Sales slowdown at Petro Stopping Centers

Petro Stopping Centers L.P. announced that its operating results for the third quarter ended Sept. 30 fell below 2000 results. Revenues for the third-quarter 2001 were $237.4 million, compared to $256.8 million for third-quarter 2000. Net income was $4.5 million, compared to of $2.7 million for the same period last year. The increase was attributed to higher operating income resulting from a payment

Tim Parry

Nov. 13, 2001

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Petro Stopping Centers L.P. announced that its operating results for the third quarter ended Sept. 30 fell below 2000 results.

Revenues for the third-quarter 2001 were $237.4 million, compared to $256.8 million for third-quarter 2000. Net income was $4.5 million, compared to of $2.7 million for the same period last year. The increase was attributed to higher operating income resulting from a payment for the early termination of four franchise agreements.

"As our nation and economy continue to face many challenges in the shadow of the tragic events of September 11, we remain focused on ensuring that the company operates as efficiently as possible so we are prepared to capitalize on a rebound in the economy." Petro chairman & CEO Jack Cardwell said.