Texas Pacific Land Trust Third Quarter Earnings Release (Unaudited)

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

 
TEXAS PACIFIC LAND TRUST
 

REPORT OF OPERATIONS - UNAUDITED

 
   

Three Months Ended

   
September 30, 2014 September 30, 2013
 
Rentals, royalties and other income $ 14,433,343 $ 9,735,009
 
Land sales   323,125   5,201,600
 
Total income $ 14,756,468 $ 14,936,609
 
Provision for income tax $ 4,512,504 $ 4,672,797
 
Net income $ 9,366,043 $ 9,431,118
 
Net income per sub-share $ 1.11 $ 1.10
 
Average sub-shares outstanding during period 8,406,403 8,602,550
 

Nine Months Ended

 
September 30, 2014 September 30, 2013
 
Rentals, royalties and other income $ 39,927,955 $ 26,084,208
 
Land sales   1,993,730   5,533,188
 
Total income $ 41,921,685 $ 31,617,396
 
Provision for income tax $ 12,700,879 $ 9,297,901
 
Net income $ 26,530,128 $ 19,699,402
 
Net income per sub-share $ 3.15 $ 2.28
 
Average sub-shares outstanding during period 8,425,346 8,657,125
 

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