TravelCenters of America managed to widen its loss in the first quarter to $41.2 million, or $2.39 a share, compared to a loss of $18 million, or $1.08 a share, in the first quarter 2009.
The company attributed the loss to continued difficulty in the economy and rising fuel prices.
"Fuel commodity prices gradually rose in 2009 and through the first quarter of 2010," the company said in a statement. "As a result, TA's fuel gross margin was $10.2 million lower in the first quarter of 2010 than the first quarter of 2009, despite an increase in same site fuel sales volume in the first quarter of 2010."
The company's earnings before interest, taxes, depreciation, amortization and rent was $33.2 million, down from $52.8 million in the year-ago quarter.
Revenue was about $1.4 billion, compared to $966.6 million in the 2009 period.
Total fuel sales were $1.1 billion, up from $703.9 million in the first quarter of 2009.
"During the first quarter of 2010, TA experienced an increase in same site fuel sales volume of 9.1 percent, compared with the first quarter of 2009," the company said. "This increase resulted primarily from increased trucking activity attributable to increased economic activity in the U.S. during the first quarter of 2010, compared to the same period of the prior year, and continued the positive trend that began in the fourth quarter of 2009 after the negative trend that had persisted since 2007 had moderated throughout the first three quarters of 2009."
The company attributed the loss to continued difficulty in the economy and rising fuel prices.
"Fuel commodity prices gradually rose in 2009 and through the first quarter of 2010," the company said in a statement. "As a result, TA's fuel gross margin was $10.2 million lower in the first quarter of 2010 than the first quarter of 2009, despite an increase in same site fuel sales volume in the first quarter of 2010."
The company's earnings before interest, taxes, depreciation, amortization and rent was $33.2 million, down from $52.8 million in the year-ago quarter.
Revenue was about $1.4 billion, compared to $966.6 million in the 2009 period.
Total fuel sales were $1.1 billion, up from $703.9 million in the first quarter of 2009.
"During the first quarter of 2010, TA experienced an increase in same site fuel sales volume of 9.1 percent, compared with the first quarter of 2009," the company said. "This increase resulted primarily from increased trucking activity attributable to increased economic activity in the U.S. during the first quarter of 2010, compared to the same period of the prior year, and continued the positive trend that began in the fourth quarter of 2009 after the negative trend that had persisted since 2007 had moderated throughout the first three quarters of 2009."
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