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Article: Speedway Motorsports Reports First Quarter 2008 Results and Reaffirms Full Year 2008 Guidance.(Financial report)
- Article from:
- Business Wire
- Article date:
- May 7, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CONCORD, N.C. -- Speedway Motorsports, Inc. (SMI) (NYSE:TRK) today reported record first quarter 2008 revenues, demonstrating that demand and appeal for motorsports entertainment and merchandise in SMI's markets remain strong despite challenging economic times. Also, SMI reaffirmed its full year 2008 earnings guidance of $2.40 to $2.50 per diluted share.
First Quarter Comparison
For the first quarter 2008 as compared to 2007:
* total revenues were $155.2 million in 2008 compared to $152.2 million in 2007;
* net interest expense was $9.4 million in 2008 compared to $4.7 million in 2007, reflecting increased borrowings to fund the ...