Revenues Up For ISC Thanks To Ticket-Sales

Increased attendance for the 57th annual Daytona 500 and other Speedweeks events gave Int'l Speedway Corp.’s Q1 revenues in FY '15 "a strong boost," according to Clayton Park of the Daytona Beach NEWS-JOURNAL. The 1.6% "increase in ticket sales for the three-month fiscal period that ended Feb. 28 was just ISC’s second in the past six years and the first" in a Q1 since the recent recession began.

ISC generated $136.6M in total revenue in Q1, "mostly from Speedweeks events in Daytona Beach," up from to $131.8M in revenues during the same quarter a year ago. The company also produced a Q1 net income of $15M, or "32 cents per share of its common stock," down from $19.9M, or "43 cents per share, for the same period last year, largely because of costs related to its ongoing" $400M Daytona Rising renovation. Excluding those one-time costs, as well as a tax benefit, ISC’s net income in the latest quarter "actually rose year-over-year" by $1.4M.

Meanwhile, the increase in ticket sales for the Daytona 500 "not only included more tickets sold," but also a 2.3% higher average price. ISC CFO Dan Houser said, "We exceeded our expectations." Daytona Beach NEWS-JOURNAL

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