UPDATE 1-International Speedway Q4 profit beats Street

* Q4 adj EPS $0.63 vs est $0.59

* Sees FY10 adj EPS $1.60-$1.80 vs est $1.94

* Q4 revenue $201.8 mln vs est $207.7 mln

Jan 28 (BestGrowthStock) – Race track owner International Speedway
Corp’s (ISCA.O: ) fourth-quarter profit (Read more your timing to make a profit.) beat Wall Street
expectations, helped by the shift of some events into the
quarter, but the company forecast 2010 earnings below market
estimates.

For the full year, the company expects earnings of $1.60 a
share to $1.80 a share, excluding items, on revenue of $660
million to $680 million.

Analysts on average expect the company to earn $1.94 a
share on revenue of $694.4 million in 2010, according to
Thomson Reuters I/B/E/S.

For the fourth quarter, the company reported net income of
$9.0 million, or 19 cents a share, compared with $33.6 million,
or 69 cents a share, last year.

Revenue fell nearly 2 percent to $201.8 million.

Excluding items, the company earned 63 cents a share.

Analysts were expecting the company to earn 59 cents a
share, before items, on revenue of $207.7 million.

Shares of the Daytona Beach, Florida-based company closed
at $29.32 Wednesday on Nasdaq.

Stock News

(Reporting by Abhishek Takle in Bangalore; Editing by Ratul
Ray Chaudhuri)

UPDATE 1-International Speedway Q4 profit beats Street