ALBUQUERQUE, N.M., June 10 /PRNewswire-FirstCall/ -- Bowlin Travel Centers, Inc. (OTC:BWTL) (BULLETIN BOARD: BWTL) today reported results for the first quarter of fiscal year 2009. For the three-month period ended April 30, 2008, the Company reported net sales from continuing operations of $6.579 million, a decrease of 1.5% compared to net sales from continuing operations of $6.677 million for the prior year first quarter period. The Company experienced a net loss for the three-month period ended April 30, 2008, of $96,000 or $0.021 per basic and diluted share compared to net income of $8,000, or $0.002 per basic and diluted share for the three-month period ended April 30, 2007. "Decreased traffic on the highways as a result of higher fuel costs impacted our retail merchandise and food sales," said Michael L. Bowlin, Chairman, President and Chief Executive Officer. "The nation continues to experience a general slowing of economic strength created by the rising cost of fuel. We will focus on our ability to effectively manage our travel centers and to control cost of sales through volume purchasing that provides improved margins. In addition, we will continue to improve inventory control through our proprietary software." The Company operates full-service travel centers and restaurants that offer brand name food and gasoline, and a unique variety of Southwestern merchandise to the traveling public in New Mexico and Arizona. Visit our web sites at: http://www.bowlintc.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 (505) 266-5985 Rudy R. Miller, Chairman and CEO The Miller Group Investor Relations for the Company (602) 225-0504 FINANCIAL TABLES FOLLOW: The following tables outline the company's financial results for the first quarter of fiscal 2009. Condensed Balance Sheets and Statements of Income BALANCE SHEET (in thousands) April 30, January 31, 2008 2008 (Unaudited) (Audited) Assets Cash and cash equivalents $1,473 $1,899 Marketable securities 2,500 2,300 Other current assets 4,132 4,047 Total Current Assets 8,105 8,246 Property and equipment, net 9,733 9,855 Assets held for sale 1,117 1,123 Other assets 623 638 Total Assets $19,578 $19,862 Liabilities and Shareholders' Equity Current liabilities $1,409 $1,541 Long-term debt 4,544 4,577 Deferred income taxes 616 639 Total Liabilities 6,569 6,757 Shareholders' equity 13,009 13,105 Total Liabilities and Shareholders' Equity $19,578 $19,862 CONDENSED STATEMENTS OF INCOME (in thousands, except share and per share data) THREE MONTHS ENDED April 30, 2008 2007 Net sales $6,579 $6,677 Cost of goods sold (4,790) (4,586) General and administrative expenses (1,722) (1,815) Depreciation and amortization (210) (194) Income (loss) from continuing operations (143) 82 Interest expense (68) (76) Other non-operating income, net 82 104 Income (loss) from continuing operations before income taxes (129) 110 Income tax expense (benefit) 47 (57) Income (loss) from continuing operations (82) 53 Loss from discontinued operations (14) (45) Net income (loss) $(96) $8 Earnings per share: Basic and diluted; continuing operations $(0.018) $0.012 Basic and diluted; discontinued operations $(0.003) $(0.010) Basic and diluted; net income (loss) $(0.021) $0.002 Weighted average common shares outstanding 4,583,348 4,583,348 DATASOURCE: Bowlin Travel Centers, Inc. CONTACT: Michael L. Bowlin, Chairman, +1-505-266-5985; or Rudy R. Miller, Chairman and CEO of The Miller Group, +1-602-225-0504, Investor Relations for Bowlin Travel Centers, Inc. Web site: http://www.bowlintc.com/

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