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8.26.11 WKA Finance Update

8.26.11 WKA Finance Update. Financial History 2010 Results 2011 YTD Results Income Sources Operational Changes. Financial History. What Happened in 2010?. Road America Event Road race entries down 200 from 2009 = $37k loss NRRS race Dirt & Pavement Series

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8.26.11 WKA Finance Update

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  1. 8.26.11 WKA Finance Update • Financial History • 2010 Results • 2011 YTD Results • Income Sources • Operational Changes

  2. Financial History

  3. What Happened in 2010? • Road America Event • Road race entries down 200 from 2009 = $37k loss NRRS race • Dirt & Pavement Series • Increased costs to run Dirt program 2010, $37k loss • Pavement down 400 entries from 2009 = $10k loss • Legal Expenses • Legal actino $47k • Magazine • $54k loss for WKA Inc. (magazine operation) • Overall $200k lower revenue in 2010 and $15k more in expenses

  4. Revenue Sources: Dec – May 2011

  5. Expense Items: Dec – May 2011 Nat’l Race Expense

  6. Other Revenue & Expense Detail* *Material categories only, rounded

  7. 2010 Series Results

  8. Operational Dashboard History *Sponsorship revenue spread evenly throughout year, includes 7 months **11 of 22 national events complete as of 6/30/11

  9. Financial History in Summary • Improved net income, despite significant revenue decreases 2008-2009 • 2005 $2.6 million total revenue • 2006 $2.1m • 2007-2009 $1.9m • 2010 $1.65m ($1m lost revenue in 5 years) • Despite $1m lost revenue, $200k improvement to bottom line • Significant operational learning and change decisions: • Contract rewrites • Corrected pricing • Long-term sponsor relationships • “Magazine” transformation • Organizational changes • Awards appropriation

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