Canterbury Park Holding Corp. said its first-quarter normalized net income was 8 cents per share, a decline of 22.0% from 10 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 $327,460, a decrease of 21.0% from $414,330 in the year-earlier period.

The normalized profit margin dropped to 3.2% from 4.2% in the year-earlier period.

Total revenue rose year over year to $10.4 million from $10.0 million, and total operating expenses climbed 6.1% year over year to $9.9 million from $9.3 million.

Reported net income fell 21.2% year over year to $299,170, or 7 cents per share, from $379,430, or 9 cents per share.