International Speedway Corporation (NASDAQ: ISCA) announced its financial results for the first quarter of fiscal 2018.
According to the company, total revenues for the first quarter slightly rose from $148.0 million for the same period last year to around $148.9 million, missing analysts’ expectations of $151.05 million. In addition, operating income decreased from $33.8 million for the same period last year to $32.5 million for the first quarter.
The company also announced adjusted earnings per share of $0.60 per share, which surpassed analysts’ estimates of $0.57 per share.
“We are pleased with the financial results for the first quarter,” Lesa France Kennedy, the Chief Executive Officer of International Speedway Corporation, said in the statement on Tuesday.
“Revenue and earnings increased for comparable events. Our investment in Daytona International Speedway continues to deliver expected results. During the quarter, we announced the third consecutive sell-out for the DAYTONA 500,” Lesa continued.
For the full year 2018, the company expected its revenue to be in the range of $680 million to $695 million. Operating margin was expected to be between 15.5% and 16.5%. The company also anticipated its diluted earnings per share to be in the range of $1.90 to $2.10 per share.