International Speedway Corp. announced the additions of Ms. Sonia Maria Green and Mr. Larry D. Woodard to the company's Board of Directors. Ms. Green and Mr. Woodard appointments fill existing vacancies on ISC's Board of Directors. Mr. Woodard will hold office until the 2014 annual meeting of shareholders, completing the term of Raymond Mason, who did not stand for re-election in 2011. Ms. Green will hold office until the 2015 annual meeting of shareholders, completing the term of Edward Rensi, who did not stand for re-election in 2012. The company declared an annual dividend of $0.22 per share, payable on June 28, 2013, to common stockholders of record on May 31, 2013. The company paid an annual dividend of $0.20 per share in 2012.

International Speedway Corp. announced unaudited consolidated earnings results for the first quarter ended February 28, 2013. For the quarter, total revenues were $128.552 million, operating income was $25.147 million, income before income taxes was $22.225 million and net income was $13.213 million or $0.29 per basic and diluted share against total revenues of $127.398 million, operating income of $29.699 million, income before income taxes of $26.827 million and net income of $17.139 million or $0.37 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $34.662 million and capital expenditures were $6.106 million against net cash provided by operating activities of $31.231 million and capital expenditures of $12.796 million a year ago. Non-GAAP net income was $15.525 million or $0.33 per diluted share against non-GAAP net income of $17.075 million or $0.37 per diluted share a year ago. The company reiterated its 2013 total revenue guidance range of $610.0 million to $625.0 million. In addition, the company is maintaining its fiscal 2013 full year non-GAAP earnings range of $1.35 to $1.55 per diluted share after-tax. EBITDA margin to range between 31.5% and 32.5% and operating margin to range between 18.5% and 20%. 2013 capital expenditures at existing facilities will be approximately $80 million to $90 million. The company currently expect effective tax rate of 39% for the year.

International Speedway Corp., Q1 2013 Earnings Call, Apr 04, 2013