ISC reports record Q3 performance

NASDAQ-listed International Speedway Corporation, America's biggest track owner, yesterday reported its results for the third quarter ended August 31, 2003. Total revenues increased to $160.6m (compared with $136.4m in the prior-year period), operating income was $59.0m ($49.1m) and net income $36.0m ($29.6m). The second NASCAR Winston Cup event at Darlington (held in the fourth quarter of fiscal 2002) contributed to the increases

ISC reports record Q3 performance

Over the first nine months of 2003, ISC's total revenues increased to $411.1m (from $378.9m in 2002), operating income was $135.2m ($128.9m) and net income $73.8m ($69.3m). The 2003 results include a second-quarter non-cash pre-tax charge of $2.8m for the net book value of assets removed as part of ISC's track reconfiguration project at Homestead-Miami Speedway.

"We are pleased to report another quarter of record results on a comparable basis," commented ISC president Lesa France Kennedy. "Higher broadcast and media rights fees remained a key driver of revenue growth, and we continued to draw large crowds for our events, highlighted by seven sold-out major events during the quarter. Spending by our corporate partners also increased, and we expect growth in this category for the remainder of 2003."

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