International Speedway Corp. said its normalized net income for the fiscal second quarter ended May 31 came to 38 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.
EPS decreased 26.9% year over year from 52 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.8 million, a decrease of 26.8% from $24.4 million in the year-earlier period.
The normalized profit margin fell to 10.9% from 12.8% in the year-earlier period.
Total revenue decreased 13.8% year over year to $164.0 million from $190.3 million, and total operating expenses decreased 8.8% year over year to $138.0 million from $151.4 million.
Reported net income declined 36.9% year over year to $13.5 million, or 29 cents per share, from $21.4 million, or 46 cents per share.