Canterbury Has Strong First Quarter, Call Now's is Mixed
Updated: Tuesday, May 15, 2001 5:01 PM
Posted: Tuesday, May 15, 2001 5:01 PM
Canterbury Park (Nasdaq:TRAK) reported a 114% increase in revenue and 300% increase in earnings per diluted share for its first quarter ending March 31.
Revenue for the quarter was $8.03 million compared to the same period a year ago when revenue was $3.76 million. Net income rose to $723,620 from $177,767 a year ago. The increase in revenue and net income are primarily due to Card Club revenues of $4.0 million for the quarter, compared to the same period in 2000 when the Card club was under construction.
"Both our simulcast business and card operation exceeded our plan for the quarter and showed improvement over the fourth quarter of 2000," said Randall Sampson, Canterbury's president. "We are encouraged by the continued success of our card operation and the customer response to our remodeled and expanded facility, which we opened in early May."
Canterbury's Card Room now can run the maximum 50 tables allowed by law, compared to only 42 tables operating prior to the expansion.
"The larger purses generated from the card operation have resulted in the largest horse population in Canterbury Park history and should offer our racing fans an improved racing product," Sampson said about the meet that begins May 18.
Call Now (Nasdaq:CNOW.OB) reported some mixed results for its first quarter ending March 31. The owner of Retama Park in San Antonio, Texas, reported a 7% increase in revenue to $1,162,975, but a 2% increase in net loss to $88,879. The company reported a net loss of 1.1 cents per share compared with a net loss of 1.2 cents per share reported for the first quarter of 2000.
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