SBJ/March 7-13, 2011/Facilities

Kennedy’s compensation up 21.8% in 2010

The total compensation of International Speedway Corp. CEO Lesa France Kennedy increased 21.8 percent to $937,356 in 2010, even as the company reported a 19.3 percent decline in net income, excluding discontinued operations, during the same period.

Lesa
Kennedy
Kennedy earned the second-highest compensation at ISC in 2010, according to an SEC filing last week. She received a $604,115 salary, $104,291 bonus, $123,951 in stock award, $86,659 in employee benefits and $18,340 in other compensation.

Roger VanDerSnick, ISC’s former executive vice president and chief operating officer, earned the highest compensation at ISC in 2010. His $1,019,906 compensation nearly doubled the $539,760 he earned the previous year. He left the company last August during a restructuring.

ISC Chairman Jim France earned a total compensation of $489,383. ISC President John Saunders earned a total compensation of $811,321.

ISC reported net income for the year ending Nov. 30, 2010, excluding discontinued operations, was approximately $73.2 million, or $1.52 per share. That was down from $90.7 million, or $1.86 per share, for fiscal year 2009. Its share price dropped from $27.55 to $23.69 for the year. It was trading at $27.93 midday Thursday last week.

Greg Estes, who manages the Intrepid All Cap Fund that returned 19 percent over the past year, recently told
TheStreet.com that he expects NASCAR to make a comeback and is investing in ISC and Speedway Motorsports Inc.

“The sport itself has been through a cyclical bottoming out, and we look for an improvement in admission at various races,” Estes said.

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