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TheStreet Open House

Star Bulk Carriers' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SBLK

Star Bulk Carriers Corp. (SBLK)

Q2 2012 Earnings Call

Aug 29, 2012 11:00 am ET

Executives

Spyros Capralos – President and Chief Executive Officer

Simos Spyrou – Chief Financial Officer

Analysts

Natasha Boyden – Global Hunter Securities, LLC

Chris Snyder – Sidoti & Company

Presentation

Operator

Thank you for standing by, ladies and gentlemen, and welcome to the Star Bulk Conference Call on the Second Quarter 2012 Financial Results. We have with us Mr. Spyros Capralos, President and Chief Executive Officer; and Mr. Simos Spyrou, Chief Financial Officer of the company.

At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. (Operator Instructions) I must advise you that this conference is being recorded today, Wednesday, August 29, 2012.

We now pass the floor to one of our speaker today Mr. Spyros Capralos. Please go ahead sir.

Spyros Capralos

Thank you, operator. I’m Spyros Capralos, President and Chief Executive Officer of Star Bulk Carriers, and I would like to welcome you to the Star Bulk Carriers’ first half and second quarter 2012 financial results conference call. Along with me today to discuss our financial results is our CFO, Mr. Simos Spyrou.

Before we begin, I kindly ask you to take a moment to read the Safe Harbor statement on slide number two of our presentation.

Let us now turn to slide number three of the presentation for a preview of our second quarter 2012 financial highlights in comparison to last year. In the three months ended June 30, 2012, gross revenues amounted to $21.8 million, representing a 4% reduction versus the same period of 2011. General and administrative expenses were reduced by 25% to $2.1 million in Q2 2012 versus $2.9 million in Q2 2011.

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