Youbet.com Reports Results for the Three and Six-Month Periods Ended June 30, 2008

WOODLAND HILLS, Calif. --(Business Wire)-- Youbet.com, Inc. (NASDAQ: UBET) today announced results for the three-month and six-month periods ended June 30, 2008. For the three-month period ended June 30, 2008, income from continuing operations before income taxes was $2.3 million, versus a loss of $0.4 million in the prior-year period. Adjusted income from continuing operations before income taxes - which excludes a one-time severance payment - for the three-month period was $3.0 million, compared to an adjusted loss before income taxes of $0.4 million for the prior-year period. The company is finalizing its evaluation of the impact, if any, of the provisions of the Tax Reform Act of 1986 on the utilization of the company's net operating loss and tax credit carryforwards for federal tax purposes that may be limited in the... [read full story]