Printer Friendly

TRAVEL PORTS PRESIDENT SEES RECORD PROFITS

 ROCHESTER, N.Y., Oct. 26 /PRNewswire/ -- Travel Ports of America (NASDAQ: TPOA) earned 15 cents per share on sales of $137,682,172 during its 1993 fiscal year, which ended last April 30. In September, the company reported first quarter 1994 earnings of nine cents per share, compared with two cents for the same quarter in fiscal 1993.
 Travel Ports President John Holahan said that he anticipates earnings of 10 cents per share for this year's second quarter, which ends Oct. 31, compared to five cents in 1993.
 Holahan also told shareholders that the company sold its travel center near Allentown, Pa., on Oct. 14. That location, he said, was not profitable, and its outmoded facilities did not fit in with the company's program of operating modern, full-service travel plazas. Proceeds from the sale, Holahan said, were used to reduce debt.
 Holahan cited three key factors that should help Travel Ports achieve its highest profit level since the company went public in 1986. First, he said that margins on diesel fuel have returned to more traditional levels after being depressed for several years. Second, non- fuel margins have also improved as the company expands and upgrades its restaurant, shop and store operations. Finally, Holahan said, lower interest rates coupled with a lower level of debt have reduced interest expense.
 Travel Ports, headquartered in Rochester, N.Y., operates 14 travel plazas in New York, New Jersey, Pennsylvania, Indiana and North and South Carolina.
 -0- 10/26/93
 /CONTACT: John Holahan or William Burslem III of Travel Ports, 716-272-1810/
 (TPOA)


CO: Travel Ports of America ST: New York IN: TRN SU: ERP

AR -- CL019 -- 6831 10/26/93 10:59 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 26, 1993
Words:279
Previous Article:BURCH PROMOTED TO REGIONAL SENIOR VICE PRESIDENT FOR NEWLY FORMED MID-ATLANTIC REGION AT COMCAST CABLE COMMUNICATIONS, INC.
Next Article:KEATING BANNED BY OTS ORDER; RULING CAPS THREE-YEAR ACTION
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters