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Canterbury Park Holding Q3 profit falls YOY

Canterbury Park Holding Corp. said its normalized net income for the third quarter came to 13 cents per share, a decrease of 15.5% from 16 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 $575,260, a decline of 13.6% from $665,940 in the year-earlier period.

The normalized profit margin declined to 3.4% from 4.4% in the year-earlier period.

Total revenue rose 11.2% on an annual basis to $16.7 million from $15.0 million, and total operating expenses increased 13.1% from the prior-year period to $15.8 million from $14.0 million.

Reported net income rose 29.4% year over year to $813,060, or 19 cents per share, from $628,220, or 15 cents per share.