Poker Firm Narrows Loss

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Shares in WPT Enterprises Inc. gained more than 2 percent in aftermarket trading Monday, following the company’s reporting it had cut its loss and increased revenue in the fourth quarter.


WPT had a fourth quarter net loss of $1.1 million (-5 cents per share), an improvement from a loss of $1.4 million (-7 cents) for the same period a year earlier.


Revenue for the Los Angeles-based media company rose 13 percent to $5.9 million, as a result of increased delivery of the company’s poker TV shows.


For the year, the company reported net income of $7.8 million (38 cents per share), a solid improvement over a net loss of $5 million (26 cents) the previous year. Increased ad sales helped drive revenues up 62 percent to $29.3 million.


WPT shares are now trading at about $5.

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