The Company provides souvenir merchandising services through its SMI Properties subsidiaries; manufactures and distributes smaller-scale, modified racing cars and parts through its US Legend Cars International subsidiary; and produces and broadcasts syndicated motorsports programming to radio stations nationwide through its Performance Racing Network subsidiary.20 per diluted share as further described below.300.1 million, payable on March 15, 2018 to shareholders of record as of March 1, 2018. Fourth Quarter Comparison Total revenues of $76.28-mile ROVAL – our sport’s first combined superspeedway and infield road course.2 million or $3.12 per diluted share in 2017, and $357,000 pre-tax, $225,000 after-tax or $0. Full year 2017 total revenues were $453.01Impairment of goodwill, pre-tax–0.91)- (2.01 per diluted share in 2016 Impairment charge for goodwill of $1.96 per diluted share in 2016Adjusted non-GAAP net income of $37.91 per diluted share in 2017, and $546,000 or $0.4 million or $2.4 million in 2017 compared to $79. Many areas feature premium hospitality services, and are similar to high end & China DC Motors Suppliers x2018;taverns’ or ‘pubs’, close to our restart zones, with outdoor decks and nearby solar equipment as part of our ‘green initiatives’.77 per diluted share, and an adjusted non-GAAP net loss of $907,000 or $0.02)$0.01 per diluted share in 2016 Accelerated depreciation and removal costs on retired assets aggregating $12.7 million or $2.2 million for the three months and full year ended December 31, 2017.01$3. The following schedule reconciles those non-GAAP financial measures to their most directly comparable information presented using GAAP. Three Months EndedDecember 31:Full Year EndedDecember 31: 2017 2016 2017 2016Net income using GAAP$113,663$271$148,245$39,545Non-recurring benefits of income tax law changes (119,449)- (119,449)(546)Accelerated depreciation on retired assets and costs of removal, pre-tax 7,765-12,362357Impairment of goodwill, pre-tax –1,117-Aggregate income tax effect of non-GAAP adjustments(2,886)- (5,005)(132)Non-GAAP net (loss) income $(907)$271$37,270$39,224Diluted earnings per share using GAAP$2. Bruton Smith, Executive Chairman of Speedway Motorsports stated, “We continue to capitalize on our first class facilities in premium markets. Smith, Chief Executive Officer and President of Speedway Motorsports.91$0.01)Accelerated depreciation on retired assets and costs of removal, pre-tax 0. As of December 31, 2017, the Company has repurchased 4,809,000 shares since adoption of the program in April 2005, and the total number of shares available for future repurchase then authorized was 191,000.28-mile ROVAL combined superspeedway and infield road course – another industry first by SMI.20, excluding non-recurring and other special items. This non-GAAP financial information is not intended to be considered independent of or a substitute for results prepared in accordance with GAAP.01 per diluted share in 2016Net income of $113.77 per diluted share in 2017 compared to $271,000 or $0.The amounts for NASCAR broadcasting revenue and NASCAR event management fees were revised by $3.77$0.03-Aggregate income tax effect of non-GAAP adjustments(0. Our expanding marketing efforts to broaden the use of our first class facilities continue to be reflected in strong revenue streams from track rentals and certain non-motorsports activities. Comparable amounts were $3. Our 2017 GAAP results reflect a non-recurring material income tax benefit # from the federal Tax Cuts and Jobs Act enacted in December 2017. “Seven events during our 13 NASCAR Cup race weekends in 2017 were negatively impacted, with our Charlotte Motor Speedway contending with another October hurricane – Nate this past year and Matthew the year before. These components and other factors could significantly impact the amount of the future directly comparable GAAP measures, which may differ significantly from their non-GAAP counterparts. Amounts below are in thousands except per share amounts.5 million or $0. The Company recorded associated non-cash, pre-tax charges for accelerated depreciation and costs of removal in the fourth quarter and full year 2017. We have not reconciled non-GAAP forward-looking earnings per diluted share to its most directly comparable GAAP measure, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. Also, Charlotte Motor Speedway is hosting NASCAR Monster Energy Cup and Xfinity Series races on its new 2.01 per diluted share in 2016Adjusted non-GAAP net loss of $907,000 or $0. Management uses the non-GAAP information to assess the Company’s operations for the periods presented, analyze performance trends and make decisions regarding future operations because it believes this separate information better reflects ongoing operating results. The Company’s admissions, certain event related revenues and operating costs were negatively impacted by poor weather for an unusually high number of major events surrounding its thirteen NASCAR racing weekends (7 in 2017 and 8 in 2016).15 per share of common stock aggregating $6.” “SMI’s multi-year contracted revenue streams remain substantial, with our largest being the ten-year NASCAR broadcasting agreements through 2024, along with our growing NASCAR ancillary broadcasting rights revenues,” continued Mr. This non-GAAP financial information may not be comparable to similarly titled measures used by other entities and should not be considered as alternatives to net income or loss, or diluted earnings or loss per share, determined in accordance with GAAP.4 million or $2., March 07, 2018 (GLOBE NEWSWIRE) — Speedway Motorsports, Inc.6 million, net income was $148. “Most of our NASCAR event sponsorships for 2018, and many for several years beyond, are already sold.02 per diluted share. The revision had no impact on net income or loss, earnings or loss per share, balance sheet data or cash flows.6 million in 2017 compared to $489.61 per diluted share, and adjusted non-GAAP net income was $37. During the full year 2017, the Company repurchased 251,000 shares of its common stock for approximately $5. Dividends and Stock Repurchase ProgramDuring the full year 2017, the Company declared and paid cash dividends of $0. The Board of Directors plans to continue to evaluate cash dividends on a quarterly basis in the future. These and other non-GAAP items are further discussed and reconciled with comparable GAAP amounts below. In connection with preparing its financial statements, the Company determined it should exclude the broadcast rights fees that NASCAR retains for itself (10%) from both broadcasting revenue and related event management fees.96 Non-recurring benefits of income tax law changes (2. Significant 2017 Fourth Quarter Racing Events Charlotte Motor Speedway – NASCAR Bank of America 500 Monster Energy Cup and Drive for the Cure 300 Xfinity Series racing eventsLas Vegas Motor Speedway – NHRA Toyota Nationals racing eventTexas Motor Speedway – NASCAR AAA Texas 500 Monster Energy Cup, O’Reilly Auto Parts 300 Xfinity, and JAG Metals 350 Camping World Truck Series racing events 2018 Earnings GuidanceThe Company estimates full year 2018 total revenues of $450-475 million, net income of $41-49 million, depreciation, amortization and interest expense of $65-70 million, and non-GAAP diluted earnings per share of $1. The comparative presentation of broadcasting revenues and related costs now excludes the portion retained by NASCAR.5 million in 2016 Non-recurring benefits of income tax law changes of $119. Smith.4 million in the three months and full year ended December 31, 2016. Moreover, our long-term strategic initiatives are successfully building financial strength through steady share repurchases, dividend programs, ongoing debt reduction, and restrained capital spending – and which should benefit from lower cash taxes under the recently enacted federal Tax Cuts and Jobs Act.3 million or $0.01$0.01 per diluted share in 2016 Full Year Comparison Total revenues of $453.2 million and $23. Inclement weather, potential higher fuel, health-care and food costs and continuing underemployment could significantly impact our future results.” O.07)-(0. And in September 2018, we are proudly conducting NASCAR Monster Energy Cup and Xfinity Series racing events on Charlotte Motor Speedway’s new 2.00-1. However, excluding those results, SMI’s 2017 full year adjusted non-GAAP net income increased over 2016. These non-GAAP results were within management’s expectations. Las Vegas Motor Speedway is hosting new NASCAR Monster Energy Cup, Xfinity and Camping World Truck Series races in September 2018, and is expanding ‘The Strip at Las Vegas Motor Speedway’ into a distinctive, lighted exciting ‘four lane’ racing configuration. To modernize our facilities for fan enhancements and alternative marketing purposes, the Company is repurposing select seating and other areas at our Atlanta, Charlotte, Kentucky, Las Vegas and New Hampshire Motor Speedways. Recent efforts include expanded ‘tavern or pub-like’ social gathering areas, premium food and beverage choices, the latest in digital and mobile phone applications, and enhanced use of our three huge high-definition video boards at Bristol, Charlotte and Texas Motor Speedways.91 per diluted share. Such reconciliations would require unreasonable efforts to estimate and quantify various necessary GAAP components largely because, as indicated by our relatively wide range of earnings guidance, forecasting or predicting our future operating results is subject to many factors out of our control or not readily predictable.4 million pre-tax, $7.2 million or $3.95 per diluted share in 2016 Non-GAAP Financial Information and ReconciliationNet income or loss, and diluted earnings or loss per share, as adjusted and set forth below are non-GAAP (other than generally accepted accounting principles) financial measures presented as supplemental disclosures to their individual corresponding GAAP basis amounts.7 million. The Company’s 2017 full year non-GAAP results are not directly comparable to last year primarily because of “the Battle at Bristol” football game and large preceding concert held in the third quarter 2016.95 The Company’s fourth quarter and full year 2017 GAAP results reflect a non-recurring material income tax benefit from the federal Tax Cuts and Jobs Act enacted in December 2017.91 per diluted share in 2017 Accelerated depreciation and removal costs on retired assets aggregating $7. We believe many fans will find such racing unique and exciting, providing increased racing competition and desirable sightlines, and possibly setting the stage for similarly configured racing at other motorsport facilities. Along with new formats for awarding championship points, and other ongoing NASCAR enhancements to on-track competition, these are some of the most exciting and promising changes in recent years. We are striving more than ever to provide our long-time loyal and next generation race fans with superior, enjoyable entertainment experiences that cannot be duplicated at home or other venues.3 million or $0.02 per diluted share in 2017 compared to adjusted non-GAAP net income of $271,000 or $0. Our sport is introducing new and exciting broadcasters, along with young, appealing race car drivers with great potential ‘star-power’.02 per diluted share in 2017Net income of $148.” Mr. .12)(0.7 million in 2016 Non-recurring benefits of income tax law changes of $119. NASCAR’s introduction of the exciting stage-based race format for all three of NASCAR’s national series has been extremely well received by fans and drivers.8 million pre-tax, $4. SMI also provided full year 2018 non-GAAP earnings guidance of $1.91)(0.2 million and $22.” Speedway Motorsports is a leading marketer and promoter of motorsports entertainment in the United States.7 million or $2.00 to $1.19-0.8 million after-tax or $0. The Company’s estimated total capital expenditures in 2018 are $20-30 million. Management believes many revenue categories continue to be negatively impacted by changing demographics, evolving media content consumption, as well as the lingering effects of uncertain consumer and corporate spending, and underemployment in certain demographic groups.19 per diluted share in 2017 compared to $357,000 pre-tax, $225,000 after-tax or $0. Those 2016 football weekend results are not reflected as non-GAAP adjustments in the accompanying financial results. Smith continued, “SMI, NASCAR, the broadcasters, along with industry stakeholders, remain more focused than ever on capturing the next generation of new race fans.91 per diluted share in 2017 compared to $39.9 million after-tax or $0. In February 2018, the number of authorized shares for repurchase was increased by 1,000,000 for a plan aggregate now of up to 6,000,000 shares. On February 12, 2018, the Company’s Board of Directors declared a quarterly cash dividend of $0. Our business model, and such long-term strategic actions, is providing SMI with many opportunities for increasing long-term profitability. (SMI) (NYSE:TRK) today reported fourth quarter 2017 total revenues of $76. For 2018, we are excited about offering our fans and corporate customers new unique, modern fan-zone entertainment areas at several of our speedways. Such factors include weather conditions surrounding our events, the seasonal popularity or success of NASCAR racing in general, the impact of geopolitical factors on travel plans and spending sentiment, and fluctuating costs of food, gas, health-care and other basic necessities, any or all of which can significantly impact our future results.61 per diluted share in 2017 compared to $39.2 million or $0.15 per share of common stock each quarter for a combined aggregate of $24.4 million, net income of $113. The range of earnings guidance reflects the lingering effects of uncertain economic conditions, among other factors. The Company, through its subsidiaries, owns and operates the following premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway.0 million under its stock repurchase program. SMI continues to significantly invest in modern, premium amenities and technology. We are extremely excited about showcasing them in 2018, and believe our fans will be as well. Management believes such non-GAAP information is useful and meaningful to investors and helps in understanding, using and comparing the Company’s operating results.1 million pre-tax, $698,000 after-tax or $0.00)Non-GAAP diluted (loss) earnings per share$(0.61$0. We all realize that most sports and sporting venues, including our own, face ongoing challenges of changing demographics and media content consumption.C. Individual quarterly per share amounts may not be additive due to rounding. The Company is attempting to schedule similar events in the future. Comments “SMI’s full year 2017 non-GAAP results were within our expectations, but we had poor weather again at an unusually high number of our events,” stated Marcus G.