Shares of International Speedway Corp. (ISCA) recorded a gain of $3.10, or 6.84% to $45.35 in premarket trading Thursday, after the company presented its quarterly results.

ISCA stock has added nearly 14% in 2018. The shares have risen 29% in the last twelve months.

ISCA Earnings & Outlook

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The company posted a profit of $16.7 million, or $0.38 per share for the three months ended May 31, 2018. In the earlier-year period, ISC had a net income of $13.2 million, or $0.29 per share.

Excluding non-recurring items, adjusted earnings per share came to $0.37, ahead of Thompson Reuters consensus of $0.36.

Total revenue was $171.7 million, compared to $165.3 million the company reported in the same period last year. Revenue from the motorsports category and related-events was $133.3 million, up 9% from the year-ago quarter.

Meanwhile, net admissions revenue dropped 10% to $25.7 million, while revenue from merchandise, food, and beverages was $6.9 million, down 27%. Operating income was $17.3 million, compared to $18.4 million in the same period in 2017.

International Speedway Corp. CEO Comments

The Chief Executive Officer of ISC, Ms. Lesa France Kennedy, commented, “Our overall financial results for second quarter are in line with expectations and the 2018 outlook, despite admissions headwinds faced during the quarter.”

The CEO continued, “Revenue for events held during the quarter was impacted by weather, construction at ISM Raceway, and a general trend of lower sales at live sporting events. We remain committed to our consumer focused sales and marketing initiatives, providing segmented experiences desired by fans for a good value, which have proven to yield positive results against these trends.”