The charge was within the anticipated range of $25 million to $50 million. A $3.9 million impairment charge in the fourth quarter is attributable to additional fill removal costs on the Staten Island property and the net book value of assets retired from service.

Non-GAAP diluted earnings per share of $1.19 in last year quarter were stronger compared with current quarter earnings per share of $1.11.

Interest income for the quarter dropped to $1.3 million whilst interest expense increased to $3.8 million due to lower capitalized interest plus interest inherited from the RA acquisition.

The drop in interest income was a result of lower cash balances as the company committed funds towards the share repurchase program in fiscal 2007.

NASCAR direct expenses decreased to $50 million during the quarter.

This was a result of lower television broadcast rights fees.

Motorsports related expense was higher at $45.8 million in the fourth quarter caused by consolidation of RA. RA, together with costs related to ongoing business, again was the main factor for the increase in general and administrative expenses to $28.9 million for the quarter.

On the food-beverage-merchandise front, expenses fell to $15 million for the quarter caused by attendance related variable costs and margin improvements in several areas of the business.

Depreciation and amortization for the quarter increased to $17.2 million.

The increase was mainly driven by acquisition of RA and depreciation associated with the Daytona Live project.

The company reported that $117.9 million had been deposited with the Internal Revenue Service, IRS, by quarter end.

The deposit was to cover for requested downward adjustments to the company’s reported fiscal 1999 through 2005 Federal Tax Depreciation deductions. The amount included interest related to federal adjustments and, assuming no compromise in the appeals process, the company projects a combined after tax cash flow from additional federal adjustments for fiscal 2006 and related state revisions for all periods to range between $30 million and $40 million.

Management emphasized that while deposits made with the IRS are not considered as tax payments, they prevent the company from an additional interest expense that would be charged at higher rates. The company expects to benefit from interest payments on funds returned.

Effective tax rate for the quarter increased to 58.2% driven by tax treatment associated with losses of MA. The guidance rate for 2008 is 39%.

During the fourth quarter, the company repurchased 646,000 Class A common stock for $30 million out of an authorized figure of $150 million.

The cumulative number of repurchased shares from December 2006 to November 2007 is now 1.6 million. The company spent an estimated $81 million during the year and the balance currently stands at $69 million. The management is also evaluating possibilities of expanding the repurchase program beyond the current authorization level.

The United States District Court in Kentucky ruled in favor of the company on the civil anti-trust action raised by Kentucky Speedway against ISCA and NASCAR.

The company views the ruling as reaffirming the validity of a business model that has hugely benefited the sport as well as the fans.

The ruling also puts an end to any question concerning locations and dates on which NASCAR can run its races. Despite the expected Kentucky Speedway appeal against the court ruling, the company is confident of ultimate success.

The company continues to make strides in various growth initiatives.