StealthGas Inc. Q1 2010 Earnings Call Transcript

StealthGas Inc. (GASS)

Q1 2010 Earnings Call Transcript

May 12, 2010 11:00 am ET

Executives

Andrew Simmons – CFO

Harry Vafias – President and CEO

Analysts

Natasha Boyden – Cantor Fitzgerald

Daniel Burke – Clarkson Johnson Rice

David Wiser [ph] – Mentor Partners [ph]

Presentation

Operator

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Good afternoon ladies and gentlemen, and welcome to the StealthGas Inc. first quarter 2010 results conference call. For your information, today's conference is been recorded. At this time, I would like to turn the conference over to Mr. Harry Vafias, President and Chief Executive Officer. Please go ahead, sir.

Harry Vafias

Thank you and good morning, everyone. Welcome to our conference call and web cast to discuss the results for the first quarter ended March 31st. I'm Harry Vafias, CEO of StealthGas, and I'd like to remind you please that we'll be discussing forward-looking statements in today's conference call and presentation. Regarding the Safe Harbor language, I would like to refer you to slide number one of this presentation as well as to our press release on our first quarter 2010 results. With me today is Andrew Simmons, our CFO. And if you need further info on the conference call or the presentation, please contact Andrew or myself.

Let us begin from slide number two, we would like to reiterate our stated business strategy, and later I would like to discuss the outlook for 2010 and beyond. Our primary objective is to continue to run a highly efficient and modern fleet on secure employment contracts with first-class charters that serve a very specific niche market. Our core LPG fleet has no correlation whatsoever to most of our shipping sectors, so it remains a surprise to us that our stock seems to continue to trade in tandem with the share movements of companies with vessels trading sectors completely unrelated to our core LPG market.