The company, which stages a number of NASCAR and Indy races, revealed income for the second quarter and six months ended May 31, 2004, plummeted from $12.5m in 2003 to just $6.1m – which the company blames on one-off payments.
However, total revenues were up some eleven percent to $132.7m compared to $119.6m in the same period of 2003.
For the six months ended May 31, 2004, total revenues increased to $263.4m from $239.5m in 2003.
The company said highlights of the second quarter of 2004 included sold-out NASCAR Nextel Cup and record NASCAR Busch event attendance at California and Richmond, record attendance for Darlington's Spring Cup event, and increased attendance for certain other events at Talladega, Darlington, Nazareth and Phoenix.
In addition, ‘increased broadcast and media revenue, greater spending by the company's corporate partners at comparable events, and stronger food, beverage and merchandise sales’ contributed to the quarter's results Said Lesa France Kennedy, president of ISC: "Domestic broadcast revenues continued to drive overall revenue growth, supported by higher attendance and related revenues at substantially all of our races.
“In addition, we continue to see solid trends in corporate spending, as advertising, sponsorship and hospitality revenues increased for comparable events held during the quarter.
"Looking to the latter half of the year we see sustained strength in advanced ticket sales, with several events trending significantly ahead of last year. We also continue to anticipate solid growth for sponsorship and corporate hospitality revenue. Combined with strong increases in television and related revenue, we are on-track to post record results for 2004."
