International Speedway Q1 GAAP Profit Up, Adj. EPS Misses View - Quick Facts

(RTTNews) - Motorsports themed entertainment promoter International Speedway Corp. (ISCA) reported a rise in its first-quarter net income to $19.9 million, or $0.43 per share, from $13.51 million, or $0.29 per share, in the prior-year period.

Excluding certain marketing and consulting costs incurred associated with DAYTONA Rising, accelerated depreciation, losses associated with the retirements of certain other long-lived assets, DAYTONA Rising project capitalized interest, MA fair value adjustment and income tax benefit, and net gain on sale of certain assets, non-GAAP net income for the recent quarter totaled $15.5 million, or $0.33 per share. On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.35 for the quarter. Analysts' estimates typically exclude one-time items.

During the period, operating income was nearly $22.3 million, compared with about $25.1 million in the first quarter of fiscal 2013.

Quarterly total revenue of around $131.8 million, was higher than the prior-year figure of $128.55 million.