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Canterbury Park Holding swings to loss in Q2

Canterbury Park Holding Corp. said its second-quarter normalized net income came to a loss of 2 cents per share, compared with 14 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $89,350, compared with income of $606,040 in the year-earlier period.

The normalized profit margin declined to negative 0.6% from 4.1% in the year-earlier period.

Total revenue decreased 6.5% on an annual basis to $13.9 million from $14.8 million, and total operating expenses came to $14.0 million, compared with $13.9 million in the prior-year period.

Reported net income grew on an annual basis to $2.3 million, or 53 cents per share, from $592,190, or 14 cents per share.