International Speedway Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended November 30, 2017; Provides Earnings Guidance for the Fiscal Year 2018
For the year ended November 30, 2017, total revenues were $671.4 million, compared to $661.0 million in 2016. Operating income for the full-year period was $96.2 million compared to $109.8 million in the prior year. Net income for the year-ended November 30, 2017, was $110.8 million, or $2.48 per diluted share, compared to a net income of $76.3 million, or $1.66 per diluted share in 2016. Non-GAAP net income for fiscal 2017, was $72.1 million, or $1.61 per diluted share. This is compared to non-GAAP net income for fiscal 2016 of $68.1 million, or $1.48 per diluted share. Income before income taxes was $105.2 million against $124.1 million reported last year.
For fiscal 2018, the company anticipates total revenues to range between $680.0 million to $695.0 million. EBITDA is estimated to range between $241.0 million and $252.0 million, which includes pre-tax cash distributions between $26.0 million and $27.0 million from equity investments in the Hollywood Casino. Operating margin is estimated between 15.5% to 16.5%. Diluted earnings per share is estimated to range between $1.90 to $2.10.