Exhibit 11
Pinnacle Entertainment, Inc.
Statement re: Computation of Per Share Earnings
| For the three months ended December 31, | ||||||||||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||||||||||
| 2007 | 2006 | 2005 | 2007 | 2006 | 2005 | |||||||||||||||||||
| (in thousands, except per share data-unaudited) | ||||||||||||||||||||||||
Average number of common shares outstanding | 59,852 | 48,120 | 40,957 | 59,852 | 48,120 | 40,957 | ||||||||||||||||||
Average common shares due to assumed | 0 | 0 | 0 | 1,136 | 1,799 | 2,529 | ||||||||||||||||||
Total Shares | 59,852 | 48,120 | 40,957 | 60,988 | 49,919 | 43,486 | ||||||||||||||||||
Income (loss) from continuing operations | $ | (18,502 | ) | $ | (4,821 | ) | $ | 6,739 | $ | (18,502 | ) | $ | (4,821 | ) | $ | 6,739 | ||||||||
Income (loss) from discontinuing operations, net | (694 | ) | (166 | ) | 753 | (694 | ) | (166 | ) | 753 | ||||||||||||||
Net income (loss) | $ | (19,196 | ) | $ | (4,987 | ) | $ | 7,492 | $ | (19,196 | ) | $ | (4,987 | ) | $ | 7,492 | ||||||||
Per share data: | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.31 | ) | $ | (0.10 | ) | $ | 0.16 | $ | (0.30 | ) | $ | (0.10 | ) | $ | 0.15 | ||||||||
Income (loss) from discontinuing operations, net | (0.01 | ) | 0.00 | 0.02 | (0.01 | ) | 0.00 | 0.02 | ||||||||||||||||
Net income (loss) per share | $ | (0.32 | ) | $ | (0.10 | ) | $ | 0.18 | $ | (0.31 | ) | $ | (0.10 | ) | $ | 0.17 | ||||||||
| For the years ended December 31, | ||||||||||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||||||||||
| 2007 | 2006 | 2005 | 2007 | 2006 | 2005 | |||||||||||||||||||
| (in thousands, except per share data-unaudited) | ||||||||||||||||||||||||
Average number of common shares outstanding | 59,221 | 47,629 | 40,703 | 59,221 | 47,629 | 40,703 | ||||||||||||||||||
Average common shares due to assumed | 0 | 0 | 0 | 1,332 | 1,643 | 2,248 | ||||||||||||||||||
Total Shares | 59,221 | 47,629 | 40,703 | 60,553 | 49,272 | 42,951 | ||||||||||||||||||
Income (loss) from continuing operations | $ | (1,385 | ) | $ | 61,887 | $ | (60 | ) | $ | (1,385 | ) | $ | 61,887 | $ | (60 | ) | ||||||||
Income (loss) from discontinuing operations, net | (21 | ) | 14,999 | 6,185 | (21 | ) | 14,999 | 6,185 | ||||||||||||||||
Net income (loss) | $ | (1,406 | ) | $ | 76,886 | $ | 6,125 | $ | (1,406 | ) | $ | 76,886 | $ | 6,125 | ||||||||||
Per share data: | ||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.02 | ) | $ | 1.30 | $ | 0.00 | $ | (0.02 | ) | $ | 1.26 | $ | 0.00 | ||||||||||
Income (loss) from discontinuing operations, net | (0.00 | ) | 0.31 | 0.15 | (0.00 | ) | 0.30 | 0.14 | ||||||||||||||||
Net income (loss) per share | (0.02 | ) | $ | 1.61 | $ | 0.15 | (0.02 | ) | $ | 1.56 | $ | 0.14 | ||||||||||||
| (a) | When the computed diluted values are anti-dilutive, the basic per share values are presented on the face of the consolidated income statements. |