World Poker Tour Shares Fall on Poor Q2 Results

After reporting a loss of two cents per share in the second quarter, compared to a profit of six cents per share in the same period a year ago, WPT Enterprises shares (Nasdaq: WPTE) fell 7% Monday, with another 2.4% drop on Tuesday.
The company did see a 40% jump in revenue to $6.6 million, but blames the loss on higher production costs and non-cash compensation relating to consultant stock options.
More than half of WPTE’s revenue came from domestic television licensing, although it actually fell $100,000 since last year because fewer episodes were shown. International television licensing revenue, on the other hand, soared six fold, to $600,000, while product licensing revenue increased eleven times, to $1.1 million.
WPTE forecasts third quarter revenues between $2.5 million and $3 million.

Originally published August 23, 2005