SBD/January 28, 2014/Finance
ISC Q4 Revenue Flat With '12 Despite Rain Delay During Chicagoland Sprint Cup Race
Published January 28, 2014
Despite rain delaying NASCAR’s race at ISC’s Chicagoland Speedway last September, the company posted quarterly revenue flat with a year earlier. ISC reported Q4 revenue of $188.7M, compared to $189.4M for the same period in '12. Ticket revenue for the quarter fell to $37.9M from $40.1M during the same period earlier, but motorsports-related revenue, which includes sponsorship sales, rose to $135M from $132M during the same period a year ago. ISC Chair Lesa France Kennedy called the results “solid” and said, "Despite softness in certain markets and inclement weather impacting fourth quarter admissions, we are seeing encouraging signs of stabilization in our core business, driven by slowly improving economic conditions and solid consumer and corporate marketing strategies.” ISC reported total revenue for the year of $612.6M compared to $612.4M for '12. The company sold all of its '13 Sprint Cup and Nationwide race title sponsorships and was within 1% of its target revenue for sponsorship sales for the year. It said corporate support remains strong. It has sold all but three of its 20 Sprint Cup series sponsorships for '14 and secured 72% of its sponsorship revenue goal. It expects total revenues this year to range between $615-630M.
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