Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)

Texas Pacific Land Trust (NYSE:TPL):
 

TEXAS PACIFIC LAND TRUST
 

REPORT OF OPERATIONS - UNAUDITED
 
   

Three Months Ended

June 30, 2013
   

June 30, 2012
 
Rentals, royalties and other income $ 9,735,345 $ 6,463,991
 
Land sales   218,588   2,242,747
 
Total income $ 9,953,933 $ 8,706,738
 
Provision for income tax $ 2,919,238 $ 2,671,435
 
Net income $ 6,130,440 $ 5,284,674
 
Net income per sub-share $ .71 $ .59
 
Average sub-shares outstanding during period 8,686,690 9,025,506
 

Six Months Ended
June 30, 2013 June 30, 2012
 
Rentals, royalties and other income $ 16,349,199 $ 12,477,070
 
Land sales   331,588   5,809,747
 
Total income $ 16,680,787 $ 18,286,817
 
Provision for income tax $ 4,625,104 $ 5,511,466
 
Net income $ 10,268,284 $ 11,222,929
 
Net income per sub-share $ 1.18 $ 1.24
 
Average sub-shares outstanding during period 8,710,356 9,057,829

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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