Although PokerTek, a North Carolina-based gaming product developer, said revenues have increased 299 percent for the third quarter ending Sept. 30, 2008, the company still posted an operating loss of $1.6 million. In 2007, the company had a third quarter operating loss of $4.2 million.
The company noted that its operating expenses declined $1.1 million from the third quarter of 2007, and earnings per share improved 57 percent for the quarter and 42 percent for the year-to-date.
“We're pleased with our third quarter results,” said Chris Halligan, PokerTek's chief executive. “This is a challenging business environment to say the least; however, we continued to grow our revenues, manage our costs and achieve several major milestones during the quarter.”