ALBUQUERQUE, N.M., Sept. 12 /PRNewswire-FirstCall/ -- Bowlin Travel Centers, Inc. (OTC:BWTL) (BULLETIN BOARD: 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." Strategically located on major interstate highways, the Company operates travel centers that utilize co-branding agreements with national companies. The Company's current operations are located in the Southwestern United States. Visit our web sites at: http://www.bowlintc.com/ and http://www.shopbowlin.com/ Certain statements contained herein with respect to factors which may affect future earnings, including management's beliefs and assumptions based on information currently available, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements that are not historical facts involve risks and uncertainties, and results could vary materially from the descriptions contained herein. For more details on risk factors, see the company's annual reports on Form 10-K, quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission. For Further Information Contact: Michael L. Bowlin, Chairman (505) 266-5985 Rudy R. Miller, Chairman and CEO The Miller Group Investor Relations for the Company (602) 225-0504 FINANCIAL TABLES FOLLOW: The following tables outline the company's financial results for fiscal 2008 and fiscal 2007 Condensed Balance Sheets and Statements of Income BALANCE SHEET (in thousands) July 31, January 31, 2007 2007 (Unaudited) (Audited) Assets Cash and cash equivalents $2,499 $2,308 Marketable securities 2,281 453 Other current assets 4,275 4,171 Total Current Assets 9,055 6,932 Property and equipment, net 9,904 9,706 Assets held for sale 1,147 2,559 Other assets 633 809 Total Assets $20,739 $20,006 Liabilities and Shareholders' Equity Current liabilities $2,136 $1,880 Long-term debt 4,103 4,198 Long-term debt of assets held for sale 461 521 Deferred income taxes 671 759 Total Liabilities 7,371 7,358 Shareholders' equity 13,368 12,648 Total Liabilities and Shareholders' Equity $20,739 $20,006 CONDENSED STATEMENTS OF INCOME (in thousands, except share and per share data) Three Months Ended Six Months Ended July 31, July 31, July 31, July 31, 2007 2006 2007 2006 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net sales $8,268 $8,006 $14,945 $14,642 Cost of goods sold (5,557) (5,322) (10,143) (9,854) General and administrative expenses (2,093) (1,909) (3,907) (3,617) Depreciation and amortization (194) (188) (389) (372) Operating income 424 587 506 799 Interest expense (138) (87) (215) (170) Other non-operating income 85 67 190 154 Income from continuing operations before income taxes 371 567 481 783 Income tax expense (130) (220) (187) (307) Income from continuing operations 241 347 294 476 Discontinued operations Loss from operations of discontinued components (109) (62) (201) (159) Income tax benefit 30 23 78 62 (79) (39) (123) (97) Income from disposal of discontinued operations, net of income tax expense 549 - 549 - Net income $711 $308 $720 $379 Earnings (loss) per share: Basic and diluted, continuing operations $0.05 $0.08 $0.06 $0.10 Basic and diluted, discontinued operations $(0.02) $(0.01) $(0.02) $(0.02) Basic and diluted, disposal of discontinued operations $0.12 - $0.12 - Basic and diluted, net income $0.15 $0.07 $0.16 $0.08 Weighted average common shares outstanding 4,583,348 4,583,348 4,583,348 4,583,348 DATASOURCE: Bowlin Travel Centers, Inc. CONTACT: Michael L. Bowlin, Chairman of Bowlin Travel Centers, Inc., +1-505-266-5985; or Investor Relations, Rudy R. Miller, Chairman and CEO of The Miller Group, +1-602-225-0504, for Bowlin Travel Centers, Inc. Web site: http://www.bowlintc.com/ http://www.shopbowlin.com/

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