In the news release, International Speedway Reports Results for the First Quarter of Fiscal 2007, issued earlier today by International Speedway Corporation over PR Newswire, the values for the line item "Property and Equipment, net of accumulated depreciation of $371,219 and $388,222, respectively" in the Consolidated Balance Sheets table were omitted by PR Newswire. The corrected table follows. Consolidated Balance Sheets (In Thousands) November 30, February 28, 2006 2007 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $59,681 $98,626 Short-term investments 78,000 200 Receivables, less allowance of $1,000 in 2006 and 2007 52,699 122,346 Inventories 3,976 6,583 Deferred income taxes 995 1,125 Prepaid expenses and other current assets 8,251 16,373 Total Current Assets 203,602 245,253 Property and Equipment, net of accumulated depreciation of $371,219 and $388,222, respectively 1,157,313 1,302,453 Other Assets: Equity investments 175,915 129,623 Intangible assets, net 149,314 195,070 Goodwill 99,507 99,507 Deposits with Internal Revenue Service 110,813 117,936 Other 25,595 27,849 561,144 569,985 Total Assets $1,922,059 $2,117,691 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current portion of long-term debt $770 $2,584 Accounts payable 29,577 23,012 Deferred income 124,254 197,413 Income taxes payable 22,477 31,651 Other current liabilities 19,226 23,445 Total Current Liabilities 196,304 278,105 Long-Term Debt 367,324 441,641 Deferred Income Taxes 191,642 196,308 Long-Term Deferred Income 10,808 16,075 Other Long-Term Liabilities 866 4,663 Commitments and Contingencies - - Shareholders' Equity: Class A Common Stock, $.01 par value, 80,000,000 shares authorized; 31,078,307 and 31,011,622 issued and outstanding at November 30, 2006 and February 28, 2007, respectively 311 310 Class B Common Stock, $.01 par value, 40,000,000 shares authorized; 22,100,263 and 21,963,363 issued and outstanding at November 30, 2006 and February 28, 2007, respectively 221 220 Additional paid-in capital 698,396 688,363 Retained earnings 456,187 492,006 Total Shareholders' Equity 1,155,115 1,180,899 Total Liabilities and Shareholders' Equity $1,922,059 $2,117,691 DATASOURCE: International Speedway Corporation Web site: http://www.iscmotorsports.com/

Copyright