Despite drop ISC still making huge profits as fans suffer International Speedway Corp. reported that revenues for 2010 dropped 6.9 percent, including a 17 percent drop in admissions revenue, the track operating company reported a net income of $54.5 million for 2010, huge numbers while many of its customers are unemployed.
That compares with a net income of $6.8 million in 2009, but the 2009 figure included a recorded loss of $77.6 attributed to the decrease in value of its investment in Motorsports Authentics.
When just taking into account core operations, net income dropped 19 percent from $90.6 million in 2009 to $73.2 million in 2010.
Total revenues were down from $693 million in 2009 to $645 million in 2010, including admissions revenue down from $195.5 million in 2009 to $160.5 million in 2010. Food, beverage and merchandise revenue dropped only 6.9 percent from $56.3 million to $52.5 million for ISC, which has 19 Sprint Cup points races at Daytona, Talladega, Phoenix, Martinsville, Richmond, Kansas, Michigan, Darlington, Chicagoland, Auto Club (California), Watkins Glen and Homestead.
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