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Canterbury Park Holding Q1 profit falls YOY

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Canterbury Park Holding Q1 profit falls YOY

Canterbury Park Holding Corp. said its first-quarter normalized net income amounted to 10 cents per share, a decrease from 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $414,330, a decrease from $433,420 in the year-earlier period.

The normalized profit margin dropped to 4.2% from 4.6% in the year-earlier period.

Total revenue increased 5.6% year over year to $10.0 million from $9.4 million, and total operating expenses rose 6.4% on an annual basis to $9.3 million from $8.7 million.

Reported net income fell 9.6% from the prior-year period to $379,430, or 9 cents per share, from $419,890, or 10 cents per share.