Speedway Motorsports logs $1.5M net loss in 1Q
Published: May 4, 2011
Time posted: 11:04 am
Tags: Speedway Motorsports
Speedway Motorsports today reported a first-quarter net loss of $1.5 million, or 4 cents per diluted share, compared with net income of $9 million, or 21 cents per diluted share, in the same quarter last year.
Among other things, the company blamed the results on a drop in consumer and corporate spending and higher fuel prices. This year, as in 2010, Speedway said it has had to reduce ticket prices to boost sales.
Total revenues were $86.7 million in 2011 compared to $118.5 million in 2010.
Speedway is a marketer and promoter of motorsports entertainment.