EX-11 3 dex11.htm STATEMENT RE COMPUTATION OF PER SHARE EARNINGS Statement re Computation of Per Share Earnings
Exhibit 11
 
Pinnacle Entertainment, Inc.
Computation of Per Share Earnings
 
    
For the three months ended September 30,

 
    
Basic

    
Diluted(a)

 
    
2002

    
2001

    
2002

    
2001

 
    
(in thousands, except per share data—unaudited)
 
Average number of common shares outstanding
  
 
25,911
 
  
 
25,542
 
  
 
25,911
 
  
 
25,542
 
Average common shares due to assumed conversion of stock
                                   
options
  
 
0
 
  
 
0
 
  
 
209
 
  
 
81
 
    


  


  


  


Total shares
  
 
25,911
 
  
 
25,542
 
  
 
26,120
 
  
 
25,623
 
    


  


  


  


Net income
  
$
2,481
 
  
$
1,003
 
  
$
2,481
 
  
$
1,003
 
    


  


  


  


Per share net income
  
$
0.10
 
  
$
0.04
 
  
$
0.09
 
  
$
0.04
 
    


  


  


  


    
For the nine months ended September 30,

 
    
Basic

    
Diluted (a)

 
    
2002

    
2001

    
2002

    
2001

 
    
(in thousands, except per share data—unaudited)
 
Average number of common shares outstanding
  
 
25,721
 
  
 
25,939
 
  
 
25,721
 
  
 
25,939
 
Average common shares due to assumed conversion of stock
                                   
options
  
 
0
 
  
 
0
 
  
 
208
 
  
 
104
 
    


  


  


  


Total shares
  
 
25,721
 
  
 
25,939
 
  
 
25,929
 
  
 
26,043
 
    


  


  


  


Net loss before cumulative change in accounting principle
  
$
(6,232
)
  
$
(6,405
)
  
$
(6,232
)
  
$
(6,405
)
Cumulative change in accounting principle, net of taxes
  
 
(56,704
)
  
 
0
 
  
 
(56,704
)
  
 
0
 
    


  


  


  


Net loss
  
$
(62,936
)
  
$
(6,405
)
  
$
(62,936
)
  
$
(6,405
)
    


  


  


  


Per share loss before cumulative change in accounting principle
  
$
(0.24
)
  
$
(0.25
)
  
$
(0.24
)
  
$
(0.25
)
Per share cumulative change in accounting principle, net of taxes
  
 
(2.21
)
  
 
0.00
 
  
 
(2.21
)
  
 
0.00
 
    


  


  


  


Per share net loss
  
$
(2.45
)
  
$
(0.25
)
  
$
(2.45
)
  
$
(0.25
)
    


  


  


  



(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.