This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Canterbury Park Holding Corporation Reports 2011 Financial Results

Canterbury Park Holding Corporation (NASDAQ:CPHC) today announced financial results for the fourth quarter and year ended December 31, 2011.

Results for the Quarter Ended December 31, 2011

The Company’s net revenues in the fourth quarter were $9.7 million, up 11.9% from revenues of $8.7 million during the same period in 2010. Fourth quarter net income was $305,036, or $.07 per share, in 2011 as compared to 2010 fourth quarter net income of $161,279, or $.04 per share.

Results for the Year Ended December 31, 2011

The Company’s net revenues in 2011 were $40.6 million compared to 2010 net revenues of $39.9 million. The Company achieved this 1.7% revenue increase because our Card Casino revenues increased 5.5% over 2010, which more than offset the severe impact of the partial shutdown of Minnesota government from July 1 to 20 that forced the Company to suspend its operations for this period.

Operating expenses in 2011 were $39.5 million compared to $41.2 million in 2010. This $1.7 million decline in operating expenses is partially attributable to reduced live meet expenses in 2011 because the Company was forced to suspend its operations during the July shutdown of Minnesota government, as well as continued management of operating expenses throughout the year. In addition, 2010 operating expenses included a one-time charge related to remodeling our Card Casino of $909,540.

The Company’s 2011 net income was $397,667, or $.10 per share, compared to a net loss of $992,206 in 2010, or a $.25 net loss per share.

Additional Information

Further financial results for the fourth quarter and year ended December 31, 2011 are presented in the accompanying table, and additional information will be provided in the Company’s Form 10-K Report that will be filed on March 30, 2012 with the Securities and Exchange Commission.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs