EXHIBIT 99.1

 

24601 Center Ridge Road, Westlake, OH 44145-5639

GRAPHIC

tel: (440) 808-9100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOR IMMEDIATE RELEASE

Contacts: Timothy A. Bonang, Director of Investor Relations or

 

Carlynn Finn, Manager of Investor Relations

 

(617) 796-8251

 

www.tatravelcenters.com

 

TravelCenters of America LLC Announces Fourth Quarter and Year End 2008 Results

 

Westlake, OH (March 2, 2009):  TravelCenters of America LLC (NYSE Alternext US: TA) today announced financial results for the fourth quarter and year ended December 31, 2008.

 

TravelCenters of America LLC, or TA, became a public company on January 31, 2007.  On May 30, 2007, TA acquired Petro Stopping Centers, L.P., or Petro.  Because of the significance of these transactions, TA’s historical financial results in accordance with generally accepted accounting principles may have only limited relevance to investors.  Consequently, in addition to the historical financial results in accordance with generally accepted accounting principles presented in this press release, TA is furnishing supplemental data that it believes may help investors better understand TA’s business.  Included in this supplemental data is same site operating data that includes results of sites for periods prior to TA’s operation of those sites.  Also included is a presentation of earnings before interest, taxes, depreciation, amortization and rent, or EBITDAR, and EBITDAR excluding the impact of certain noncash items and certain items that TA considers to be nonrecurring as a result of the changes experienced on January 31 and May 30, 2007, and other items described, or Adjusted EBITDAR.

 

At December 31, 2008, TA’s business included 233 sites, 166 of which were operated under the “TravelCenters of America” or “TA” brand names and 67 that were operated under the “Petro” brand name.

 

 

 

Three Months Ended
December 31

 

Year Ended
December 31

 

 

 

2008

 

2007

 

2008

 

2007(1)

 

 

 

(in thousands, except share and per share amounts)

 

Revenues

 

$

1,314,996

 

$

1,806,730

 

$

7,658,379

 

$

6,166,157

 

Net income (loss)

 

$

1,357

 

$

(68,893

)

$

(40,201

)

$

(123,356

)

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares:

 

 

 

 

 

 

 

 

 

Basic

 

15,829

 

14,170

 

14,833

 

N/A

 

Diluted

 

16,290

 

14,170

 

14,833

 

N/A

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

0.09

 

$

(4.86

)

$

(2.71

)

$

N/A

 

Diluted

 

$

0.08

 

$

(4.86

)

$

(2.71

)

$

N/A

 

 

 

 

 

 

 

 

 

 

 

Supplemental Data:

 

 

 

 

 

 

 

 

 

Total fuel sales

 

$

1,038,858

 

$

1,512,281

 

$

6,454,357

 

$

5,063,346

 

Gross fuel margin

 

$

87,703

 

$

44,183

 

$

275,323

 

$

171,047

 

 

 

 

 

 

 

 

 

 

 

Total nonfuel sales

 

$

272,723

 

$

290,755

 

$

1,189,597

 

$

1,089,921

 

Gross nonfuel margin

 

$

158,081

 

$

165,770

 

$

690,425

 

$

627,847

 

 

 

 

 

 

 

 

 

 

 

EBITDAR

 

$

76,287

 

$

20,266

 

$

246,886

 

$

82,422

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDAR

 

$

77,180

 

$

27,947

 

$

260,347

 

$

173,722

 

 


The following information was filed by Travelcenters Of America Llc (TA) on Monday, March 2, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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