Texas Pacific Land Trust Fourth Quarter Earnings Release (Unaudited)

Texas Pacific Land Trust (NYSE:TPL):
 
TEXAS PACIFIC LAND TRUST
         

REPORT OF OPERATIONS - UNAUDITED
 

Three Months Ended
 

December 31, 2012

December 31, 2011
 
Rentals, royalties and other income

$
7,276,793 $ 6,514,422
 
Land sales   --   4,725,140
 
Total income $ 7,276,793 $ 11,239,562
 
Provision for income tax $ 2,104,711 $ 3,449,425
 
Net income $ 4,113,797 $ 6,560,335
 
Net income per sub-share $ .47 $ .71
 
Average sub-shares outstanding during period 8,848,369 9,239,974
 
 
 

Year Ended
 
December 31, 2012 December 31, 2011
 
Rentals, royalties and other income $ 26,797,144 $ 22,445,924
 
Land sales   5,809,747   11,873,112
 
Total income $ 32,606,891 $ 34,319,036
 
Provision for income tax $ 9,675,068 $ 10,161,149
 
Net income $ 19,647,818 $ 20,594,769
 
Net income per sub-share $ 2.20 $ 2.21
 
Average sub-shares outstanding during period 8,939,045 9,336,998
 

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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