PokerTek narrows losses for the fourth quarter of the year
For the year, the Matthews-based company lost us$ 5.67 million, or 47 cents per fully diluted share, up from a 2008 net loss of us$ 7.64 million, or 70 cents per fully diluted share. The company’s revenue fell significantly during the quarter and year, but so did its operating expenses.
“During the second half of 2009, we focused on turning the business around strategically and financially — reducing operating expenses, strengthening our balance sheet and implementing new, more effective sales and marketing strategies that produce recurring revenues,” says Mark Roberson, chief executive and chief financial officer.
The company is a software developer that markets electronic tables for up to 10 players of Texas Hold ’Em. The system is designed to boost casino revenue by increasing the speed of play and reducing labor costs.
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