Thunderbird Resorts Inc. said its third-quarter normalized net income came to $2.0 million, compared with a loss of $826,750 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 19.3% from negative 7.2% in the year-earlier period.

Total revenue declined 9.4% year over year to $10.5 million from $11.5 million, and total operating expenses declined year over year to $11.2 million from $11.4 million.

Reported net income totaled a loss of $3.3 million, compared with a loss of $1.8 million in the prior-year period.