toa reports big first quarter losses

Recent merger and taking the company public gobbled up revenues, profits.

TravelCenters of America LLC has reported a huge loss for its first quarter, which ended March 31, due in large part to costs connected with going public.

The company’s net loss in the quarter totaled $54.3 million. $45 million of the loss came from costs related to the acquisition and restructuring of TravelCenters of America Inc. by Hospitality Properties Trust.

The TravelCenters business ultimately branched from Hospitality Properties and became publicly traded as TravelCenters of America LLC in late January of this year.

TravelCenters said its pro forma loss in the first quarter of 2006 totaled $13.6 million, or $1.55 a share, according to Crain’s Cleveland Business.


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