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, 2014 December 31, 2013
 
Rentals, royalties and other income $ 11,590,486 $ 11,623,283
 
Land sales   1,704,582   880,400
 
Total income $ 13,295,068 $ 12,503,683
 
Provision for income tax $ 3,965,655 $ 3,626,169
 
Net income $ 8,234,892 $ 7,519,106
 
Net income per sub-share $ .99 $ .88
 
Average sub-shares outstanding during period 8,353,393 8,518,660
 
 
Year Ended
 
December 31, 2014 December 31, 2013
 
Rentals, royalties and other income $ 51,518,441 $ 37,707,491
 
Land sales   3,698,312   6,413,588
 
Total income $ 55,216,753 $ 44,121,079
 
Provision for income tax $ 16,666,534 $ 12,924,070
 
Net income $ 34,765,020 $ 27,218,508
 
Net income per sub-share $ 4.14 $ 3.16
 
Average sub-shares outstanding during period 8,397,314 8,601,171
 

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

Source: Texas Pacific Land Trust