Patriot Transportation is a publicly traded competitor who recently announced their quarterly earnings which happens to be close to our unaudited 2014 revenue amount. The P/L statement below can give us "some" idea of what we can expect for 2014 numbers. Notice the lower surcharge amount for 2015 revenues due to lower fuel prices. $1,300,000 vs $4,400,000.
PATRIOT TRANSPORTATION HOLDING, INC. AND SUBSIDIARIES
CONSOLIDATED AND COMBINED STATEMENTS OF INCOME
(In thousands)
(Unaudited)
THREE MONTHS ENDED
DECEMBER 31,
2015 2014
Revenues:
Transportation revenues $ 28,009 27,292
Fuel surcharges 1,362 4,425
Total revenues 29,371 31,717
Cost of operations:
Compensation and benefits 12,572 11,983
Fuel expenses 3,825 6,005
Repairs & tires 1,809 1,814
Other operating 1,090 1,137
Insurance and losses 3,018 2,839
Depreciation expense 2,148 2,108
Rents, tags & utilities 949 941
Sales, general & administrative 2,399 2,322
Corporate expenses 958 919
Loss (Gain) on equipment sales 4 (184 )
Total cost of operations 28,772 29,884
Total operating profit 599 1,833
BP Claim Settlement 1,687 â
Interest income and other 3 â
Interest expense (35 ) (26 )
Income before income taxes 2,254 1,807
Provision for income taxes 879 705
Net income $ 1,375 1,102
Comprehensive Income $ 1,375 1,102
Earnings per common share:
Net Income-
Basic 0.42 0.34
Diluted 0.42 0.34
Number of shares (in thousands)used in computing:
-basic earnings per common share 3,273 3,243
-diluted earnings per common share 3,277 3,243
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