Youbet.com was able to reduce its loss

Mar 10, 2009 3:58 PM
by Ray Poirier | With the addition of more content to its wagering menu, Youbet.com (UBET) was able to reduce its loss during the fourth fiscal quarter.

Net loss, the company said, was $9.9 million or $0.24 per share on revenue of $28 million. A year earlier, the company had a loss of $29.7 million or $0.71 per share.

 However, excluding one-time charges taken during the quarter, the company said the net loss was just $0.02 per share.

The company said it took an impairment charge of $11.2 million, the full amount that it had paid when it acquired United Tote Co.