Youbet losses decline again in 2003

Youbet.com, the online account-wagering company, lost $4 million in 2003, or 14 cents a share, while nearly doubling its revenue, according to records Youbet released Thursday.

The loss was a $5 million improvement over 2002, when Youbet lost $9 million, or 41 cents per share. Youbet has yet to post a profit since being launched in 1995, but its operations have improved steadily in the past two years, with losses pared from $14.1 million in 2001.

Revenue in 2003 was $53.1 million, up 105 percent over 2002. Handle in 2003 through Youbet was up 69 percent, to $276 million.

Youbet's stock was down 4 cents, or 1.1 percent, to $3.51 on Thursday.