Texas Pacific Land Trust Fourth Quarter Earnings Release (Unaudited)

Texas Pacific Land Trust (NYSE:TPL):

REPORT OF OPERATIONS - UNAUDITED
   

Three Months Ended
 

December 31, 2011

December 31, 2010
 
Rentals, royalties and other income $ 6,514,422 $ 4,662,308
 
Land sales   4,725,140   803,000
 
Total income $ 11,239,562 $ 5,465,308
 
Provision for income tax $ 3,449,425 $ 1,292,781
 
Net income $ 6,560,335 $ 2,832,533
 
Net income per sub-share $ .71 $ .30
 
Average sub-shares outstanding during period 9,239,974 9,590,444
 

Year Ended
 

December 31, 2011

December 31, 2010
 
Rentals, royalties and other income $ 22,445,924 $ 17,353,602
 
Land sales   11,873,112   2,738,070
 
Total income $ 34,319,036 $ 20,091,672
 
Provision for income tax $ 10,161,149 $ 5,115,470
 
Net income $ 20,594,769 $ 11,308,711
 
Net income per sub-share $ 2.21 $ 1.17
 
Average sub-shares outstanding during period 9,336,998 9,679,921
 
 

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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