WPT Q4 Sees Profit, Sales Dip

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WPT Entertainment Inc. after Thursday’s market close reported its fourth quarter net loss widened 63 percent from a year ago due to a decrease in the number of episodes delivered of its World Poker Tour television series.

The Los Angeles-based reported a net loss of $1.8 million, or -9 cents per share, with revenues down 14 percent $5.1 million. The company said that the decrease was primarily due to the delivery of five episodes of Season VI of the WPT in the fourth quarter of 2007 versus the delivery of nine episodes in the fourth quarter of 2006.

Also a factor were economic terms of its agreement with TV station GSN, the company said. Lower revenues were partially offset by $1.6 million in fees from international television sponsorship that did not exist a year earlier.

For the year ended Dec. 30, revenues were down 28 percent to $21.7 million.

Shares in WPT earlier closed down 4 percent to $1.70 in trading Thursday on the Nasdaq.

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