PokerTek's second-quarter revenue decreased 60 per cent to US$1.5m from the same quarter in 2008. The company's revenue for the first half of 2009 was $3.7m, a 48 per cent decline compared with 2008's first half. For the recent quarter, ended June 30, the company posted a net loss of $1.64m.
The software development company, which specialises in electronic Texas Hold ‘Em table games and recently introduced the Heads Up Challenge amusement device into the coin-op industry, has attributed the declines to lower sales of its PokerPro systems sold to the casino market through Aristocrat Leisure.
Mark Roberson, chief executive and chief financial officer, commented: "Our bottom line results and operating cashflow improved as we continued to streamline the business and reduce overheads. Our revenues reflect lower international PokerPro hardware sales and lower sales to the coin-op distribution channel."
Roberson also noted that weak economic conditions hurt demand for Heads Up Challenge through traditional distribution. He added that PokerTek is transitioning to a new distribution model that sells direct to operators on a recurring revenue basis - this is expected to result in lower upfront product sales and a longer-term recurring revenue stream.
