | $ | (0.25 | ) | ||||
Income from discontinued operations, net | 0.11 | 0.10 | 0.11 | 0.10 | ||||||||||
Net income (loss) per share | $ | 1.26 | $ | (0.16 | ) | $ | 1.22 | $ | (0.15 | ) | ||||
(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. |