K-Sea Transportation Partners L.P. F3Q10 (Qtr End 03/31/10 Earnings Call Transcript

K-Sea Transportation Partners L.P. (KSP)

F3Q10 (Qtr End 03/31/10 Earnings Call

April 29, 2010 9:00 am ET

Executives

Jim Dowling - Chairman

Tim Casey - President and CEO

Terrence Gill - CFO

Analysts

Todd Fowler - KeyBanc Capital

Darren Horowitz -Raymond James

Erwin Levy - Henry Corp

Ron Londe - Wells Fargo

Selman Akyol - Stifel Nicolaus

Presentation

Operator

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Welcome to the fiscal third second quarter 2010 K-Sea Transportation Partners earnings call. My name is Solomon and I will be your event manager today. (Operator Instructions)

Now I would like to hand the conference over to your, Terrence Gill, Chief Financial Officer. Please proceed sir.

Terrence Gill

Good morning everyone and welcome to the K-Sea Transportation Partners third quarter fiscal 2010 investors and analysts call. Our Chairman, Jim Dowling, and our President and CEO, Tim Casey will join me today. Following a few comments by Tim and me, we will be available for questions.

As always, I must first remind you that this presentation contains forward-looking statements, which include any statements that are not historical facts and that these statements involve risks and uncertainties as detailed in our filings with the Securities and Exchange Commission that we suggest you read. If one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. We disclaim any intention or obligation to update publicly or revise such statements whether as a result of new information, future events or otherwise.

Now, on to the fiscal 2010 third quarter results. Earnings before interest, taxes, depreciation and amortization or EBITDA was $9.1 million, for the quarter ended March 31, 2010 a $13.3 million decrease as compared to $22.4 million for the third fiscal quarter of 2009.