Tracks Owner Increase Profits

International Speedway Corporation, largely owned by the NASCAR-founding France family, has seen a large net income rise as a result of increased race attendance and television viewership for the series

Tracks Owner Increase Profits

The company, which owns the Daytona Motor Speedway among twelve major circuits as well as shares in a number of other tracks, saw a first-quarter net income rose to $41.1 million from $27.8 millon last year.

Company President Lesa France Kennedy noted that a move in the NASCAR series timetable from the second to the first quarter also had a clear effect on results - a revenue increase from $130.6 million to $179.4 million for the quarter backs up her comments.

The company expects full-year earnings to rise six cents to $2.93 a share for the year on revenues of $719.9 million for the full year.

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