News Column

Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)

July 30, 2014

DALLAS--(BUSINESS WIRE)-- Texas Pacific Land Trust (NYSE:TPL):

 
TEXAS PACIFIC LAND TRUST
 

REPORT OF OPERATIONS - UNAUDITED

 
     

Three Months Ended

 

June 30, 2014

     

June 30, 2013

 
Rentals, royalties and other income $ 13,912,659 $ 9,735,345
 
Land sales   1,670,605   218,588
 
Total income $ 15,583,264 $ 9,953,933
 
Provision for income tax $ 4,798,745 $ 2,919,238
 
Net income $ 9,914,167 $ 6,130,440
 
Net income per sub-share $ 1.17 $ .71
 
Average sub-shares outstanding during period 8,439,914 8,686,690
 

Six Months Ended

 

June 30, 2014

June 30, 2013

 
Rentals, royalties and other income $ 25,494,612 $ 16,349,199
 
Land sales   1,670,605   331,588
 
Total income $ 27,165,217 $ 16,680,787
 
Provision for income tax $ 8,188,375 $ 4,625,104
 
Net income $ 17,164,085 $ 10,268,284
 
Net income per sub-share $ 2.03 $ 1.18
 
Average sub-shares outstanding during period 8,443,926 8,710,356
 


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.



Texas Pacific Land Trust

David M. Peterson, 214-969-5530

General Agent, Chief Executive Officer and Chief Financial Officer

Source: Texas Pacific Land Trust


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