Texas Pacific Land Trust Fourth Quarter Earnings Release (Unaudited)
DALLAS--(BUSINESS WIRE)--
Texas Pacific Land Trust (NYSE:TPL):
TEXAS PACIFIC LAND TRUST
REPORT OF OPERATIONS - UNAUDITED
Three Months Ended
December 31, 2009 December 31, 2008
Rentals, royalties and other income $ 3,642,204 $ 3,019,609
Land sales -- --
Total income $ 3,642,204 $ 3,019,609
Provision for income tax $ 746,736 $ 519,536
Net income $ 1,769,342 $ 1,197,880
Net income per sub-share $ .18 $ .12
Average sub-shares outstanding during 9,938,380 10,272,592
period
Year Ended
December 31, 2009 December 31, 2008
Rentals, royalties and other income $ 12,615,277 $ 18,701,572
Land sales 523,010 823,440
Total income $ 13,138,287 $ 19,525,012
Provision for income tax $ 3,130,720 $ 4,865,193
Net income $ 6,914,043 $ 10,939,773
Net income per sub-share $ .69 $ 1.06
Average sub-shares outstanding during 10,018,028 10,354,408
period
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.
Source: Texas Pacific Land Trust
Released January 28, 2010