Exhibit 99.1
TEXAS PACIFIC LAND
TRUST
1700 Pacific Avenue
Suite 1670
Dallas, Texas 75201
__________
TRUSTEES:
Telephone (214) 969-5530
ROY THOMAS
Maurice Meyer III
General Agent
Joe R. Clark
John R. Norris III
DAVID M. PETERSON
Assistant General Agent
TEXAS PACIFIC LAND TRUST
REPORT OF OPERATIONS UNAUDITED
Three Months Ended |
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December 31, 2005 |
December 31, 2004 |
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Rentals, royalties and other income | $ | 3,526,716 | $ | 2,566,896 | ||||
Land sales | 713,368 | 105,600 | ||||||
Total income | $ | 4,240,084 | $ | 2,672,496 | ||||
Provision for income tax | $ | 876,035 | $ | 488,307 | ||||
Net income | $ | 2,181,008 | $ | 1,331,302 | ||||
Net income per sub-share | $1.01 | $.61 | ||||||
Average sub-shares outstanding during period | 2,162,642 | 2,197,175 |
Year Ended |
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December 31, 2005 |
December 31, 2004 |
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Rentals, royalties and other income | $ | 11,707,525 | $ | 8,863,384 | ||||
Land sales | 3,700,116 | 20,277,226 | ||||||
Total income | $ | 15,407,641 | $ | 29,140,610 | ||||
Provision for income tax | $ | 3,660,141 | $ | 8,359,477 | ||||
Net income | $ | 8,512,587 | $ | 17,412,958 | ||||
Net income per sub-share | $3.92 | $7.89 | ||||||
Average sub-shares outstanding during period | 2,172,931 | 2,208,190 |