Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)
* Reuters is not responsible for the content in this press release.
DALLAS--(Business Wire)--
Texas Pacific Land Trust (NYSE:TPL):
TEXAS PACIFIC LAND TRUST
REPORT OF OPERATIONS - UNAUDITED
Three Months Ended
June 30, 2009 June 30, 2008
Rentals, royalties and other income $ 3,736,877 $ 5,243,698
Land sales 523,010 192,000
Total income $ 4,259,887 $ 5,435,698
Provision for income tax $ 1,079,902 $ 1,530,888
Net income $ 2,428,849 $ 3,217,622
Net income per sub-share $ .24 $ .31
Average sub-shares outstanding during period 10,092,773 10,432,250
Six Months Ended
June 30, 2009 June 30, 2008
Rentals, royalties and other income $ 5,602,954 $ 9,832,185
Land sales 523,010 639,040
Total income $ 6,125,964 $ 10,471,225
Provision for income tax $ 1,531,280 $ 2,779,091
Net income $ 3,191,001 $ 6,148,379
Net income per sub-share $ .32 $ .59
Average sub-shares outstanding during period 10,120,410 10,447,546
This news release may contain forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995.Forward-looking statements
include statements regarding the Trust's future operations and prospects, the
markets for real estate in the areas in which the Trust owns real estate,
applicable zoning regulations, the markets for oil and gas, production limits on
prorated oil and gas wells authorized by the Railroad Commission of Texas,
expected competition, management's intent, beliefs or current expectations with
respect to the Trust's future financial performance and other matters.We assume
no responsibility to update any such forward-looking statements.
Texas Pacific Land Trust
Roy Thomas, 214-969-5530
General Agent & Chief Executive Officer
Copyright Business Wire 2009
http://www.businesswire.com/news/home/20090730005689/en
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
Follow Reuters