International Speedway Corporation Reports Financial Results for the Fourth Quarter and Full-Year of Fiscal 2012

 International Speedway Corporation Reports Financial Results for the Fourth
                     Quarter and Full-Year of Fiscal 2012

~Provides 2013 Full-Year Financial Guidance

PR Newswire

DAYTONA BEACH, Fla., Jan. 24, 2013

DAYTONA BEACH, Fla., Jan.24, 2013 /PRNewswire/ -- International Speedway
Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB)
("ISC") today reported financial results for its fiscal fourth quarter and
full-year ended November30, 2012.

(Logo: http://photos.prnewswire.com/prnh/20091005/FL87045LOGO )

"We experienced leading signs of revenue stabilization this year," stated ISC
Chief Executive Officer Lesa France Kennedy. "For fiscal 2012, adjusting for
non-comparable events as well as the expected loss of ancillary rights fees to
the industry, total revenues were down less than one percent. This was due to
year-over-year increases in broadcast fees, net sponsorship, advertising, and
food, beverage & merchandise revenues for comparable operations. However, we
continue to experience modest headwinds with admissions, not to the degree
experienced in 2011, but enough to know we still have further inroads to make
with our consumer.

"Also encouraging was the announcement in October that NASCAR and FOX
finalized an eight-year extension of broadcast rights through the 2022
season. The extension, which industry sources have valued at more than $2.4
billion over eight years, is an approximate 36.4 percent increase over the
current agreement that expires after the 2014 season. This agreement keeps us
optimistic for the remaining content with ESPN and Turner, for which NASCAR is
expected to begin negotiations over the summer.

"Based on our experience and view of the evolution of modern sports
facilities, demand for our events depends, in part, on the fans' experience.
Improving the event day experience will positively influence
attendance-related revenues in the long run. In addition, and of equal
importance, it will support both corporate sales and the long-term health of
broadcast media rights fees.

"We are committed to meeting and exceeding our fans' expectations through
on-going capital improvements at our facilities. We are providing our fans
enhanced audio and visual experiences, more comfortable and wider seating,
more concession and merchandise points-of-sale, and greater social
connectivity. This strategy is absolutely aligned with NASCAR's five-year
Industry Action Plan aimed to connect with existing fans, as well as engage
Gen Y, youth and multicultural consumers in motorsports.

"Another area of focus within NASCAR's Industry Action Plan is building
product relevance. Beginning with this season, NASCAR introduced the next
generation Sprint Cup car for 2013, what we are calling "Gen-6". The Gen-6
program is the most comprehensive overhaul in the sport since 2007. Its goal
is to re-establish brand identity among the automotive manufacturers and
provide competitive upgrades in an effort to improve competition in NASCAR's
Sprint Cup Series.

"Also new this season to improve the event experience is NASCAR's new track
drying system that will dramatically speed up the process of getting racing
surfaces back to green-flag conditions following rain. Weather is one of our
biggest impediments to stronger ticket renewals. Year-in and year-out, after
a rain delayed or postponed event due to weather, the following year's ticket
renewals for that event are negatively impacted. NASCAR's ultimate goal is to
see a superspeedway like Daytona International Speedway race-ready in thirty
minutes rather than two hours and a short track like Martinsville Speedway
completed in fifteen minutes."

Fourth Quarter Comparison

Total revenues for the fourth quarter ended November30, 2012 were
approximately $189.4 million, compared to revenues of approximately $191.9
million in the prior-year period. Operating income was approximately $41.4
million during the period compared to approximately $49.2 million in the
fourth quarter of fiscal 2011. In addition to the macroeconomic challenges,
quarter-over-quarter comparability was impacted by:

  oThe fall NASCAR Camping World Truck Series event at Phoenix International
    Raceway held in the fourth quarter of fiscal 2012 was held in the first
    quarter of fiscal 2011.
  oAuto Club Speedway held an IZOD IndyCar Series event in fiscal 2012, for
    which there was no comparable event in fiscal 2011.
  oChicagoland Speedway held a NASCAR Camping World Truck Series event in the
    third quarter of fiscal 2012. The corresponding event was held in the
    fourth quarter of fiscal 2011.
  oThe Company earned an immaterial amount of ancillary revenue due to a
    combination of factors, primarily related to SiriusXM Radio, which has
    historically been the most significant contributor to the industry's
    ancillary rights revenue. Since the merger of Sirius Satellite Radio and
    XM Satellite Radio there is now only one satellite provider, SiriusXM
    Radio, bidding on the distribution rights for original programming. As a
    result, distribution rights agreements entered into by SiriusXM Radio for
    original programming subsequent to the merger have generally been lower.
  oDuring the quarter ended November30, 2012, the Company expensed
    approximately $1.5 million, or $0.02 per diluted share, of certain ongoing
    carrying costs related to its Staten Island property. In the 2011 fourth
    quarter, the Company expensed approximately $1.3 million, or $0.02 per
    diluted share, of certain ongoing carrying costs related to its Staten
    Island property.
  oIn the fourth quarter of fiscal 2012, the Company recognized approximately
    $4.1 million, or $0.06 per diluted share, of impairments / losses on
    disposals of long-lived assets primarily attributable to the removal of
    assets not fully depreciated in connection with certain capital
    improvements.
  oDuring the quarter ended November30, 2012, the Company recognized $0.8
    million of income from equity investments associated with its Hollywood
    Casino at Kansas Speedway joint venture. During the fourth quarter of
    fiscal 2011, the Company recognized a loss of approximately $1.4 million,
    or $0.02 per diluted share, from this equity investment consisting of
    start up costs prior to opening in fiscal 2012.

Net income for the fourth quarter was approximately $24.7 million, or $0.53
per diluted share, compared to net income of approximately $26.5 million, or
$0.56 per diluted share, in the prior year period. Excluding certain carrying
costs related to the Staten Island property and impairments / losses on
disposals of certain other long-lived assets, non-GAAP (defined below) net
income for the fourth quarter of 2012 was $28.3 million, or $0.61 per diluted
share. Non-GAAP net income for the fiscal fourth quarter of 2011 was $29.0
million, or $0.62 per diluted share.

Full-Year Comparison

For the year ended November30, 2012, total revenues were $612.4 million,
compared to $629.7 million in 2011. Operating income for the full-year period
was $105.0 million compared to $133.2 million in the prior year.

Year-over-year comparability was impacted by:

  oThe NASCAR Camping World Truck Series event held at Darlington Raceway in
    the second quarter of fiscal 2011 was not held in fiscal 2012.
  oThe NASCAR Nationwide Series event held at Stock Car Montreal in the third
    quarter of fiscal 2011 for which we are no longer the event promoter
    starting in fiscal 2012.
  oAuto Club Speedway held an IZOD IndyCar Series event in fiscal 2012, for
    which there was no comparable event in fiscal 2011.
  oThe aforementioned decrease in ancillary revenue.
  oIn fiscal 2012, the Company expensed approximately $4.6 million, or $0.06
    per diluted share, of certain ongoing carrying costs related to its Staten
    Island property. During fiscal 2011, the Company expensed approximately
    $2.7 million, or $0.04 per diluted share, of similar costs.
  oDuring fiscal 2012, the Company recognized a charge relating to a
    settlement of a litigation involving certain ancillary facility operations
    of approximately $1.2 million, or $0.01 per diluted share.
  oThe impairments / losses on disposals of long-lived assets in fiscal 2012,
    of approximately $11.1million, or $0.15 per diluted share, were primarily
    attributable to the removal of assets not fully depreciated in connection
    with certain capital improvements. During fiscal 2011, the Company
    recorded an approximately $4.7 million, or $0.06 per diluted, impairments
    / losses on disposals of long-lived assets.
  oIn fiscal 2012, the Company recognized approximately $9.1 million in
    expenses, or $0.12 per diluted share, related to the redemption of the
    remaining $87.0 million principal 5.40 percent Senior Notes maturing in
    2014.
  oIn fiscal 2012, the Company recognized approximately $2.8 million of
    income from equity investments associated with its Hollywood Casino at
    Kansas Speedway joint venture, which included results of operations
    beginning in February 2012, net of charges related to certain start up
    costs through the opening. In fiscal 2011, the Company recognized a loss
    of approximately $4.2 million, or $0.05 per diluted share, from this
    equity investment consisting of start up costs prior to opening in fiscal
    2012.
  oDuring fiscal 2012, the Company recorded approximately $0.9 million, or
    $0.01 per diluted share, net gain on the sale of certain assets.

Net income for the year-ended November30, 2012, was $54.6 million, or $1.18
per diluted share, compared to a net income of $69.4 million, or $1.46 per
diluted share in 2011. Excluding certain carrying costs related to the Staten
Island property; legal settlement; impairments / losses on disposals of
certain other long-lived assets; loss on early redemption of debt; and the net
gain on sale of certain assets, non-GAAP (defined below) net income for the
fiscal 2012, was $70.1 million, or $1.51 per diluted share. This is compared
to non-GAAP net income for the fiscal 2011 of $76.5 million, or $1.61 per
diluted share.

GAAP to Non-GAAP Reconciliation

The following financial information is presented below using other than U.S.
generally accepted accounting principles ("non-GAAP"), and is reconciled to
comparable information presented using GAAP. Non-GAAP net income and diluted
earnings per share below are derived by adjusting amounts determined in
accordance with GAAP for certain items presented in the accompanying selected
operating statement data, net of taxes.

The adjustments for 2011 relate to carrying costs of the Company's Staten
Island property, impairments of certain other long-lived assets and the
pre-opening expenses related to the Hollywood Casino at Kansas Speedway -
equity in net loss from equity investment.

The adjustments for 2012 relate to carrying costs of the Company's Staten
Island property, legal settlement, impairments / losses on disposals of
certain other long-lived assets, loss on early redemption of debt and net gain
on sale of certain assets.

The Company believes such non-GAAP information is useful and meaningful, and
is used by investors to assess its core operations, which consist of the
ongoing promotion of racing events at its major motorsports entertainment
facilities. Such non-GAAP information adjusts for items that are not
considered to be reflective of the Company's continuing core operations at its
motorsports entertainment facilities. The Company believes that such non-GAAP
information improves the comparability of its operating results and provides a
better understanding of the performance of its core operations for the periods
presented. The Company uses this non-GAAP information to analyze the current
performance and trends and make decisions regarding future ongoing operations.
This non-GAAP financial information may not be comparable to similarly titled
measures used by other entities and should not be considered as an alternative
to operating income, net income or diluted earnings per share, which are
determined in accordance with GAAP. The presentation of this non-GAAP
financial information is not intended to be considered independent of or as a
substitute for results prepared in accordance with GAAP. The Company uses both
GAAP and non-GAAP information in evaluating and operating its business and as
such deemed it important to provide such information to investors.



                        Three Months Ended          Year Ended
                        November30,  November30,  November30,  November30,
                        2011          2012          2011          2012
                                      (Unaudited)
                        ( In Thousands, Except Per Share Amounts )
Net income              $  26,466     $  24,736     $  69,424     $  54,578
Adjustments, net of
tax:
Carrying costs related  787           919           1,664         2,780
to Staten Island
Legal settlement        —             —             —             714
Impairments / losses
on disposals of         951           2,663         2,845         7,004
long-lived assets
Loss on early           —             —             —             5,560
redemption of debt
Equity in net loss
from equity             826           —             2,534         —
investments, net of
tax
Net gain on sale of     —             (9)           —             (566)
certain assets
Non-GAAP net income     $  29,030     $  28,309     $  76,467     $  70,070
Per share data:
Diluted earnings per    $  0.56       $  0.53       $  1.46       $  1.18
share
Adjustments, net of
tax:
Carrying costs related  0.02          0.02          0.04          0.06
to Staten Island
Legal settlement        —             —             —             0.01
Impairments / losses
on disposals of         0.02          0.06          0.06          0.15
long-lived assets
Loss on early           —             —             —             0.12
redemption of debt
Equity in net loss
from equity             0.02          —             0.05          —
investments, net of
tax
Net gain on sale of     —             —             —             (0.01)
certain assets
Non-GAAP diluted        $  0.62       $  0.61       $  1.61       $  1.51
earnings per share



Corporate support for ISC remains strong, despite the economic downturn which
has influenced corporate budgets, sales and contract duration. The number of
current Fortune 500 companies invested in NASCAR remains higher than any other
sport. And, more Fortune 500 companies are involved in NASCAR than in 2008.

For 2012, The Company experienced a mix of both increasing and decreasing
pricing for open inventory as it had more available than in previous years.
However, ISC has good visibility on this revenue source and has been able to
accurately target its gross corporate marketing partnership revenues over the
past few years.

Benefiting the Company as the 2013 motorsports season begins is that it will
have significantly less open entitlement inventory compared to this time last
year. ISC has sold all of its available NASCAR Sprint Cup Series entitlements
for the year. The remaining open NASCAR entitlements include three Nationwide
Series and two Camping World Truck Series entitlements. Last year at this
time, the Company had five NASCAR Sprint Cup Series, three NASCAR Nationwide
Series and two Camping World Truck Series entitlements open.

Based on feedback, corporate sponsors continue to generate a solid return on
their investment in using entitlements to grow their respective businesses.
Entitlements provide ISC's corporate partners an opportunity to essentially
own an entire week of the NASCAR season while receiving valuable exposure for
months prior to the event. The Company, for 2013, has secured new entitlement
partners including Kellogg's, Sprint and Toyota, as examples. With fewer open
entitlements, ISC's sales force is focusing on its official sponsor categories
and concept-based partnerships, which it expects will pay off for the Company
this year and in 2014.

External Growth, Financing-Related and Other Initiatives

Hollywood Casino at Kansas Speedway

The Hollywood Casino at Kansas Speedway, which opened on February 3, 2012,
features a 95,000 square-foot casino with 2,000 slot machines and 52 table
games, a 1,253 space parking structure as well as a sports-themed bar, dining
and entertainment options. The Company's 50/50 joint venture partner Penn
National Gaming, Inc. is responsible for the development and operation of the
casino.

The Company's share of capitalized development costs for the project,
excluding its contribution of land, was approximately $145.0 million. Through
November30, 2012, ISC has funded approximately $134.3 million of these
capitalized development costs as well as certain working capital needs of the
project prior to opening. Cash flow from the casino's operations has been used
to fund the remaining development costs.

Since opening in February, the Hollywood Casino at Kansas Speedway has
captured approximately 16.0 percent of the total adjusted gross gaming revenue
in the Kansas City market that has a total of five operating casinos, four of
which are on the Missouri side of Kansas City.

During the fiscal 2012 fourth quarter, the Company received approximately $8.5
million in cash distributions from the casino's operations. In addition, in
December 2012, the Company received a cash distribution from the casino's
operations of approximately $4.5 million.

The Company remains optimistic that the Hollywood Casino at Kansas Speedway
will reach certain milestones in the near term. For 2013, the Company's
current expectation of cash distributions from the casino to ISC will be in
the mid- to high-teen million dollar range. The high-end would come from a
favorable resolution to the property taxes that are currently under
appeal.

Liquidity

In November 2012, the Company amended and restated its $300.0 million
revolving credit facility. The amendment provided better terms, extended the
final maturity of the facility from November 2015 to November 2017, and a
reduction of certain other fees. The improved terms on the Facility include
an amended pricing grid ranging from LIBOR + 1.00% to LIBOR + 1.625%,
depending on the better of ISC's debt rating as determined by Standard &
Poor's or the Company's leverage ratio. Comparable pricing on ISC's previous
credit facility ranged from LIBOR + 1.50% to LIBOR + 2.25%.

Capital Spending

The Company competes for the consumers' discretionary dollar with many
entertainment options such as concerts and other major sporting events, not
just other motorsport events. To better meet its customer's expectations, ISC
is committed to improving the guest experience at its facilities through
on-going capital improvements that position it for long-term growth.

For fiscal 2012, the Company spent approximately $82.9 million on capital
expenditures for projects at its existing facilities. In comparison, capital
expenditures for fiscal 2011 totaled approximately $76.8 million, which
included approximately $68.0 million for projects at its existing facilities.
The remaining balance was associated with land purchases and additional
capitalized spending for the Staten Island property.

At November30, 2012, the Company had approximately $28.7 million remaining in
capital projects currently approved for its existing facilities. These
projects include:

  ograndstand seating enhancements at Talladega and Daytona;
  ograndstand improvements at Richmond International Raceway;
  oimproved restroom buildings at Michigan; and
  oimprovements at various facilities for expansion of parking, camping
    capacity and other uses.

As a result of these currently approved projects and anticipated additional
approvals in fiscal 2013, the Company expects its total fiscal 2013 capital
expenditures at its existing facilities will be approximately $80.0 million to
$90.0 million, depending on the timing of certain projects. The Company
reviews the capital expenditure program periodically and modifies it as
required to meet current business needs.

The Company is currently in the process of reviewing potentially highly
impactful projects that would necessitate an increase in its future capital
spending at existing facilities above recent levels. At Daytona, the City
Commission of Daytona Beach unanimously approved the Company's Planned Master
Development Application, which is the first step in the pursuit of potential
redevelopment projects at the 'World Center of Racing.'

While many aspects of this project are yet to be determined, such a project
could include a complete overhaul of the entire frontstretch grandstand,
creating a world class motorsports entertainment facility including features
such as new seats, suites and guest amenities, as well as new entry points,
improved fan conveyance, a modern exterior, first-class interior areas, and a
redesigned midway for fans. Any substantial increase in spending above recent
levels will depend upon several factors such as stable economic operating
environment, continued maintenance of a strong liquidity position and,
preferably, the sale of the Company's Staten Island property.

Return of Capital

The Company did not purchase any shares of its Class A common shares during
its fiscal fourth quarter. For fiscal 2012, ISC purchased 405,538 shares of
its Class A stock for approximately $10.3 million, bringing the total number
of shares purchased from December 2006 through November30, 2012 to
approximately 7.1 million shares. At the end of fiscal 2012, the Company had
approximately $61.7 million in remaining capacity on its $330.0 million
authorization.

Fiscal 2013 Financial Outlook

For fiscal 2013, the Company anticipates total revenues to range between $610
million and $625 million. The expectation for the year, aside from the 3.6
percent increase in television rights fees for NASCAR's Top three racing
series to approximately $291.4 million, is for admissions, corporate, and
food, beverage & merchandise to remain stable year-over-year. The low-end of
the range primarily contemplates a similar decrease in consumer-related
revenues that the Company experienced in fiscal 2012.

The Company expects certain non-controllable expense increases for the year,
primarily an approximate 3.0 percent increase in NASCAR's sanction fees and
prize and point fund monies. While certain cost reductions the Company
implemented in previous years have been sustained, it has re-instituted merit
pay and bonuses to certain eligible employees.

During fiscal 2012, Americrown, the Company's subsidiary that provides
catering services, food and beverage concessions, and produces and markets
motorsports-related merchandise, implemented organizational changes to better
adapt to consumer and corporate demands. While these one-time organizational
restructuring charges impacted 2012 margins, the strategic realignment of
operations should deliver stronger margins in 2013 and beyond.

As a result, the Company currently expects its fiscal 2013 EBITDA margin to
range between 31.5 percent and 32.5 percent of total revenues. Deprecation
and amortization expense is expected to be approximately $80.0 million. The
Company currently expects its 2013 operating margin to range between 18.5
percent and 20.0 percent of total revenues. The Company's effective tax rate
in 2013 will be approximately 38.0 percent to 39.0 percent.

The Company expects cash distributions on the cash flow from the casino to ISC
will be in the mid- to high-teen million dollar range. The high-end of the
range would come from a favorable resolution to the property taxes that are
currently under appeal. Equity income from the casino would be approximately
$4.0 million to $7.0 million for the year.

The Company currently expects a $0.02 increase in its annual dividend,
contingent upon approval from ISC's Board of Directors. The Company's share
repurchase program will continue to maintain opportunistic parameters based on
levels of ISC's stock price. On a quarterly basis, the Company will review
and adjust, if necessary, the parameters of its Stock Purchase Plan.

Based on all of the above assumptions, the Company expects its fiscal 2013
non-GAAP earnings of between $1.35 and $1.55 per diluted share. The high-end
of ISC's non-GAAP earnings per share range assumes that the Company
repurchases $25.0 million of shares. From an earnings perspective the fourth
quarter will be the Company's most significant, followed by the second, first
and third quarters.

ISC's fiscal 2013 non-GAAP earnings per share guidance excludes any
accelerated depreciation and future impairments / losses on disposals of
certain long-lived assets which could be recorded as part of capital
improvements resulting in removal of assets prior to the end of their actual
useful life; any income statement impact attributable to the Company's
proposed redevelopment project at Daytona; certain carrying costs as well as
any gain or loss on the sale of its Staten Island property and unanticipated
further impairment of the property.

Event Schedule



                         First      Second     Third      Fourth     Full
                         Quarter    Quarter    Quarter    Quarter    Fiscal
                                                                     Year
Series Name              2013 2012  2013 2012  2013 2012  2013 2012  2013 2012
NASCAR Sprint Cup        3    3     7    7     4    4     7    7     21   21
NASCAR Nationwide        1    1     5    5     4    4     5    5     15   15
NASCAR Camping World     1    1     2    2     1    2     5    4     9    9
IZOD IndyCar             0    0     0    0     0    0     1    1     1    1
ARCA RE/MAX              1    1     1    1     2    2     1    1     5    5
Grand-Am Rolex Sports    1    1     0    2     2    1     0    0     3    4
Car
AMA Superbike/Supercross 0    0     1    2     0    0     0    1     1    3
                         7    7     16   19    13   13    19   19    55   58



Camping World Truck Series

Chicagoland Speedway will host its NASCAR Camping World Truck Series event in
the fourth quarter of fiscal 2013. The corresponding event was held in the
third quarter of fiscal 2012.

In closing, Ms. France Kennedy stated, "We benefit from a solid financial
position that we have maintained over the years which affords us the ability
to execute our disciplined capital allocation strategy to maintain our
leadership position in the motorsports industry. There is a tremendous
opportunity for the Company to grow stronger as we continue to successfully
execute our strategic initiatives and support NASCAR's Industry Action Plan.
We are well-positioned to balance the ongoing capital needs of our business
including other strategic opportunities while returning capital to our
shareholders, which continues to be an important component of ISC's long-term
capital allocation strategy."

Conference Call Details

The management of ISC will host a conference call today with investors at 9:00
a.m. Eastern Time. To participate, dial toll free (888) 694-4641 five to ten
minutes prior to the scheduled start time and request to be connected to the
ISC earnings call, ID number 88254834.

A live Webcast will also be available at that time on the Company's Web site,
www.internationalspeedwaycorporation.com, under the "Investor Relations"
section. A replay will be available two hours after the end of the call
through midnight Thursday, February 7, 2013. To access, dial (855) 859-2056
and enter the code 88254834, or visit the "Investor Relations" section of the
Company's Web site.

International Speedway Corporation is a leading promoter of motorsports
activities, currently promoting more than 100 racing events annually as well
as numerous other motorsports-related activities. The Company owns and/or
operates 13 of the nation's major motorsports entertainment facilities,
including Daytona International Speedway® in Florida (home of the DAYTONA
500®); Talladega Superspeedway® in Alabama; Michigan International Speedway®
located outside Detroit; Richmond International Raceway® in Virginia; Auto
Club Speedway of Southern California^SM near Los Angeles; Kansas Speedway® in
Kansas City, Kansas; Phoenix International Raceway® in Arizona; Chicagoland
Speedway® and Route 66 Raceway^SM near Chicago, Illinois; Homestead-Miami
Speedway^SM in Florida; Martinsville Speedway® in Virginia; Darlington
Raceway® in South Carolina; and Watkins Glen International® in New York.

The Company also owns and operates Motor Racing Network^SM, the nation's
largest independent sports radio network and Americrown Service
Corporation^SM, a subsidiary that provides catering services, food and
beverage concessions, and produces and markets motorsports-related
merchandise. In addition, the Company has a 50 percent interest in the
Hollywood Casino at Kansas Speedway. For more information, visit the
Company's Web site at www.internationalspeedwaycorporation.com.

Statements made in this release that express the Company's or management's
beliefs or expectations and which are not historical facts or which are
applied prospectively are forward-looking statements. It is important to note
that the Company's actual results could differ materially from those contained
in or implied by such forward-looking statements. The Company's results could
be impacted by risk factors, including, but not limited to, weather
surrounding racing events, government regulations, economic conditions,
consumer and corporate spending, military actions, air travel and national or
local catastrophic events. Additional information concerning factors that
could cause actual results to differ materially from those in the
forward-looking statements is contained from time to time in the Company's SEC
filings including, but not limited to, the 10-K and subsequent 10-Qs. Copies
of those filings are available from the Company and the SEC. The Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be needed to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this release does not
constitute an admission by International Speedway or any other person that the
events or circumstances described in such statement are material.

(Tables Follow)



Consolidated Statements of Operations

(In Thousands, Except Share and Per Share Amounts)
                        Three Months Ended          Year Ended
                        November30,  November30,  November30,  November30,
                        2011          2012          2011          2012
                        (Unaudited)
REVENUES:
Admissions, net         $   42,112    $   40,146    $   144,433   $   136,099
Motorsports related     133,452       132,215       425,655       416,699
Food, beverage and      12,868        13,294        47,863        45,985
merchandise
Other                   3,510         3,793         11,734        13,584
                        191,942       189,448       629,685       612,367
EXPENSES:
Direct:
Prize and point fund
monies and NASCAR       49,823        50,419        154,562       154,673
sanction fees
Motorsports related     35,232        38,328        124,861       125,072
Food, beverage and      9,540         10,287        36,744        35,642
merchandise
General and             26,851        25,023        98,795        102,958
administrative
Depreciation and        19,706        19,878        76,871        77,870
amortization
Impairments / losses
on disposals of         1,568         4,068         4,687         11,143
long-lived assets
                        142,720       148,003       496,520       507,358
Operating income        49,222        41,445        133,165       105,009
Interest income         32            22            139           102
Interest expense        (3,278)       (3,446)       (14,710)      (13,501)
Loss on early           —             —             —             (9,144)
redemption of debt
Other income            —             92            —             1,008
Equity in net (loss)
income from equity      (1,361)       795           (4,177)       2,757
investments
Income from continuing
operations before       44,615        38,908        114,417       86,231
income taxes
Income taxes            18,149        14,172        44,993        31,653
Net income              $   26,466    $   24,736    $   69,424    $   54,578
Dividends per share     $   —         $   —         $   0.18      $   0.20
Earnings per share:
Basic and diluted       $   0.56      $   0.53      $   1.46      $   1.18
Basic weighted average  47,064,412    46,425,869    47,602,574    46,386,355
shares outstanding
Diluted weighted
average shares          47,064,412    46,436,938    47,611,179    46,396,631
outstanding
Comprehensive income    $   36,456    $   24,867    $   70,037    $   55,223



Consolidated Balance Sheets

(In Thousands, Except Share and Per Share Amounts)
                                          November30, 2011  November30, 2012
                                          (Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents                 $   110,078        $   78,379
Receivables, less allowance               36,098             30,830
Inventories                               2,481              3,020
Income taxes receivable                   5,914              6,202
Deferred income taxes                     3,949              2,029
Prepaid expenses and other current        6,875              7,159
assets
Total Current Assets                      165,395            127,619
Property and Equipment, net               1,371,776          1,362,186
Other Assets:
Equity investments                        100,137            146,378
Intangible assets, net                    178,701            178,649
Goodwill                                  118,791            118,791
Other                                     9,839              8,118
                                          407,468            451,936
Total Assets                              $   1,944,639      $   1,941,741
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Current portion of long-term debt         $   2,264          $   2,513
Accounts payable                          17,917             12,630
Deferred income                           46,209             42,818
Income taxes payable                      1,212              1,507
Current tax liabilities                   4,178              434
Other current liabilities                 17,856             16,849
Total Current Liabilities                 89,636             76,751
Long-Term Debt                            313,888            274,419
Deferred Income Taxes                     315,659            328,223
Long-Term Tax Liabilities                 1,784              1,790
Long-Term Deferred Income                 10,087             10,455
Other Long-Term Liabilities               1,119              1,293
Shareholders' Equity:
ClassA Common Stock, $.01 par value,     264                260
80,000,000 shares authorized
ClassB Common Stock, $.01 par value,     200                200
40,000,000 shares authorized
Additional paid-in capital                445,005            442,474
Retained earnings                         772,938            811,172
Accumulated other comprehensive loss      (5,941)            (5,296)
Total Shareholders' Equity                1,212,466          1,248,810
Total Liabilities and Shareholders'       $   1,944,639      $   1,941,741
Equity



Consolidated Statements of Cash Flows

(In Thousands)
                                          Year Ended
                                          November30, 2011  November30, 2012
                                          (Unaudited)
OPERATING ACTIVITIES
Net income                                $    69,424        $     54,578
Adjustments to reconcile net income to
net cash provided by operating
activities:
Depreciation and amortization             76,871             77,870
Stock-based compensation                  1,466              1,874
Amortization of financing costs           1,398              1,605
Deferred income taxes                     35,688             12,184
Loss (income) from equity investments     4,177              (2,757)
Impairments / losses on disposals of      4,687              8,055
long-lived assets, non cash
Other, net                                551                (829)
Changes in operating assets and
liabilities
Receivables, net                          (2,163)            5,268
Inventories, prepaid expenses and other   (601)              966
assets
Accounts payable and other liabilities    (649)              (2,521)
Deferred income                           (4,955)            (3,023)
Income taxes                              13,138             (2,345)
Net cash provided by operating            199,032            150,925
activities
INVESTING ACTIVITIES
Capital expenditures                      (76,848)           (82,872)
Decrease in restricted cash               1,002              —
Distribution from equity investee and     —                  11,000
affiliate
Equity investments and advances to        (60,625)           (51,984)
affiliate
Other, net                                (56)               1,423
Net cash used in investing activities     (136,527)          (122,433)
FINANCING ACTIVITIES
Proceeds under credit facility            30,000             130,000
Payments under credit facility            (82,000)           (180,000)
Proceeds from long-term debt              65,000             100,000
Payment of long-term debt                 (3,216)            (89,306)
Deferred financing fees                   (439)              (1,046)
Exercise of ClassA common stock options  51                 —
Cash dividends paid                       (8,585)            (9,283)
Reacquisition of previously issued        (37,404)           (10,556)
common stock
Net cash used in financing activities     (36,593)           (60,191)
Net increase (decrease) in cash and cash  25,912             (31,699)
equivalents
Cash and cash equivalents at beginning    84,166             110,078
of year
Cash and cash equivalents at end of year  $    110,078       $     78,379





SOURCE International Speedway Corporation

Website: http://www.internationalspeedwaycorporation.com
Contact: Charles N. Talbert, Senior Director, Investor and Corporate
Communications,+1-386-681-4281