
	March 31(a)		June 30		September 30(b)		December 31(c)
Year Ended December 31, 2018
Revenues	$	226,000	$	25,812,000	$	227,000	$	20,751,000
Operating (loss) earnings	$	(1,246,000)	$	8,954,000	$	(4,062,000)	$	5,911,000
Net (loss) earnings	$	(992,000)	$	6,508,000	$	(2,699,000)	$	4,072,000
Net (loss) earnings per share — basic and diluted	$	(0.03)	$	0.18	$	(0.07)	$	0.11

Year Ended December 31, 2017
Revenues	$	110,000	$	25,587,000	$	2,740,000	$	18,305,000
Operating (loss) earnings	$	(4,071,000)	$	8,868,000	$	(3,382,000)	$	5,364,000
Net (loss) earnings	$	(2,405,000)	$	5,203,000	$	(2,015,000)	$	7,643,000
Net (loss) earnings per share — basic and diluted	$	(0.07)	$	0.14	$	(0.06)	$	0.21

(a)

In the first quarter of 2018, we closed on the sale of land at our Nashville Superspeedway facility resulting in a gain of $2,512,000 ($1,984,000 after income taxes). See NOTE 1 — Business Operations.

In the first quarter of 2017, we recorded costs to remove long-lived assets of $286,000 ($167,000 after income taxes) related to the removal and disposal of certain grandstand seating. See NOTE 3 — Property and Equipment.

(b)

In the third quarter of 2018, we entered into negotiations to sell a parcel of land we own near St. Louis. As a result, we recorded a loss of $99,000 ( $76,000 after income taxes) on sale of land. See NOTE 3 — Property and Equipment.

(c)

In the fourth quarter of 2017, we made the decision to not complete certain facility improvements. Costs previously capitalized of $186,000 ($110,000 after income taxes) were charged to depreciation expense. See NOTE 3 — Property and Equipment.

In the fourth quarter of 2017, the passage of the Tax Cuts and Jobs Act lowered our future federal income tax rate to 21% requiring us to revalue net deferred federal tax liabilities. As a result, net earnings and net earnings per share — basic and diluted increased by $4,531,000 and $0.13, respectively. See NOTE 6 — Income Taxes.