International Speedway Q3 Loss Widens; Backs Annual Outlook - Quick Facts

(RTTNews) - Motorsports themed entertainment promoter International Speedway Corp. or ISC (ISCA) posted a wider third-quarter net loss of about $7.9 million, or $0.17 per share, compared with a loss of $1.04 million, or $0.02 per share, in the prior-year period.

Excluding certain carrying costs related to the Staten Island property, legal judgment, marketing and consulting costs incurred with DAYTONA Rising, accelerated depreciation and losses associated with the retirements of certain other long-lived assets, non-GAAP net income totaled $2.3 million, or $0.05 per share in the recent period. On average, 4 analysts polled by Thomson Reuters expected loss per share of $0.01 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenue for the quarter reached nearly $117.05 million, versus last year's $115.93 million.

For fiscal 2013, ISC confirmed its total revenue guidance range of $610.0 million to $625.0 million, and non-GAAP earnings range of $1.35 - $1.55 per share after-tax. Owing to continued late ticket buying trends with the potential for inclement weather and its associated impact on ticket sales, as experienced in its fiscal 2013 fourth quarter at Chicagoland, the company remains more comfortable at the low- to mid-range of the guidance.