Malibu Grand Prix Posts $1.1-Million Net Loss

Malibu Grand Prix, the Woodland Hills amusement park company, reported higher sales and a slightly smaller loss for its second quarter ended June 30.

Sales for the quarter were $9.1 million, up 14% from the same period last year. The company reported a net loss of $1.1 million, or 9 cents per share, compared to a net loss during the same period last year of $1.2 million, or 10 cents.

For the six months ended June 30, the company reported sales of $15.2 million, up 21% from last year’s corresponding period. The company had a net loss for the period of $3.6 million, or 28 cents per share, contrasted with a net loss of $1.9 million, or 20 cents, for the first six months of 1984.

Malibu has been struggling from a heavy debt and a shortage of working capital, and suffered in the first quarter from bad weather in much of the country, the company said.