NEW YORK (Thomson Financial) - TravelCenters of America LLC Tuesday reported
a third-quarter net loss of $21.6 million, or $1.56 a share.
Revenue for the Westlake, Ohio-based operator of travel centers rose to
$1.74 billion.
In the year-ago period, the company posted earnings of $14 million, or 1.84
a share, on revenue of $1.3 billion. During the year, the company became public
and completed the acquisition of Petro Shopping Centers for an undisclosed
amount.
In August, TravelCenters announced plans for staff reorganization to
consolidate functions that had been duplicated as a result of the Petro
acquisition. As a result of the reorganization, the company sees annual savings
of $8 million.
Shares of TravelCenters closed Monday at $23.75.
Ryan Vlastelica
rv/pc
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