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International Speedway in the driver's seat as results race ahead

Last updated: 09:17 26 Jan 2016 EST, First published: 04:17 26 Jan 2016 EST

nascar
Fourth quarter earnings were around US$32.3mln on revenue of US$219mln

International Speedway Corp (NASDAQ:ISCA) said results far exceeded expectations last year.

The owner of 13 motorsport facilities, as well as Americrown Service Corporation and the Motor Racing Network, Inc, saw growth across all of its core businesses, according to chief executive Lesa France Kennedy.

Fourth quarter earnings were around US$32.3mln on revenue of US$219mln while net income was around 69 cents per share.

For the year, the company reported profit of US$67.mln, or US$1.45 per share on revenue US651.9mln.

“In its second year of the new Chase format, NASCAR again provided thrilling competition culminating at Homestead-Miami Speedway in front of a sold-out crowd,” she said.

Across the business, France Kennedy expects to see continued growth in 2016, boosted by the opening of its new stadium DAYTONA Rising, which has had an “overwhelmingly positive” response from fans. 

“Grandstand seats are nearly sold-out for the DAYTONA 500 and we are experiencing unprecedented success with corporate sales and partner activation,” she said.

Additionally, non-motorsports activities including music festivals will complement growth from its core business.

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