Speedway Motorsports earnings up 17%

Atlanta Motor Speedway owner Speedway Motorsports Inc. on Wednesday reported a 17 percent increase in second-quarter earnings to $47 million, or $1.08 a share.

The Concord, N.C.-based promoter of motorsports entertainment posted earnings of $40.3 million, or 92 cents a share, in the year-ago period.

Revenue in the latest quarter grew to $212.8 million from $180.8 million a year earlier.

The company attributed its increased earnings to successful NASCAR Sprint Cup and Nationwide Series racing events at New Hampshire Motor Speedway, which it acquired in January, and significantly improved operating results of Motorsports Authentics, Speedway Motorsports’ merchandising joint venture with International Speedway Corp. (NASDAQ:ISCA) of Florida.

In addition, Bristol Motor Speedway hosted a successful National Hot Rod Association racing event in the second quarter of this year. It was held in the third quarter last year.