TravelCenters of America announced financial results for the three months ended June 30, 2011. Earnings were over 17 times higher than the same period last year.

TA's profits for the second quarter of 2011 compared to the second quarter of 2010 improved by $20.5 million, from $1.2 million for the 2010 second quarter to net income of $21.7 million for the 2011 second quarter.

Net income increased primarily due to increases in fuel and nonfuel sales and margin levels, and from a reduction in rent and interest as a result of TA's January lease amendment with Hospitality Properties Trust.

TA's results also reflected improvement in EBITDAR, which increased by $7.1 million in the Q2 2011 over Q2 2010. TA's fuel sales volume and fuel gross margin per gallon increased by 4.3% and 10.2%, respectively, resulting in total fuel gross margin that was $11.1 million higher.

Nonfuel sales for the 2011 second quarter increased 9.7% over the 2010 second quarter largely due to increased customer spending in TA's travel centers. TA's operating expenses as a percentage of nonfuel revenues on a same site basis for the 2011 second quarter decreased by 40 basis points as compared to the 2010 second quarter.

At June 30, 2011, TA's business included 234 sites, 166 of which were operated under the "TravelCenters of America" or "TA" brand names, 65 of which were operated under the "Petro" brand name and three sites TA recently acquired which TA is still operating under their existing brands.

In order to try to take advantage of the recent opportunities in the travel center industry, TA has used some of its available cash to acquire new locations at what it believes are attractive prices. Since the beginning of 2011, TA has invested approximately $37.8 million related to the acquisition of eight travel centers.