Syntroleum Corporation Q1 2009 Earnings Call Transcript

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2009-04-27 18:22:19.0

Tags: Call Transcript, Earnings, Transcript, Tyson, Financial Accounting, Balance Sheets, Operational Accounting, Finance, Financial Statements, Seeking Alpha, Syntroleum Corp.

Question-and-Answer Session

Operator

Your first question comes from Richard Colbeck - Private Investor.

Richard Colbeck - Private Investor

Yes, I’d like to know, if you’ve had any response from either the Air Force or Department of Energy about, coal to liquid plant in 2009 or 2010?

Gary Roth

This is Gary Roth. The answer to that question is, no. We’ve got no response.

Operator

Your next question comes from [Daniel Chung] - CDCM.

Daniel Chung - CDCM

I was wondering on your balance sheet, there is $25 million in deferred revenues. Can you break that down into different companies? Is there like $12 million for Sinopec, how about the rest?

Gary Roth

Well Mandy is our Controller. Burns, let Mandy answer that question for us.

Mandy

We have $6 million in deferred revenue for Sinopec and the remaining of deferred revenue pertains to a license with the Commonwealth of Australia that we’ve had on our books for quite a while and that’s actually denominated in Australian dollars and that’s what causes a lot of foreign currency translation costs.

Operator

Your next question comes from Jon Stewart - Shareholder.

Jon Stewart - Shareholder

Are you giving any guidance on earnings per share for the 12 months?

Gary Roth

This is Gary Roth. John, no we’re not.

Operator

Your next question comes from Michael Siegel - Private Investor.

Michael Siegel - Private Investor

I was wondering, if you guys could clarify some information on the exercising of the warrants by Tyson and the NOL and what affect those might have on those?

Gary Roth

This is Gary Roth. Tyson has exercised its warrants and now owns the eight million shares. At our current level, the NOLs are not affected by the Tyson acquisition of shares. We have given notification and if anybody wishes to go above 5% shareholdings, we request that they contact the company to avoid any issues related to us losing our NOLs.

Operator

(Operator Instructions) At this time, I’m showing no future questions.

Gary Roth

Once again, thank you for joining on us on our today’s conference call. If you have any additional questions, please contract Ron Stinebaugh at 981-764-3406. We appreciate your interest in Syntroleum.

Operator

Thank you, ladies and gentlemen. This concludes today’s conference. Thank you for participating. You may all disconnect.

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