Texas Pacific Land Trust First Quarter Earnings Release (Unaudited)

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

TEXAS PACIFIC LAND TRUST

 

REPORT OF OPERATIONS - UNAUDITED

 
   

Three Months Ended

   

March 31, 2015

March 31, 2014

 
Rentals, royalties and other income $ 14,471,353

 

$

11,581,953

 
Land sales   20,268,000   --
 
Total income $ 34,739,353

 

$

11,581,953

 
Provision for income tax $ 11,589,522

 

$

3,389,630

 
Net income $ 22,166,089

 

$

7,249,918

 
Net income per sub-share

$

2.67

 

$

.86

 
Average sub-shares outstanding during period

8,297,581

8,451,133

 

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.

Contacts

Texas Pacific Land Trust
David M. Peterson, 214-969-5530
General Agent, Chief Executive Officer

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