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March 7, 2012 11:00 am ET
Karen Power - SVP and PFO
Gary Roth - President and CEO
Ron Stinebaugh - SVP, Finance and Acquisitions
Shawn Severson - JMP Securities
Michael Prouting - 10K Capital
JinMing Liu - Ardour Capital
Anthony Chen - Alc Capital
J. Dunlea - CPAs and Advisors
Good morning, and welcome to the Syntroleum Corporation fourth quarter and yearend 2011 conference call. (Operator Instructions) I would now like to turn the conference over to Karen Power, Senior Vice President and Principal Financial Officer.
Good morning and thank you for joining us today. Remarks for today's call will be presented by Karen Power, Senior Vice President and Principal Financial Officer, who will report the financial results for the year ended December 31, 2011, followed by Syntroleum's President and Chief Executive Officer, Gary Roth.
Before we begin our remarks, I would like to remind everyone that during this call, we will make certain forward-looking statements as well as use historical information. Words such as belief, estimate, expect, intend, plan, anticipate, could or should are intended to identify forward-looking statements. Although Syntroleum believes that expectations reflected in these forward-looking statements are reasonable, these statements involve risks and uncertainties. Future results may differ materially from those projected in these forward-looking statements. You are encouraged to refer to our SEC filings, including our most recent Annual Report on Form 10-K for a full disclosure of these risks and uncertainties.
For the year ended December 31, 2011, the company reported an operating loss of $3 million resulting from total revenues of $4.2 million and operating expenses of $7.2 million. The total net loss for the year ended December 31, 2011, was $16.9 million. $13.9 million in this loss related to Dynamic Fuels operation for the 12 months ended September 30, 2011. We do not consolidate Dynamic Fuels, instead we report using the equity method of accounting.