|By Marketwired .||
|April 30, 2014 08:30 PM EDT||
SYLVAN LAKE, ALBERTA -- (Marketwired) -- 04/30/14 -- Lonestar West Inc. (TSX VENTURE: LSI) today announced the financial results for the six month fiscal year ended December 31, 2013, the first report since its change of year-end.
Lonestar is pleased to announce it has once again achieved strong revenues in six month period ended December 31, 2013.
Highlights for the six month fiscal period ended December 31, 2013 include:
-- Revenues were $17,581,642 for the six month period compared to $27,895,601 in the previous twelve -month fiscal year ended June 30, 2013. -- EBITDAC for the six month period was $1,331,938 compared to $4,181,410 in the previous twelve-month fiscal year ended June 30, 2013. -- EBITDAC per share for the six month period was $0.06 compared to $0.25 in the previous twelve month fiscal year ended June 30, 2013. -- Income before taxes was a negative $289,353 for the six month period in comparison to the $1,939,400 net income before taxes in the previous twelve month fiscal year ended June 30, 2013. -- Net income for the six month period was a negative $188,295 compared to net income of $1,446,429 in the previous twelve month fiscal year ended June 30, 2013.
The Company also reported results for the quarter ended December 31, 2013.
-- Revenues increased 37.5% to $9,281,102 from $6,750,037 in the previous year equivalent quarter. -- EBITDAC decreased 63.4% to $420,304 from $1,148,576 in the previous year equivalent quarter. -- EBITDAC per share decreased 70.5% to $0.02 from $0.06 in the previous year equivalent quarter. -- Loss before taxes was $411,834 a $1,036,156 decrease in comparison to the $624,322 income before taxes in the previous year equivalent quarter. -- Net loss for the quarter was $280,276 a $748,598decrease in comparison to the $468,322 net earnings in the previous year equivalent quarter.
The Company once again experienced revenue growth during the six month period as result of management implementing its growth strategy. However, the Company also experienced increased operating and general and administrative expenses as a result of the implementation of the Company's growth strategy. Increased costs were related to housing expenses for staff, the hiring of additional head office and management personnel and professional fees relating to the new credit facility. These increased costs resulted in a net loss for the six-month period of $188,295.
Lonestar continues to see significant growth in its revenues with an increase of 37.5% for the three-month period ended December 31, 2013 over the prior year comparable quarter. While EBITDA declined on a comparable quarter basis, Management believes that it is making significant progress on the build-out of its US operations. Towards the end of the fourth quarter of 2013 and during the first quarter of 2014, key personnel were added to the operations in the United States and it is anticipated that their impact will be demonstrated in the following quarters.
During the first quarter, Management has experienced a material increase of Request For Proposals for pipeline construction compared to last year. An increased level of activity is expected in the Canadian energy sector during the second and third quarters, which should directly have a positive impact on Lonestar operations. In addition, in line with the Company's growth strategy, substantial additions were made to Lonestar's fleet post year-end with the purchase of 11 HVAC units, 6 Vacuum units and 2 water trucks.
"Lonestar is going through the difficult process of building a North American platform for providing Hydrovac services" said James Horvath, CEO and President of Lonestar. "While our EBITDAC results were relatively poor for the last several quarters, management believes our underlying growth strategy is sound and anticipates the benefits of the increased costs will be realized in future quarters. Lonestar is continuing to focus on its growth strategy by increasing the size of our fleet and introducing our superior services to new customers and geographical areas. "
About Lonestar West
Based in Sylvan Lake, Alberta, Lonestar West Inc. operates a fleet of 87 HVAC and Vacuum trucks throughout Western Canada, California, Oklahoma, Texas and has recently expanded into Kansas. It is focused on profitably growing its HVAC services to become a major competitor in the North American market.
For more information please visit the Lonestar West website at www.lonestarwest.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Feb. 25, 2017 09:15 AM EST Reads: 2,104
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Feb. 25, 2017 09:00 AM EST Reads: 1,278
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Feb. 25, 2017 09:00 AM EST Reads: 3,607
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
Feb. 25, 2017 09:00 AM EST Reads: 5,206
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 25, 2017 08:30 AM EST Reads: 1,012
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Feb. 25, 2017 08:15 AM EST Reads: 7,969
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Feb. 25, 2017 08:00 AM EST Reads: 5,879
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Feb. 25, 2017 08:00 AM EST Reads: 5,730
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Feb. 25, 2017 07:30 AM EST Reads: 1,141
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Feb. 25, 2017 07:30 AM EST Reads: 5,920
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of patie...
Feb. 25, 2017 07:30 AM EST Reads: 1,057
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
Feb. 25, 2017 07:15 AM EST Reads: 1,819
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his general session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore...
Feb. 25, 2017 07:15 AM EST Reads: 1,446
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Feb. 25, 2017 07:00 AM EST Reads: 8,984
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Feb. 25, 2017 05:30 AM EST Reads: 1,495