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TravelCenters Of America LLC Announces Third 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 SEPTEMBER 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 September 30,
2012   2011
Revenues:
Fuel $ 1,666,810 $ 1,734,621
Nonfuel 363,402 348,790
Rent and royalties   3,941   3,874
Total revenues 2,034,153 2,087,285
 
Cost of goods sold (excluding depreciation):
Fuel 1,581,830 1,653,299
Nonfuel   164,017   152,780
Total cost of goods sold (excluding depreciation) 1,745,847 1,806,079
 
Operating expenses:
Site level operating 179,737 176,274
Selling, general & administrative 25,577 22,360
Real estate rent 49,185 48,202
Depreciation and amortization   12,874   11,770
Total operating expenses   267,373   258,606
 
Income from operations 20,933 22,600
 
Equity in income of equity investees 801 497
Acquisition costs (189

)

 

Interest income 512 319
Interest expense (2,638

)

 

(2,364 )
       
Income before income taxes 19,419 21,052
Provision for income taxes   429   259
Net income $ 18,990 $ 20,793
 
Net income per share:
Basic and diluted $ 0.66 $ 0.74
Weighted average shares outstanding:
Basic and diluted (1)   28,810   28,053

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

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