ISC's Q1 Income Falls 21% As Track Attendance, Spending Decline
ISC today reported that its Q1 income fell 21% "as tough economic conditions continued to hurt attendance and spending at its race tracks." Revenue "edged up" less than 1% to $128.6M, compared to $127.4M in Q1 '12. The company said that revenue "got a boost from a successful Budweiser Speedweeks event, which featured increased corporate sponsorship, hospitality and ancillary rights revenue." Motorsports-related revenue increased 5% to $84.6M, but was "largely offset by declines in admissions and food, beverage and merchandise revenue" (AP, 4/4).
At presstime, shares of ISC were trading at $33.03, up 0.7% from the close yesterday (THE DAILY).