WESTLAKE, Ohio -- TravelCenters of America LLC's results for fourth-quarter 2010 compared to the fourth-quarter 2009 reflected favorable changes in its net loss, which improved by $14.6 million, from a net loss of $44.6 million ($2.65 per share) for the fourth-quarter 2009 to a net loss of $30 million ($1.71 per share) for the fourth-quarter 2010. TA's net loss for the full-year 2010 was $65.6 million ($3.78 per share) compared to a net loss of $89.9 million ($5.38 per share) for full-year 2009.
Fuel sales volume on a same-site basis increased by 2.3% in fourth-quarter 2010 [image-nocss] versus the 2009 quarter. On a same-site basis, 2010 fourth quarter fuel gross margin was approximately $10.3 million or 20.8% more than in the comparable 2009 quarter.
Fuel revenue for four-quarter 2010 reflected an increase of $219 million or approximately 21%. The large majority of this variance results from increases in commodity fuel prices between the 2009 and 2010 fourth quarters. The increased level of fuel sales volume also contributed to the revenue increase.
Nonfuel revenue during fourth-quarter 2010 increased by $21.2 million or about 8.2% on a same-site basis versus fourth-quarter 2009.
"We believe that the increase in nonfuel sales reflects the effects of the improving economic conditions on trucking companies and drivers, including increased use of our truck maintenance and repair services," said CFO Andy Rebholz during the Westlake, Ohio-based company's conference call.
Nonfuel gross margin as a percentage of nonfuel sales increased by 20 basis points on a same-site basis to 57.6% for the fourth-quarter 2010. Site-level operating expenses increased by $6.8 million, or 4.6% on a same-site basis versus fourth-quarter 2009. This increase reflects the higher volume of sales in the 2010 quarter.
Fuel sales volume on a same-site basis increased by 6% in 2010 versus the 2009 year. On a same-site basis, our 2010 fuel gross margin was approximately $32 million, or 14% more than in 2009, as a result of the increased sales volume and a slightly higher margin per gallon.
Fuel revenue for the year of 2010 reflected an increase of $1.2 billion or 34%. Again, the bulk of this increase resulted from increases in fuel commodity prices with the smaller effect from the increased sales volume.
Nonfuel revenue during 2010 increased by $68.6 million, or about 6.3% on a same-site basis versus 2009.
Nonfuel gross margin as a percentage of nonfuel sales on a same-site basis was 57.8% for the 2000 year as it was for 2009. Site-level operating expenses increased by $32.1 million or about 5.4% on a same-site basis versus 2009. This increase reflects the higher volume of sales. While the amount of operating expenses increased in 2010 over 2009, the ratio of operating expenses to nonfuel revenues improved, declining by 40 basis points to 53.9% for full-year 2010.
At December 31, 2010, TA's business included 228 sites, 166 of which were operated under the "TravelCenters of America" or "TA" brand names and 62 of which were operated under the "Petro" brand name. Its offers diesel and gasoline fueling services, restaurants, truck repair facilities, stores and other services. TA's nationwide business includes travel centers located in 41 U.S. states and in Canada.
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