International Speedway Corp. (NASDAQ:ISCA) reported net income for the third quarter of $ 12.03 million or $ 0.27 per share, compared to income $ 0.27 million or $ 0.01 per share for the year-ago quarter.
The Daytona Beach, Florida based company recorded third quarter Non-GAAP net income of $ 11.62 million or $ 0.26 per share.
The total revenue for third quarter rose 21% to $ 159.28 million from $ 131.94 million in the same quarter last year.
Analysts polled by Thomson Reuters expected International Speedway to report income of $ 0.22 per share on revenue of $ 152.93 million for the third quarter.
Lesa France Kennedy, ISC Chief Executive Officer, commented, Our overall financial results for the third quarter are in line with expectations and the 2018 outlook. During the quarter, Watkins Glen announced the fourth consecutive sell-out of reserved grandstand seats for the Monster Energy NASCAR Cup Series event. Also, the realigned date at Chicago land Speedway is paving the path for a tradition of NASCAR racing in July, honoring service men and women with its thematic ‘Stars and Stripes’ weekend.
At the same time, International Speedway anticipates full year 2018 earnings of $1.90 to $1.95 per share, where as total revenue for the full year expected to be $675.0 million to $680.0 million.