Malibu Grand Prix Narrows Losses in Quarter
Malibu Grand Prix said it narrowed its loss to $617,000 in the fourth quarter that ended Dec. 31 from a loss of $1.1 million in the year-earlier period.
Revenue for the Woodland Hills company, which operates amusement centers that feature amateur auto racing, rose 24% to $7.2 million.
For the year, the company earned $1.8 million, down 31% from $2.6 million earned in 1987, when the company had a one-time gain of $1.6 million stemming from the restructuring of debt. Revenue for the year rose 10% to $33.4 million.
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