Woodland Hills-based online wagering company, Youbet.com, reported increased earnings and revenues for the 2005 first quarter. The company reported a net income of $1.0 million, or $0.03 per fully diluted share, compared to net income of $15,111, or $0.00 per fully diluted share, in the 2004 first quarter. The company also reported record revenues of $18.5 million this quarter, a 25.1 percent increase from this time last year. “The record first quarter results reflect our industry leadership position in terms of product offerings, player services, technology and wagering compliance, all of which contribute to a highly entertaining and trusted experience for our growing customer base,” Chairman and CEO Charles F. Champion,” said in a written statement. “This industry position, as well as our ongoing commitment to raise the bar in all of these noted areas of our business, is leading to higher levels of handle and improved bottom line results.”
