This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

International Speedway's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: ISCA

So with these formalities out of the way, I'll turn the call over to Lesa Kennedy. Lesa?

Lesa France Kennedy

Good morning, and thank you, everyone, for participating on today's call. We have another terrific motorsports season that's now under way. We've been very pleased with Speedway so far and feel like we're off to a great start. We've been following our focused business plan, and we're consistently generating solid financial results. And our first quarter results are no different. With a strengthening economy, we have a great opportunity to grow our business through consumer and corporate spending trends. In addition, we believe the targeted improvements at our motorsports facilities will enhance the guest experience and even further support our growth.

In addition, our highly anticipated Hollywood Casino at Kansas Speedway opened on February 3, and we've been very pleased with the performance to date. Not only does this strategic investment complement our core business, but it's another innovative way that we are building shareholder value.

So with that, I'd like to thank all of you, and I'll now turn it over to John Saunders.

John R. Saunders

Thank you, Lesa, and good morning, everyone. During our fiscal first quarter, due to the scheduling of the Daytona 500 a week later in February, our Phoenix NASCAR Sprint Cup and Nationwide events were moved to our fiscal second quarter. Other quarter-over-quarter comparisons are outlined in the earnings news release.

We are very pleased with the energy generated from the start of the motorsports season, beginning with the 50th running of the Rolex 24 at Daytona, followed by Speedweeks and culminating with the Daytona 500. All of the events surrounding Daytona were excelling, then the rain-postponed 500 had the potential to dampen enthusiasm.

As it turned out, the decision to schedule the event for the first ever primetime running of the Daytona 500 confirmed what we know about NASCAR. The fan passion and enthusiasm is unsurpassed. We estimated 85% to 95% of ticket holders return for the Monday night must-see event. The television viewing audience was impressive. Without significant promotion, the 500 won the night during primetime among adults 18 to 49, a tremendous achievement on a very competitive night of programming entertainment. The Great American Race outperformed NBC's The Voice, ABC's The Bachelor and CBS's How I Met Your Mother.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs