Market Overview

Texas Pacific Land Trust Third Quarter Earnings Release (Unaudited)

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DALLAS--(BUSINESS WIRE)--

Texas Pacific Land Trust (NYSE: TPL):

     

REPORT OF OPERATIONS - UNAUDITED

 

Three Months Ended

 

September 30, 2012

September 30, 2011

 
Rentals, royalties and other income $ 7,043,281 $ 5,604,407
 
Land sales  

--

  2,955,972
 
Total income

$

7,043,281

$

8,560,379

 
Provision for income tax

$

2,058,891

$

2,589,178

 
Net income

$

4,311,092

$

5,258,936

 
Net income per sub-share $ .48

$

.56

 
Average sub-shares outstanding during period 8,940,175 9,340,425
 

Nine Months Ended

 

September 30, 2012

September 30, 2011

 
Rentals, royalties and other income

$

19,520,351

$ 15,931,502
 
Land sales   5,809,747   7,147,972
 
Total income

$

25,330,098

$ 23,079,474
 
Provision for income tax

$

7,570,357

$

6,711,724

 
Net income

$

15,534,021

$

14,034,434

 
Net income per sub-share

$

1.73

$

1.49

 
Average sub-shares outstanding during period 8,998,515 9,400,891
 

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
Roy Thomas, 214-969-5530
General Agent & Chief Executive Officer

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