ISCA International Speedway Corporation

Racetrack operator International Speedway Corp. reported that profit rose 33% in its first quarter, topping Wall Street's views as core motor sports and admissions revenue rose.

International Speedway operates 13 of the nation's major motor sports entertainment facilities, including the Daytona International Speedway in Florida, home of the Daytona 500. The company also runs independent sports radio network Motor Racing Network.

Chief Executive Lesa France Kennedy said its Daytona Rising strategy—the redevelopment at Daytona, the company's flagship facility—helped drive the results by "providing new and unique marketing platforms for partners and new fan amenities."

In the latest quarter, revenue related to motor sports—the biggest contributor to the company's top line—rose to $98.7 million from $87.4 million a year earlier. Admissions revenue rose to $31.9 million from $30.5 million. Meanwhile, food, beverage and merchandise sales dropped to $8.3 million from $14.7 million.

Over all, International Speedway reported earnings of $19.8 million, or 43 cents a share, compared with $15 million, or 32 cents a share, in the prior-year period. Excluding items, the company posted a profit of 44 cents a share compared with 36 cents a share a year earlier. Revenue climbed 4.5% to $142.6 million.

Analysts polled by Thomson Reuters had expected profit of 41 cents a share on revenue of $146 million.

The company also backed total revenue forecast for 2016, expected to range from $660 million to $670 million.

Shares, which have climbed 12% in the past three months, were inactive premarket.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

April 05, 2016 09:05 ET (13:05 GMT)

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