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Dover Motorsports Q1 loss widens 27.9% YOY

Dover Motorsports Inc. said its first-quarter normalized net income came to a loss of 8 cents per share, compared with a loss of 6 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 a loss of $3.0 million, compared with a loss of $2.3 million in the year-earlier period.

Total revenue decreased 94.5% on an annual basis to $10,000 from $183,000, and total operating expenses rose 23.5% on an annual basis to $4.6 million from $3.7 million.

Reported net income totaled a loss of $2.5 million, or a loss of 7 cents per share, compared to a loss of $2.2 million, or a loss of 6 cents per share, in the prior-year period.