Speedway Motorsports (TRK) Reports In-Line Q4 EPS
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Speedway Motorsports Reports Results for Fourth Quarter and Year Ended December 31, 2016 and Provides Full Year 2017 Guidance
March 1, 2017 6:31 AM ESTCONCORD, N.C.--(BUSINESS WIRE)-- Speedway Motorsports, Inc. (SMI) (NYSE: TRK) today reported fourth quarter 2016 total revenues of $82.6 million, and net income and adjusted non-GAAP net income of $271,000 or $0.01 per diluted share. Full year 2016 total revenues were $512.2 million, net income was $39.5 million or $0.96 per diluted share, and adjusted non-GAAP net income was $39.2 million or $0.95 per diluted share. These results were within managements expectations. SMI also provided full year 2017 non-GAAP earnings guidance of $0.90 to $1.10 per diluted share as further described below. Non-GAAP items are further discussed and reconciled with comparable GAAP amounts below.
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