8% CBOE S&P 500 BuyWrite Index Targeted Income STRS (NYSE:BWN)
Industry: Financial
BOWLIN Outdoor Advertising & Travel Centers Incorporated is engaged in the operation of travel centers and outdoor advertising displays dedicated to serving the traveling public in rural and smaller metropolitan areas of the southwestern United States. BOWLIN currently operates 15 full-service travel centers along interstate highways in Arizona and New Mexico. The Company advertises its travel centers through a network of over 350 outdoor advertising display faces. The Company's travel centers offer brand name food, gasoline and a variety of unique southwestern merchandise to the traveling public. In addition to its travel centers, the Company operates over 4,000 revenue-generating outdoor advertising display faces for third-party customers such as hotels and motels, restaurants and consumer product companies. These display faces are strategically situated primarily along interstate highways in Arizona, New Mexico and Texas and, to a lesser extent, in Colorado,Oklahoma and Arkansas. The Company provides a comprehensive range of outdoor advertising services to its clients, including customized design and production services. Travel Center Operations The Company's 15 travel centers are located along two interstate highways (I-10 and I-40) in Arizona and New Mexico, which are key highways for travel to numerous tourist and recreational destinations as well as arteries for regional traffic among major southwestern cities. All of the Company's travel centers are open every day of the year except Christmas. Each of the Company's travel centers maintains a distinct, theme-oriented atmosphere. In addition to the southwestern merchandise it purchases from Native American tribes, the Company also imports some 650 items from Mexico, including handmade blankets, earthen pottery and wood items. Additional goods, novelties and imprinted merchandise are imported from several Pacific Rim countries. BOWLIN sells food under the Dairy Queen and Dairy Queen/Brazier brand names and sells snacks and souvenir merchandise under the Stuckey's brand name. The terms of its agreements with Stuckey's and Dairy Queen obligate the Company to pay these franchisers a franchise royalty and in some instances a promotion fee, each equal to a percentage of gross sales revenues from products sold, as well as comply with certain provisions governing the operation of the franchised stores. The Company's food service operations at seven of its travel centers operate under the Dairy Queen/Brazier or Dairy Queen trade names. Four of the Company's travel centers operate under the Stuckey's brand name. The Stuckey's specialty stores are family-oriented shops that feature the Stuckey's line of pecan confectioneries. Most of the Company's travel centers offer food and beverages, ranging from drinks and snack foods at some locations to full-service restaurants at others. The travel centers also offer brand-name gasoline such as Citgo, Exxon, Chevron and Diamond Shamrock. Two of the Company's locations are Exxon stations and eight of its locations are Citgo "superpumper" stations. The Company intends to continue marketing Citgo and Exxon products to other retailers in Arizona and New Mexico. BOWLIN's billboard advertising for its travel centers emphasizes the wide range of unique southwestern souvenirs and gifts available at the travel centers, as well as the availability of gasoline and food. Merchandise at each of the Company's stores is offered at prices intended to suit the budgets and tastes of a diverse traveling population. The merchandise ranges from inexpensive southwestern gifts and souvenirs to unique hand-crafted jewelry, rugs, pottery, kachina dolls and other gifts crafted especially for the Company by several Native American tribes. The Company's principal competition from truck stops includes Love's Country Stores, Inc.,Petro Corporation and Flying J. Outdoor Advertising Operations BOWLIN's outdoor advertising operations include leasing of sites, construction of display structures, sales of advertising space and
As Of: 01/11 00:00 ET
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