Star Gas Prtnrs reports 1Q11 net income per share of $0.30, no estimates, vs $0.16 year earlier; sales increased 32% y/y to $459.5 mln (5.40 -0.05)

Star Gas Partners, L.P. SGU, a home energy distributor and services provider specializing in heating oil, today announced financial results for its fiscal 2011 first quarter, the three-month period ended December 31, 2010. For the fiscal 2011 first quarter, Star reported a 31.7 percent increase in total revenues to $459.5 million, compared with total revenues of $348.8 million in the year ago period, due to an increase in home heating oil and propane volume of 17.4 percent and higher selling prices. Home heating oil and propane volume for the fiscal 2011 first quarter increased by 16.7 million gallons to 112.7 million gallons, reflecting additional volume provided from acquisitions and colder temperatures, somewhat reduced by net customer attrition. Temperatures in Star's geographic areas of operations for the fiscal 2011 first quarter were 5.4 percent colder than the fiscal 2010 first quarter and 2.4 percent colder than normal, as reported by the National Oceanic Atmospheric Administration.