International Speedway Corp. reported unaudited consolidated financial results for its fiscal fourth quarter and full-year ended November 30, 2012. For the quarter, the company reported total revenues of $189.4 million, compared to $191.9 million in the prior-year period. Operating income was $41.4 million compared $49.2 million in the fourth quarter of fiscal 2011. Net income was $24.7 million, or $0.53 per diluted share, compared to net income of $26.5 million, or $0.56 per diluted share, in the prior year period. Non-GAAP net income was $28.3 million, or $0.61 per diluted share compared to non-GAAP net income of $29.0 million, or $0.62 per diluted share a year ago. Income from continuing operations before income taxes was $38.908 million against $44,615 million a year ago.

For the year, the company reported total revenues of $612.4 million, compared to $629.7 million in 2011. Operating income was $105.0 million compared to $133.2 million in the prior year. Net income 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. Non-GAAP net income was $70.1 million, or $1.51 per diluted share compared to non-GAAP net income of $76.5 million, or $1.61 per diluted share a year ago. Income from continuing operations before income taxes was $86.231 million against $114.417 million a year ago. Net cash provided by operating activities was $199.032 million against $150.925 million a year ago. Capital expenditures were $76.848 million against $82,872 million a year ago. The company spent capital expenditures for projects at its existing facilities.

For the 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. 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% 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's effective tax rate in 2013 will be approximately 38.0% to 39.0%. 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.

For the year 2013, the company currently expects a $0.02 increase in its annual dividend.