Malibu Grand Prix Interest Expense Produces Loss

Malibu Grand Prix said it lost $46,000 in the first quarter ended March 29 because of interest expenses on loans. Revenue fell 3% to $6.3 million in the period.

The Woodland Hills company, which owns recreation centers where people ride small Grand Prix-style cars, reported a $182,000 profit from operations and a gain of $98,000 from the sale of property. But all of it was offset by $326,000 in interest expenses.

A year earlier, Malibu Grand Prix reported a $1.5-million profit, all of it attributable to a one-time gain of $1.6 million from the restructuring of debt.