Good day, ladies and gentlemen and welcome to the Star Gas Fiscal 2014 Third Quarter Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this conference is being recorded. I would like to introduce your host for today’s call, Mr. Steve Goldman, Chief Executive Officer. Sir, you may begin.

Good morning and thank you for joining us today. With me today is Star’s Chief Financial Officer, Rich Ambury. After I provide some brief remarks about the quarter and first nine months of fiscal 2014, Rich will review the fiscal third quarter ended June 30, 2014 and year-to-date financial results. We will then take your questions. Before we begin, Chris Witty of our Investor Relations firm Darrow Associates will read the Safe Harbor statement. Please go ahead, Chris.

Thanks, Steve, and good morning. This conference call may include forward-looking statements that represent the Partnership’s expectations and beliefs concerning future events that involve risks and uncertainties and may cause the Partnership’s actual performance to be materially different from the performance indicated or implied by such statements. All statements, other than statements of historical facts, included in this conference call are forward-looking statements. Although, the Partnership believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Partnership’s expectations are disclosed in this conference call and in the Partnership’s annual report and Form 10-K for the fiscal year ended September 30, 2013. All subsequent written and oral forward-looking statements attributable to the Partnership or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements. Unless otherwise required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this conference call. I would now like to turn the call back over to Steve Goldman. Steve?

Thanks, Chris. Our fiscal third quarter is a very important period for Star Gas, because it provides a good opportunity for us to truly analyze our ongoing operating performance and perhaps more importantly grew the company through the eyes of the consumer. Since our performance is best assessed in the context of our financial statements and will be covered by Rich Ambury, I would like to focus on what our customers are telling us. And the most important reflection on our customers’ opinion, are our current attrition results. Our year-to-date net attrition was 0.7% as opposed to 2.5% for the same time last year. This has been another quarter of both improved customer retention and continued attraction of new homeowners to our expanded suite of services. Our managers and employees alike have clearly gotten the message that attracting and retaining new customers is the most important thing we can do to ensure more successful future for Star Gas. I could not be proud of the great improvement we have made in this area and these gains are even more noteworthy considering the relatively high oil prices. We have been extraordinarily focused on increasing training at all levels of our organization. We believe this is the best way to ensure we will continue to provide the best service in our industry. And in many ways, this is one of the busiest periods for our management team in our enthusiasm and offering our customers more than ever before is noticeable throughout our organization. While we did not close any new acquisitions during this quarter, we did work on seamlessly integrating and expanding the Griffith’s operations previously purchased. We were also busy looking at many new potential transactions so much so that we have designated a new Business Development Vice President position reporting…

Thanks Steve and good morning everyone. For the third quarter of fiscal 2014 our home heating oil and propane volume increased by 10% versus last year or 4.4 million gallons to 47 million gallons. The higher volume was primarily due to the impact of the Griffith acquisition and the lag effect of colder temperatures experienced during March 2014 as compared to March 2013 which more than offsets the impact of net customer attrition for the trailing 12 months of 1.7% in the base business, our home heating oil and propane margins declined by $0.027 year-over-year to approximately $0.95 per gallon. As a reminder the third quarter is the non-heating period with relatively low volume, so margins can be impacted quite easily. While home heating oil and propane margins decreased from the prior year’s comparable quarter which saw unusually high margins, the current results were in line with management’s expectations. Total gross profit rose by $6.6 million as higher home heating oil and propane volumes and an increase in other petroleum products largely attributable to the Griffith acquisition more than offsets the impact of lower home heating oil and propane margins. Delivery and branch expenses rose by 23% or $12.5 million primarily due to the Griffith acquisition, which accounted for over $8 million of the change. We also saw higher bad debt expense of $2.5 million related to the increased sales in the base business and the typical payment patterns of customers during the months subsequent to the heating season. In addition, we recorded $1.7 million charge to correct the understatement of certain sales and petroleum taxes all of which pertain to years prior to fiscal 2014 and should have been recorded in prior periods. We posted a net loss for the quarter of $9.6 million, $2 million higher than the…

Thanks, Rich. And at this time, we will be pleased to address any questions you may have. Operator, please open the phone lines for questions.

(Operator Instructions) Our first question comes from Andrew Gadlin with Odeon Capital Group. Your line is now open.

Hi, guys. This Elan Zanger stepping in for Andrew Gadlin today.

Good morning.

Good morning.

Good morning. My question is are you guys seeing any noticeable difference in terms of the collectibility of receivables for the newly acquired Griffith versus Star Gas?

No, we are not seeing any noticeable difference. And when we looked at the Griffith acquisition, we didn’t see anything strange in the receivable composition when we acquired the company.

Okay, alright, great. Thanks guys.

You are welcome.

(Operator Instructions) I am showing no further questions remarks, no further questions. I would like to turn the call back to Mr. Goldman for further remarks.

Thank you and thank you for taking the time to join us today and for your ongoing interest in Star Gas and we look forward to sharing our year end 2014 results with you in December.

Ladies and gentlemen, thank you for participating in today’s conference. This does conclude the program. You may all disconnect. Everyone have a great day.