Additional information concerning factors that could cause our forward-looking statements not to occur is contained in our filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance upon any forward-looking statements. The recording and retransmission of today's conference call is strictly prohibited without the written consent of TravelCenters.
Now, I will turn the call over to Tom O'Brien.
Thomas M. O'Brien
Good morning, and thank you for joining our call today. Our results for the 2012 first quarter continued our trend of year-over-year improvements. As expected, we generated a seasonal net loss for the first quarter of 2012 that was $14 million or about $0.49 per share.An important thing to note is that this loss represents a $2.4 million or $0.43 per share improvement from the net loss we realized for the first quarter of 2011. Importantly, our 2012 first quarter EBITDAR was $49.7 million, an increase of $5 million or 12% over the 2011 quarter. EBITDAR exceeded our rent expense in the 2012 first quarter versus a shortfall in that measure of nearly $3 million in the 2011 period. During the last 12 months ended March 31, 2012, our net income was $26 million, a $68 million increase over the 12 months ended March 31, 2011. We believe the improved results we achieved for the first quarter of 2012 result from the travel centers we added to our business during 2011, the capital investments we've made in our properties and our industry-leading customer service. Our nonfuel sales, in particular, were strong versus the prior year and I believe that this is because our full service model and focus on customer service strikes a chord with our customers. Our trucking company customers businesses appear to be growing, albeit, slowly in some cases and I believe they're focused more than ever on driver satisfaction and on maximizing miles per truck. I believe our full-service travel center provides customers with the best opportunity among all travel centers to positively impact these and other aspects of their business.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts