For the year ending December 31 2002, he says revenues could be as little as $68million (EUR78m) compared with $70.3m (EUR80.4m) in 2001 and $75m (EUR86m) in 2000.
He also says that the motor sport company will make an operating loss of between $1m (EUR1.1m) and $4.5m (EUR5.2m).
But net income is expected to rise to a maximum of $2.2m (EUR2.5m) - a huge improvement on last year's net loss of $950,000 (EUR1m) thanks to an interest income of about $4.4m (EUR4m).
But compared with a net income of $15.2m (EUR17.4m) in 2000, CART's financial position in 2002 is likely to be considered fragile, sparking more rumours that a merger with its rival, the Indy Racing League (IRL) is inevitable.
"This is clearly a transition year for CART, with a changed business model, new management structure and an uncertain economic environment," said Pook. "Nevertheless, we are confident that we have the right elements in place to succeed for the long term and that we will show significant progress in 2002 toward evolving CART to a marketing driven company and achieving sustainable operating profitability."
