Exhibit 11
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Hollywood Park, Inc.
Computation of Earnings Per Share
For the three months ended September 30,
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Basic Diluted (a)
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1999 1998 1999 1998
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(in thousands, except per share data)
Average number of common shares outstanding 26,045 26,101 26,045 26,101
Average common shares due to assumed conversion of
stock options 0 0 815 0
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Total shares 26,045 26,101 26,860 26,101
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Net income allocated to shareholders $26,232 $ 1,972 $26,232 $ 1,972
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Net income per share $ 1.01 $ 0.08 $ 0.98 $ 0.08
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For the three months ended September 30,
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Basic Diluted (a)
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1999 1998 1999 1998
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(in thousands, except per share data)
Average number of common shares outstanding 25,906 26,115 25,906 26,115
Average common shares due to assumed conversion of
stock options 0 0 186 162
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Total shares 25,906 26,115 26,092 26,277
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Net income allocated to shareholders $40,076 $ 8,867 $40,076 $ 8,867
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Net income per share $ 1.55 $ 0.34 $ 1.54 $ 0.34
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(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.