This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Welcome to the StealthGas Inc. second quarter 2012 results call. At this time all parties are in a listen-only mode. (Operator Instructions) I would now like to turn the conference over to your speaker today Harry Vafias. Please go ahead, sir.
Thank you and good morning, everyone. Welcome to our conference call and webcast to discuss the results for the second quarter and six months 2012. I’m Harry Vafias, CEO of StealthGas, and I would like to remind you that we will be discussing forward-looking statements in today’s conference call and presentation.
Regarding the Safe Harbor language, I would like you to refer to slide number one of this presentation as well to our press release on our second quarter and six month results.
With me today is Konstantinos Sistovaris, CFO, and if you need any further info on the conference call or the presentation, please contact to Konstantinos or myself.
Before I start with the slides, I would like to comment on the results we released today which highlight a considerable year-over-year improvement in our operations.
Our income from operations went from 1.2 million last year to about 10 million this year, a 740% increase, I repeat 740% increase. But even looking at our bottom line not a net income of $0.35 a share, but our adjusted figure of $0.31 a share that excludes the losses and gains on [western] sales and hedging compared with a $0.16 a share for the same quarter last year which was close to a 100% increase, even compared to the previous quarters adjusted EPS of $0.25 is a 25% improvement.