Texas Pacific Land Trust Fourth Quarter Earnings Release (Unaudited)
Texas Pacific Land Trust (NYSE:TPL):
TEXAS PACIFIC LAND TRUST REPORT OF OPERATIONS - UNAUDITED Three Months Ended December 31, 2008 December 31, 2007 Rentals, royalties and other income $ 3,019,609 $ 4,129,382 Land sales -- 75,000 Total income $ 3,019,609 $ 4,204,382 Provision for income tax $ 474,804 $ 1,016,949 Net income $ 1,197,880 $ 2,170,989 Net income per sub-share $ .12 $ .21 Average sub-shares outstanding during 10,272,592 10,502,208 period Year Ended December 31, 2008 December 31, 2007 Rentals, royalties and other income $ 18,701,572 $ 13,902,447 Land sales 823,440 1,932,664 Total income $ 19,525,012 $ 15,835,111 Provision for income tax $ 4,597,891 $ 3,628,026 Net income $ 10,939,773 $ 8,249,688 Net income per sub-share $ 1.06 $ .78 Average sub-shares outstanding during 10,354,408 10,536,367 period
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.
Source: Texas Pacific Land Trust
Released January 30, 2009