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
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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