Inc. reported a third quarter loss of $400,000 (-1 cent per share), down from a profit of $1.8 million (5 cents) for the same period a year earlier.

Revenue for the Los Angeles-based horse wagering Web site was up 42 percent to $37 million. The current quarter results included $6.8 million in revenue from the February acquisition of United Tote Co.

The company also said the quarter's results included pre-tax legal expenses, consulting fees and non-cash compensation expenses totaling more than $1 million.

Shares in YouBet closed Tuesday flat at $4.19.

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