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TravelCenters Of America LLC Announces Second Quarter 2012 Results

RESULTS THAT DIFFER FROM THOSE STATED OR IMPLIED BY TA’S FORWARD LOOKING STATEMENTS MAY ALSO BE CAUSED BY VARIOUS CHANGES IN TA’S BUSINESS OR MARKET CONDITIONS, AS DESCRIBED MORE FULLY IN TA’S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2011, UNDER “WARNING CONCERNING FORWARD LOOKING STATEMENTS,” AND “RISK FACTORS” AND UNDER “WARNING CONCERNING FORWARD LOOKING STATEMENTS” AND ELSEWHERE IN TA’S QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2012. COPIES OF THAT TA ANNUAL REPORT ARE AVAILABLE, AND COPIES OF THAT TA QUARTERLY REPORT WILL BE AVAILABLE, AT THE WEBSITE OF THE U.S. SECURITIES AND EXCHANGE COMMISSION: WWW.SEC.GOV.

YOU SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS. EXCEPT AS REQUIRED BY LAW, TA UNDERTAKES NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

TRAVELCENTERS OF AMERICA LLC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except per share data)
 
 
  Three Months Ended June 30,
2012 2011
Revenues:
Fuel $ 1,689,007 $ 1,762,020
Nonfuel 348,743 329,508
Rent and royalties   3,757   3,429
Total revenues 2,041,507 2,094,957
 
Cost of goods sold (excluding depreciation):
Fuel 1,592,870 1,676,236
Nonfuel   154,414   142,345
Total cost of goods sold (excluding depreciation) 1,747,284 1,818,581
 
Operating expenses:
Site level operating 176,088 171,183
Selling, general & administrative 24,366 22,206
Real estate rent 49,364 47,827
Depreciation and amortization   12,388   11,007
Total operating expenses   262,206   252,223
 
Income from operations 32,017 24,153
 
Equity in income of equity investees 662 396
Acquisition costs (316 ) (446 )
Interest income 360 172
Interest expense (2,482 ) (2,216 )
       
Income before income taxes 30,241 22,059
Provision for income taxes   389   231
Net income $ 29,852 $ 21,828
 
Net income per share:
Basic and diluted $ 1.04 $ 1.00
Weighted average shares outstanding:
Basic and diluted (1)   28,795   21,883
 

(1) Includes unvested shares granted under our share award plan.

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