SBD/Morning Buzz

ISC Sees Operating Income Increase, Revenue Decrease During Q2 '11

A reduction in expenses helped ISC overcome drops in ticket revenue to deliver an operating income for the second quarter and first six months of the '11 fiscal year. The company saw its admissions revenue decrease by $5.7M in Q1 and $8.2M in the first six months to totals of $29.9M and $66.0M, respectively. It cut its expenses by $6.2M in Q2 and $9.1M in the first six months of the fiscal year. ISC CEO Lesa France Kennedy said the decreases in revenues were primarily a result of schedule changes at Kansas Speedway, which did not host the Izod IndyCar and NASCAR Camping World Truck Series races it had hosted in Q2 of '10.

Kennedy added, "The performance of our events-to-date, coupled with the cost reduction commitments we outlined last year, continues to generate results in line with our expectations. While the economy remains our biggest hurdle to admissions-related revenue growth, we feel confident that our commitment to improving the guest experience is positioning the Company for long-term growth."
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug