International Speedway Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended November 30, 2016. Total revenues for the fourth quarter ended November 30, 2016 were approximately $221.8 million, compared to revenues of approximately $219.3 million in the fourth quarter of fiscal 2015. Operating income was $51.2 million during the period compared to approximately $51.9 million in the fourth quarter of fiscal 2015. Income before income taxes was $52.2 million against $52.0 million reported last year. Net income for the fourth quarter was $32.4 million, or $0.72 per share, compared to net income of $32.2 million, or $0.69 per diluted share, in the prior year period. Non-GAAP net income for the fourth quarter of 2016 was $32.83 million, or $0.72 per share. Non-GAAP net income for the fourth quarter of fiscal 2015 was $34.39 million, or $0.74 per share. Income before taxes was $52,243,000 compared to $52,072,000 a year ago. Non-GAAP income before taxes of $52,884,000 compared to $55,545,000 a year ago.

For the year ended November 30, 2016, total revenues were $661.01 million, compared to $645.3 million in 2015. Operating income for the full-year period was $109.8 million compared to $85.57 million in the prior year. Income before income taxes was $124.1 million against $90.9 million reported last year. Net income for the year-ended November 30, 2016, was $76.3 million, or $1.66 per diluted share compared to a net income of $56.6 million, or $1.21 per diluted share in 2015. Non-GAAP net income for fiscal 2016, was $68.0 million, or $1.48 per share. This is compared to non-GAAP net income for fiscal 2015 of $67.2 million, or $1.44 per share. Net cash provided by operating activities was $245.9 million against $152 million reported last year. Capital expenditures were $140.8 million against $155.0 million reported last year. Income before taxes was $124,069,000 compared to $90,942,000 a year ago. Non-GAAP income before taxes of $110,624,000 compared to $108,444,000 a year ago. Net cash provided by operating activities was $245,888,000 compared to $151,987,000 a year ago.

For fiscal 2017, the company anticipates total revenues to range between $660.0 million and $670.0 million. EBITDA margin to range between 31.5% and 32.5% of total revenues. The company expects 2017 operating margin to range between 15.5% and 17.0%. Effective tax rate will be approximately 38.0% to 38.5%. Diluted earnings per share to be in the range of $1.50 to $1.65. The company's guidance for EBITDA is estimated to range between $208.0 million and $218.0 million. Net interest expense on a non-GAAP basis, excluding capitalized interest related to Phoenix Redevelopment and ONE DAYTONA projects, is estimated to be between $15.0 million to $15.5 million on a non-GAAP basis. For fiscal 2017, The company expects capital expenditures associated with the $500.0 million capital expenditure plan to range between $100.0 million and $115.0 million, which includes commencement of construction for the Phoenix Redevelopment project.