Professional Poker Tour Boosts Revenues: Fool by Numbers

On Nov. 2, WPT Enterprises (Nasdaq: WPTE  ) released third-quarter earnings for the period ended Oct. 1.

• Revenues grew 176%, driven by the delivery of nine episodes of Season 1 of the PPT television series.
• Net income includes a $4.5 million gain on sale of PokerTek (Nasdaq: PTEK  ) stock.
• Steve Lipscomb, founder and CEO, said that the anticipated relaunch of the Internet gaming site in 2007 will further improve its performance.
• Congress' attempts to stifle online poker did not affect WPTE, since it does not accept wagers from U.S. players.

(Figures in thousands, except per-share data)

Income Statement Highlights

	Q3 2006	Q3 2005	Change
Sales	$5,868	$2,128	175.8%
Net Profit	$2,692	($1,554)	N/A
EPS	$0.12	($0.08)	N/A
Diluted Shares	21,700	19,721	10%

Get back to basics with a look at the income statement.

Margin Checkup

	Q3 2006	Q3 2005	Change*
Gross Margin	70.4%	73.6%	(3.2)
Operating Margin	(7.1%)	(85%)	77.8
Net Margin	45.9%	(73%)	118.9

*Expressed in percentage points.

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Balance Sheet Highlights

Assets	Q3 2006	Q3 2005	Change
Cash + ST Invest.	$39,857	$30,486	30.7%
Accounts Rec.	$2,598	$1,480	75.5%
Inventory	$55	$51	7.8%

Liabilities	Q3 2006	Q3 2005	Change
Accounts Payable	$837	$83	908.4%
Long-Term Debt	$0	$0	N/A

Learn the ways of the balance sheet.

Cash Flow Highlights

No data provided.

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Related Companies:

• Progressive Gaming International (Nasdaq: PGIC  )
• PokerTek
• Bally Technologies (NYSE: BYI  )
• Harrah's (NYSE: HET  )
• Lakes Entertainment (Nasdaq: LACO  )

Related Foolishness:

• Would You Go "All In" With Your Portfolio?
• Did Congress Kill Online Poker?
• The Booming Business of Gaming

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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.