BOWLIN TRAVEL CENTERS REPORTS RESULTS FOR
SECOND QUARTER OF FISCAL YEAR 2008
ALBUQUERQUE, NEW MEXICO, September 12, 2007 -- Bowlin Travel Centers, Inc. (OTCBB: BWTL) today reported net sales from continuing operations increased 3.3% to $8.268 million for the three months ended July 31, 2007, compared to net sales from continuing operations of $8.006 million for the same three month period in the prior fiscal year. Earnings per share for the three-month period ended July 31, 2007 was $0.15 per basic and diluted share, compared to $0.07 per basic and diluted share for the three months ended July 31, 2006.
Net sales from continuing operations increased 2.1% to $14.945 million for the six months ended July 31, 2007, compared to net sales from continuing operations of $14.642 million for the six months ended July 31, 2006. Earnings per share for the six-months ended July 31, 2007 was $0.16 per basic and diluted share, compared to $0.08 for the same six-month period in the prior fiscal year.
“We recorded the previously announced sale of one location during the second quarter of fiscal 2008, which added $549,000, net of taxes, to our net income. Two other underperforming locations remain on the market for sale,” stated Michael L. Bowlin, Chairman, President and Chief Executive Officer. “We reported an increase in net sales for the quarter and six-month periods, however the gains were negatively effected by increases in the cost of goods sold and general administrative expenses, two areas that are critical focal points in our operational management. We will continue with our supervisory support programs for our travel center management and our volume buying efforts that offer an opportunity for improvement in our margins.”
