UPDATE: International Speedway Posts Upbeat FQ2 Earnings

International Speedway

reported a drop in its fiscal-second quarter profit. International Speedway's quarterly profit fell to $21.5 million, or $0.46 per share, versus a year-ago profit of $22.4 million, or $0.48 per share. Excluding certain items, it earned $0.50 per share. Its total revenue climbed 6.7% to $190.3 million. However, analysts were expecting earnings of $0.49 per share on revenue of $186.3 million. International Speedway's revenue from admissions slipped to $35.7 million, while revenue on food, beverages and merchandise surged 79% to $22.7 million. Motorsports-related revenue climbed 1.9% to $128.4 million. ISC Chief Executive Officer Lesa France Kennedy said, "Auto Club Speedway achieved its first sellout since 2005, and moving Kansas Speedway's Cup event to Mothers' Day eve resulted in an admissions lift of over 15%. These results are encouraging signs that NASCAR's Industry Action Plan, and our consumer marketing and capacity management initiatives are working." International Speedway shares gained 4.29% to $35.00 in pre-market trading.