Exhibit 11
- ----------
Pinnacle Entertainment, Inc.
Computation of Per Share Earnings
For the three months ended December 31,
-----------------------------------------------------------------------
Basic Diluted(a)
-----------------------------------------------------------------------
2001 2000 1999 2001 2000 1999
-------- ------- -------- ------- ------- -------
(in thousands, except per share data unaudited)
Average number of common shares outstanding 25,444 26,421 26,145 25,444 26,421 26,145
Average common shares due to assumed conversion of
stock options 0 0 0 79 1,085 854
-------- ------- ------- -------- ------- -------
Total shares 25,444 26,421 26,145 25,523 27,506 26,999
======== ======= ======= ======== ======= =======
Net income before extraordinary item ($22,244) ($6,141) $ 3,971 ($22,244) ($6,141) $ 3,971
Extraordinary item, net of income taxes 0 0 0 0 0 0
-------- ------- ------- -------- ------- -------
Net (loss) Income ($22,244) ($6,141) $ 3,971 ($22,244) ($6,141) $ 3,971
======== ======= ======= ======== ======= =======
Net income before extraordinary item per share ($0.87) ($0.23) $ 0.15 ($0.87) ($0.22) $ 0.15
Extraordinary item per share, net of income taxes 0.00 0.00 0.00 0.00 0.00 0.00
-------- ------- ------- -------- ------- -------
Net (loss) Income per share ($0.87) ($0.23) $ 0.15 ($0.87) ($0.22) $ 0.15
======== ======= ======== ======== ======= =======
For the year ended December 31,
-----------------------------------------------------------------------
Basic Diluted(a)
-----------------------------------------------------------------------
2001 2000 1999 2001 2000 1999
-------- ------- -------- ------- ------- -------
(in thousands, except per share data unaudited)
Average number of common shares outstanding 25,814 26,335 25,966 25,814 26,335 25,966
Average common shares due to assumed conversion of
stock options 0 0 0 104 1,121 363
-------- ------- ------- -------- ------- -------
Total shares 25,814 26,335 25,966 25,918 27,456 26,329
======== ======= ======= ======== ======= =======
Net (loss) Income before extraordinary item ($28,649) $79,492 $44,047 ($28,649) $79,492 $44,047
Extraordinary item, net of income taxes 0 2,653 0 0 2,653 0
-------- ------- ------- -------- ------- -------
Net (loss) income after extraordinary item ($28,649) $76,839 $44,047 ($28,649) $76,839 $44,047
======== ======= ======= ======== ======= =======
Net (loss) Income before extraordinary item per share ($1.11) $ 3.02 $ 1.70 ($1.11) $ 2.90 $ 1.67
Extraordinary item per share, net of income taxes 0.00 (0.10) 0.00 0.00 (0.10) 0.00
-------- ------- ------- -------- ------- -------
Net (loss) Income after extraordinary item per share ($1.11) $ 2.92 $ 1.70 ($1.11) $ 2.80 $ 1.67
======== ======= ======= ======== ======= =======
_______
(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.