- Taxes on some wealthy French top 100 pct of income: paper
- North Korea fires short-range missiles for two days in a row |
- Israel warns against Russian arms supply to Syria
- Winning ticket for $590.5 million Powerball lottery sold in Florida |
- Toyota plans to increase lithium-ion car battery output-Nikkei
UPDATE 1-Speedway Motorsports Q1 misses Wall Street
* Q1 EPS $0.24 vs est $0.33
* Q1 rev slips 11 pct, misses Street View
* Backs 2010 cont ops EPS $1.00-$1.40 vs est $1.24
May 5 (Reuters) - Speedway Motorsports' (TRK.N) first-quarter results missed expectations, hurt by weak demand across segments and a higher interest expense, and the race-track owner reaffirmed its 2010 earnings outlook.
The company, which operates the Atlanta, Bristol and Charlotte speedways, reported net income from continuing operations of $10.3 million, or 24 cents a share, down from $21.4 million, or 50 cents a share, a year ago. [ID:nASA00BG7]
Net interest expense nearly doubled to $13.5 million during the quarter.
Revenue at the Concord, North Carolina-based company, slipped 11 percent to $118.4 million.
Analysts were looking for earnings of 33 cents a share, on revenue of $124.7 million, according to Thomson Reuters I/B/E/S. The company's shares closed at $16.18 Tuesday on the New York Stock Exchange. (Reporting by Shradhha Sharma in Bangalore; Editing by Unnikrishnan Nair)
- Tweet this
- Share this
- Digg this