ALBUQUERQUE, N.M., April 28 /PRNewswire-FirstCall/ -- Bowlin Travel Centers, Inc. (OTC:BWTL) (BULLETIN BOARD: BWTL) today reported gross sales for fiscal year ended January 31, 2006 were up 15.8% to $27.904 million from $24.090 million for fiscal year ended January 31, 2005. For the fourth quarter of fiscal year 2006, Bowlin's gross sales increased 9.9% to $6.236 million from $5.675 million in the same period of fiscal year 2005. Operating income increased 36.8% to $971,000 for fiscal year 2006 compared to operating income of $710,000 for fiscal year 2005. Operating income for the fourth quarter of fiscal year 2006 was $318,000, an increase of 165.0% compared to operating income of $120,000 for the fourth quarter of fiscal year 2005. Net income increased 48.1% to $650,000 for the fiscal year ended January 31, 2006, compared to net income of $439,000 for fiscal year 2005. Net income rose 181.8% to $155,000 for the fourth quarter of fiscal year 2006 compared to net income of $55,000 in the same period of fiscal 2005. The increase in net income was attributable to the rise in operating income as well as a non-operating gain from the sale of property and equipment that was partially offset by increases in interest expense. Michael L. Bowlin, Chairman, President and Chief Executive Officer, commented, "The performance of our newest travel center located at Picacho Peak in Arizona was a positive factor in the increase to gross sales. In addition, our gains from non-operating transactions also contributed to net income. We continue to focus on operational improvements that include volume buying for improved margins as well as maintaining our successful supervisory support program." The Company operates travel centers strategically located on major interstate highways 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 and CEO (505) 266-5985 Rudy R. Miller, Chairman and CEO The Miller Group Investor Relations for the Company (602) 225-0504 The following tables outline the company's financial results for fiscal 2006 and fiscal 2005. Condensed Balance Sheets and Statements of Income BALANCE SHEET (in thousands) Fiscal Year Ended January 31, Assets 2006 2005 Cash and cash equivalents $2,615 $2,043 Other current assets 3,932 3,926 Total Current Assets 6,547 5,969 Property and equipment, net 12,541 13,265 Other assets 720 851 Total Assets $19,808 $20,085 Liabilities and Shareholders' Equity Current liabilities $2,154 $2,387 Long-term debt 4,799 5,262 Deferred income taxes 812 877 Deferred revenue, long term -- 166 Total Liabilities 7,765 8,692 Shareholders' equity 12,043 11,393 Total Liabilities and Shareholders' Equity $19,808 $20,085 CONDENSED STATEMENTS OF INCOME (in thousands, except share and per share data) THREE MONTHS ENDED TWELVE MONTHS ENDED JANUARY 31, JANUARY 31, 2006 2005 2006 2005 Net sales $6,326 $5,633 $27,669 $23,891 Cost of goods sold (3,717) (3,348) (17,980) (15,113) General and administrative expenses (2,069) (1,986) (7,833) (7,365) Depreciation and amortization (222) (179) (885) (703) Income from operations 318 120 971 710 Interest expense (110) (66) (406) (203) Other non-operating income, net (10) 60 450 237 Income before income taxes 198 114 1,015 744 Income tax expense 43 59 365 305 Net income $155 $55 $650 $439 Earnings per share: Basic and diluted $0.03 $0.01 $0.14 $0.10 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 and CEO 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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