EX-11 2 exhibit1106302011a.htm EXHIBIT 11 Exhibit 11 06.30.2011 (A)


Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share (Restated)
(in thousands, except per share data)

 
For the three months ended June 30,
 
Basic
 
Diluted (a)
 
2011
 
 
2010
 
 
2011
 
 
2010
 
 
(Restated)
 
 
 
(Restated)
 
 
Average number of common shares outstanding
61,933

 
60,718

 
61,933

 
60,718

Average common shares due to assumed conversion of stock options
—

 
—

 
—

 
—

Total shares
61,933

 
60,718

 
61,933

 
60,718

 
 

 
 

 
 

 
 

Income (loss) from continuing operations, net
$
(5,587
)
 
$
(40,677
)
 
$
(5,587
)
 
$
(40,677
)
Income (loss) from discontinued operations, net
(23,490
)
 
(8,637
)
 
(23,490
)
 
(8,637
)
Net loss
$
(29,077
)
 
$
(49,314
)
 
$
(29,077
)
 
$
(49,314
)
 
 
 
 
 
 
 
 
Per share data:
 

 
 

 
 

 
 

Income (loss) from continuing operations, net
$
(0.09
)
 
$
(0.67
)
 
$
(0.09
)
 
$
(0.67
)
Income (loss) from discontinued operations, net
(0.38
)
 
(0.14
)
 
(0.38
)
 
(0.14
)
Net loss per share
$
(0.47
)
 
$
(0.81
)
 
$
(0.47
)
 
$
(0.81
)
 
 
 
 
 
 
 
 
 
For the six months ended June 30,
 
Basic
 
Diluted (a)
 
2011
 
2010
 
2011
 
2010
 
(Restated)

 
 
 
(Restated)

 
 
Average number of common shares outstanding
61,879

 
60,414

 
61,879

 
60,414

Average common shares due to assumed conversion of stock options
—

 
—

 
—

 
—

Total shares
61,879

 
60,414

 
61,879

 
60,414

 
 
 
 
 
 
 
 
Income (loss) from continuing operations, net
$
(987
)
 
$
(39,775
)
 
$
(987
)
 
$
(39,775
)
Income (loss) from discontinued operations, net
(25,729
)
 
27,204

 
(25,729
)
 
27,204

Net loss
$
(26,716
)
 
$
(12,571
)
 
$
(26,716
)
 
$
(12,571
)
 
 
 
 
 
 
 
 
Per share data:
 
 
 
 
 
 
 
Income (loss) from continuing operations, net
$
(0.02
)
 
$
(0.66
)
 
$
(0.02
)
 
$
(0.66
)
Income (loss) from discontinued operations, net
(0.42
)
 
0.45

 
(0.42
)
 
0.45

Net loss per share
$
(0.44
)
 
$
(0.21
)
 
$
(0.44
)
 
$
(0.21
)
 
(a)
When the computed diluted values are antidilutive, the basic per share values are presented on the face of the unaudited Condensed Consolidated Statements of Operations.