Speedway Motorsports revenues drop nearly 10 percent in 2009
2 Comments Published March 10th, 2010 in NASCAR News
Speedway Motorsports Inc.’s overall revenue declined by 9.9 percent in 2009, including a 13.3 percent drop in ticket revenue, according to a filing with the U.S. Securities and Exchange Commission.
Speedway Motorsports Inc., finished 2009 with a balance sheet showing a $10.3 million loss, while its income from continuing operations was $74.9 million, down 28.2 percent from $104.3 million last year, according to the filing.
Part of the difference comes from a $74.5 million devaluation of Motorsports Authentics, the struggling merchandise company that SMI co-owns with rival International Speedway Corp. Both companies now consider Motorsports Authentics to have no carrying value.
they shouldn’t feel bad…many of our incomes have been cut and we’re the lucky ones…many have lost their jobs and have no income…
Werner this is true. Everyone has taken a loss and some of us more than others. The only ones making money are companies like utility companies and oil barons.