Last $33.49 USD
Change Today +0.22 / 0.66%
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

intl speedway corp-cl a (ISCA) Key Developments

International Speedway Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended May 31, 2014; Reiterates Earnings Guidance for 2014

International Speedway Corp. announced unaudited consolidated earnings results for the second quarter and six months ended May 31, 2014. For the quarter, the company reported revenues of $190,311,000 compared to $178,374,000 a year ago. Operating income was $34,739,000 compared to $37,080,000 a year ago. Income before income taxes was $34,804,000 compared to $36,453,000 a year ago. Net income was $21,469,000 or $0.46 per basic and diluted share compared to $22,440,000 or $0.48 per basic and diluted share a year ago. Non-GAAP net income was $23,385,000 or $0.50 per diluted share compared to $23,747,000 or $0.51 per diluted share a year ago. For the six months, the company reported revenues of $322,100,000 compared to $306,926,000 a year ago. Operating income was $57,078,000 compared to $62,227,000 a year ago. Income before income taxes was $61,110,000 compared to $58,678,000 a year ago. Net income was $41,364,000 or $0.89 per basic and diluted share compared to $35,953,000 or $0.77 per basic and diluted share a year ago. Net cash provided by operating activities was $105,426,000 compared to $101,586,000 a year ago. Capital expenditures were $74,708,000 compared to $21,632,000 a year ago. Non-GAAP net income was $23,385,000 or $0.84 per diluted share compared to $23,747,000 or $0.85 per diluted share a year ago. The company expects, for its 2014 fiscal year, that its share of the cash flow from the casino's operations will be approximately $20.0 million. The company reiterated its previously announced 2014 full year non-GAAP guidance, as updated on the 2014 first quarter earnings call for consolidation of Motorsports Authentics. Revenue: $635 million to $650 million. EBITDA margin: 29.5% to 30.5%. Operating margin: 17.0% to 18.5%. Diluted earnings per share: $1.30 to $1.50.

International Speedway Corp., Q2 2014 Earnings Call, Jul 03, 2014

International Speedway Corp., Q2 2014 Earnings Call, Jul 03, 2014

International Speedway Corporation Promotes Craig A. Neeb to Senior Vice President, Business Development

International Speedway Corporation announced the election of Craig A. Neeb to Senior Vice President, Business Development and Chief Digital Officer following its Board of Directors meeting. Neeb, 53, first employed by ISC in 2000, has been serving as vice president, business development and chief digital officer since February 2013. As Senior Vice President, he will continue to be responsible for company's strategic business development opportunities while providing project guidance to the DAYTONA Rising and ONE DAYTONA initiatives. Specific areas of operational oversight include MRN Radio, and interactive media. Also, Mr. Neeb will continue to oversee company's information and telecommunications services with specific emphasis on positioning innovation in the digital space and technology solutions to maximize their impact on business strategies including guest experiences.

International Speedway Corporation Announces an Increase in its Annual Dividend, Payable on June 30, 2014

International Speedway Corporation declared an annual dividend of $0.24 per share, payable on June 30, 2014, to common stockholders of record on May 31, 2014, marking the 41(st) consecutive year that the company has paid a dividend to its shareholders.

International Speedway Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended February 28, 2014; Reiterates Earnings Guidance for the Full Year 2014; Provides Capital Expenditure Guidance for 2014, 2015, 2016 and 2017

International Speedway Corp. reported unaudited consolidated earnings results for the first quarter ended February 28, 2014. For the quarter, the company reported revenues of $131,789,000 compared to $128,552,000 a year ago. Operating income was $22,339,000 compared to $25,147,000 a year ago. Income before income taxes was $26,306,000 compared to $22,225,000 a year ago. Net income was $19,895,000 or $0.43 per diluted share compared to $13,513,000 or $0.29 per diluted share a year ago. Non GAAP net income was $15,506,000 or $0.33 per diluted share compared to $15,525,000 or $0.33 per diluted share a year ago. Net cash provided by operating activities was $37,364,000 compared to $34,662,000 a year ago. Capital expenditures was $31,247,000 compared to $6,106,000 a year ago. The company reiterates its 2014 full year earnings guidance. The company expects total revenue guidance range of $635 million to $650 million, EBITDA margin to range from 29.5% to 30.5%, operating margin to range from 17.0% to 18.5% and non-GAAP diluted earnings per share guidance to range from $1.30 to $1.50. The majority of the capital expenditures for the Daytona Rising project will occur in fiscal 2014 and 2015, the company estimates capital expenditures across all of ISC's existing facilities, exclusive of capitalized interest, will be approximately $200.0 million for fiscal 2014 and approximately $180.0 million for fiscal 2015. With a target completion date of DAYTONA Rising in January 2016, capital expenditures will then decrease significantly with an expectation of capital expenditures for projects at all of ISC's existing facilities, exclusive of capitalized interest, to be between $60.0 million to $70.0 million in fiscal 2016 and fiscal 2017.

 

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Valuation ISCA Industry Range
Price/Earnings 30.7x
Price/Sales 2.5x
Price/Book 1.2x
Price/Cash Flow 6.9x
TEV/Sales 0.6x
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