Transcript
Operator
Operator: Good day. And welcome to the REX American Resources Fiscal 2020 Third Quarter Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. . I would like to turn the conference over to Doug Bruggeman, Chief Financial Officer. Please go ahead. Douglas Bruggeman: Good morning and thank you for joining REX American Resources fiscal 2020 third quarter conference call. We'll get to our presentation and comments momentarily, as well as your question-and-answer session. But, first, I'll review the Safe Harbor disclosure. In addition to historical facts or statements of current conditions, today's conference call contains forward-looking statements that involve risk and uncertainties within the meanings of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the company's current expectations and beliefs, but are not guarantees of future performance. As such, actual results may vary materially from expectations. The risk and uncertainties associated with the forward-looking statements are described in today's news announcement and in the company's filings with the Securities and Exchange Commission, including the company's reports on Form 10-K and 10-Q. REX American Resources assumes no obligation to publicly update or revise any forward-looking statements. I have joining me on the call today, Stuart Rose, Executive Chairman of the Board, and Zafar Rizvi, Chief Executive Officer. I'll first review our financial performance and then turn the call over to Stuart for his comments. Sales for the quarter increased 43% primarily due to increased production levels. Ethanol sales for the quarter were based upon 74.6 million gallons this year versus 47.6 million gallons last year. We ran our consolidated plant at full capacity in the current year third quarter, while last year we had reduced the run rate at the NuGen plant based upon tight corn…