International Speedway Q3 Profit Beats Estimates, Backs FY14 Outlook

(RTTNews) - Motorsports themed entertainment promoter International Speedway Corp. (ISCA, ISCB.PK) on Tuesday reported third-quarter net earnings of $191 thousand or break even per share compared with a loss of $7.9 million or $0.17 per share a year ago. Excluding certain items, the company earned $0.02 per share. On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues rose to $130.1 million from $117.0 million in the prior-year period, driven by contractual increases in television broadcast rights and stabilizing admissions.

In addition, the company backed its full-year financial outlook and now continues to expect adjusted earnings per share in the range of $1.30 to $1.50, on revenues of $635 million to $650 million. Analysts expect earnings per share of $1.41 on revenues of $642.28 million.