Scott,
The TV comparative numbers I provided were from Winston Cup races televised on those 3 networks. I'm sorry if I wasn't clear.
As for Action's previous history of making statements then revising them, management had suggested that the July 4th Daytona race was going to be huge. Trackside, which normally averages $1 million per race, was going to much farther north of that number. CBS prime-time telecast was going to drive further club membership growth and sales. And, the Bobby Labonte "Small Soldiers" promotion for the film's release was going to bring $$$ to Action for the prime time publicity.
Unfortunately, the race was cancelled and rescheduled, the DreamWorks promotion was cancelled, the July 4th specific apparel had to be liquidated, the race was rescheduled for an October daytime race (with two Florida college football teams playing at home) and the prime-time broadcast moves to TNN. All and all a disaster for most companies. But not for Action!! What initially was described as a $10 million event quickly became a $3-4 million event that management suggested would see most all the revenues move from the current quarter to the first quarter of the next fiscal year. Recently, when asked to quantify the revenues from the cancelled event, Fred Wagenhals said it meant about $750,000 in revenues that moved out of the quarter and into the next quarter.
If you want to own a company that so blithely makes up numbers, then be my guest.
Tokyo |
