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TravelCenters Of America LLC Announces Second Quarter 2011 Results

Stocks in this article: TA

TravelCenters of America LLC (NYSE Amex: TA) today announced financial results for the three and six months ended June 30, 2011.

At June 30, 2011, TA’s business included 234 sites, 166 of which were operated under the “TravelCenters of America” or “TA” brand names, 65 of which were operated under the “Petro” brand name and three sites TA recently acquired which TA is operating under their existing brands and that TA plans to rebrand as TA or Petro sites.

     

Three Months Ended June 30,

 

Six Months Ended June 30,

2011   2010 2011   2010
 
(in thousands, except per share, per gallon and percentage amounts)
Revenues $ 2,094,957 $ 1,504,491 $ 3,877,071 $ 2,888,110
Net income (loss) $ 21,667 $ 1,173 $ 4,928 $ (40,043 )
 
Net income (loss) per share:
Basic and diluted $ 0.99 $ 0.07 $ 0.25 $ (2.32 )
 
Supplemental Data:
Total fuel sales volume (gallons) 529,570 507,573 1,030,435 1,010,772
Total fuel revenues $ 1,762,020 $ 1,200,688 $ 3,255,306 $ 2,319,257
Fuel gross margin $ 85,784 $ 74,712 $ 146,662 $ 124,945
Total fuel gross margin per gallon $ 0.162 $ 0.147 $ 0.142 $ 0.124
 
 
Total nonfuel revenues $ 329,508 $ 300,423 $ 614,886 $ 562,182
Nonfuel gross margin $ 187,163 $ 174,968 $ 352,318 $ 326,423
Nonfuel gross margin percentage 56.8 % 58.2 % 57.3 % 58.1 %
 
EBITDAR $ 82,937 $ 75,790 $ 127,461 $ 108,974

A calculation of earnings before interest, taxes, depreciation, amortization and rent, or EBITDAR, from net income (loss) determined according to U.S. generally accepted accounting principles, or GAAP, appears later in this press release.

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