Motorsports Authentics reports 2007 losses

Motorsports Authentics reports 2007 losses

Struggling merchandise company Motorsports Authentics lost $42,975,000 for the fiscal year ending Nov. 30, 2007, according to an annual financial statement International Speedway Corp. has filed with the Securities and Exchange Commission. ISC and its track-operating rival, Speedway Motorsports Inc., own 50 percent each of the Motorsports Authentics. The two companies also split an additional “impairment charge” - a write-down in the value of the company - by $69,499,000. Before ISC’s filing with the SEC, it had been estimated that Motorsports Authentics would lose between $40 million and $50 million. The remainder of the annual financial filing contains mostly previously announced financial information. SceneDaily.com Bookmark to:

Date: February / 1 / 2008
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