Texas Pacific Land Trust Third Quarter Earnings Release (Unaudited)

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

REPORT OF OPERATIONS - UNAUDITED
 

Three Months Ended
 

September 30, 2013

September 30, 2012
 
Rentals, royalties and other income $ 9,735,009 $ 7,043,281
 
Land sales   5,201,600   --
 
Total income $ 14,936,609 $ 7,043,281
 
Provision for income tax $ 4,672,797 $ 2,058,891
 
Net income $ 9,431,118 $ 4,311,092
 
Net income per sub-share $ 1.10 $ .48
 
Average sub-shares outstanding during period 8,602,550 8,940,175
 

Nine Months Ended
 

September 30, 2013

September 30, 2012
 
Rentals, royalties and other income $ 26,084,208 $ 19,520,351
 
Land sales   5,533,188   5,809,747
 
Total income $ 31,617,396 $ 25,330,098
 
Provision for income tax $ 9,297,901 $ 7,570,357
 
Net income $ 19,699,402 $ 15,534,021
 
Net income per sub-share $ 2.28 $ 1.73
 
Average sub-shares outstanding during period 8,657,125 8,998,515

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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