Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
Computation of Earnings Per Share
| For the three months ended December 31, | ||||||||||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||||||||||
| 2008 | 2007 | 2006 | 2008 | 2007 | 2006 | |||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||||||
| Average number of common shares outstanding | 59,981 | 59,852 | 48,120 | 59,981 | 59,852 | 48,120 | ||||||||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | — | — | — | ||||||||||||||||||
| Total shares | 59,981 | 59,852 | 48,120 | 59,981 | 59,852 | 48,120 | ||||||||||||||||||
| Income (loss) from continuing operations, net | $ | (297,783 | ) | $ | (18,004 | ) | $ | (4,270 | ) | $ | (297,783 | ) | $ | (18,004 | ) | $ | (4,270 | ) | ||||||
| Income (loss) from discontinued operations, net | 85 | (1,192 | ) | (717 | ) | 85 | (1,192 | ) | (717 | ) | ||||||||||||||
| Net income (loss) | $ | (297,698 | ) | $ | (19,196 | ) | $ | (4,987 | ) | $ | (297,698 | ) | $ | (19,196 | ) | $ | (4,987 | ) | ||||||
| Per share data: | ||||||||||||||||||||||||
| Income (loss) from continuing operations, net | $ | (4.97 | ) | $ | (0.30 | ) | $ | (0.09 | ) | $ | (4.97 | ) | $ | (0.30 | ) | $ | (0.09 | ) | ||||||
| Income (loss) from discontinued operations, net | (0.00 | ) | (0.02 | ) | (0.01 | ) | (0.00 | ) | (0.02 | ) | (0.01 | ) | ||||||||||||
| Net income per share | $ | (4.97 | ) | $ | (0.32 | ) | $ | (0.10 | ) | $ | (4.97 | ) | $ | (0.32 | ) | $ | (0.10 | ) | ||||||
| For the years ended December 31, | ||||||||||||||||||||||||
| Basic | Diluted (a) | |||||||||||||||||||||||
| 2008 | 2007 | 2006 | 2008 | 2007 | 2006 | |||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||||||
| Average number of common shares outstanding | 59,966 | 59,221 | 47,629 | 59,966 | 59,221 | 47,629 | ||||||||||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | — | — | 1,643 | ||||||||||||||||||
| Total shares | 59,966 | 59,221 | 47,629 | 59,966 | 59,211 | 49,272 | ||||||||||||||||||
| Income (loss) from continuing operations, net | $ | (370,196 | ) | $ | 44 | $ | 63,322 | $ | (370,196 | ) | $ | 44 | $ | 63,322 | ||||||||||
| Income (loss) from discontinued operations, net | 47,599 | (1,450 | ) | 13,564 | 47,599 | (1,450 | ) | 13,564 | ||||||||||||||||
| Net income (loss) | $ | (322,597 | ) | $ | (1,406 | ) | $ | 76,886 | $ | (322,597 | ) | $ | (1,406 | ) | $ | 76,886 | ||||||||
| Per share data: | ||||||||||||||||||||||||
| Income (loss) from continuing operations, net | $ | (6.17 | ) | $ | 0.00 | $ | 1.33 | $ | (6.17 | ) | $ | 0.00 | $ | 1.28 | ||||||||||
| Income (loss) from discontinued operations, net | 0.79 | (0.02 | ) | 0.28 | 0.79 | (0.02 | ) | 0.28 | ||||||||||||||||
| Net income per share | $ | (5.38 | ) | $ | (0.02 | ) | $ | 1.61 | $ | (5.38 | ) | $ | (0.02 | ) | $ | 1.56 | ||||||||
| (a) | When the computed diluted values are antidilutive, the basic per share values are presented on the face of the Consolidated Income Statements. |