Truck stop chain TravelCenters of America reported a net loss for the fourth quarter compared with a year earlier.
The company became public on Jan. 31, 2007, and on May 30, TA acquired Petro Stopping Centers L.P.
For the three and eleven months ended Dec. 31, it reported a net loss of $68.9 million, or $4.86 per share, and $101.3 million, or $8.68 per share, respectively.
For the year ended Dec. 31, TA and its predecessor combined had a net loss of $123.4 million, compared with its predecessor’s net 2006 income of $31 million, the company said in a statement.
TA and Petro combined saw a decline in diesel fuel and gasoline sales volumes on a same site basis of 10.7% in the quarter, it said.
“Industry and economic conditions in the fourth quarter of 2007 were difficult,” the company said in a statement. “While diesel fuel prices moderated somewhat and we improved our fuel margins on a cents-per-gallon basis . . . our volume of fuel sold on a same site basis declined because of decreased demand from our customers.”
TA was acquired by Hospitality Properties Trust Jan. 31, and subsequently spun off from HPT. The $1.9 billion acquisition was first reported in September.
The company said last month it would trim its workforce by 190 employees, or about 8%.
