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, 2013 December 31, 2012
 
Rentals, royalties and other income $ 11,623,283 $ 7,276,793
 
Land sales   880,400   --
 
Total income $ 12,503,683 $ 7,276,793
 
Provision for income tax $ 3,626,169 $ 2,104,711
 
Net income $ 7,519,106 $ 4,113,797
 
Net income per sub-share $ .88 $ .47
 
Average sub-shares outstanding during period 8,518,660 8,848,369
 
 

Year Ended
 
December 31, 2013 December 31, 2012
 
Rentals, royalties and other income $ 37,707,491 $ 26,797,144
 
Land sales   6,413,588   5,809,747
 
Total income $ 44,121,079 $ 32,606,891
 
Provision for income tax $ 12,924,070 $ 9,675,068
 
Net income $ 27,218,508 $ 19,647,818
 
Net income per sub-share $ 3.16 $ 2.20
 
Average sub-shares outstanding during period 8,601,171 8,939,045

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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