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Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)

Texas Pacific Land Trust (NYSE:TPL):

REPORT OF OPERATIONS - UNAUDITED
   

Three Months Ended
 

June 30, 2012

June 30, 2011
 
Rentals, royalties and other income $ 6,463,991 $ 5,118,487
 
Land sales   2,242,747   3,680,500
 
Total income $ 8,706,738 $ 8,798,987
 
Provision for income tax $ 2,671,435 $ 2,596,622
 
Net income $ 5,284,674 $ 5,415,929
 
Net income per sub-share $ .59 $ .58
 
Average sub-shares outstanding during period 9,025,506 9,432,205
 

Six Months Ended
 

June 30, 2012

June 30, 2011
 
Rentals, royalties and other income $ 12,477,070 $ 10,327,095
 
Land sales   5,809,747   4,192,000
 
Total income $ 18,286,817 $ 14,519,095
 
Provision for income tax $ 5,511,466 $ 4,122,546
 
Net income $ 11,222,929 $ 8,775,498
 
Net income per sub-share $ 1.24 $ .93
 
Average sub-shares outstanding during period 9,057,829 9,460,805
 
 

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.

Copyright Business Wire 2010

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