News Feed Item
Lonestar West Announces Q1 Results
|By Marketwired .
|May 20, 2014 07:26 PM EDT
SYLVAN LAKE, ALBERTA -- (Marketwired) -- 05/20/14 -- Lonestar West Inc. (TSX VENTURE:LSI) today announced the financial results for the quarter ended March 31, 2014.
Lonestar is pleased to announce it has achieved strong revenues and EBITDAC in the quarter ended March 31, 2014.
On November 12, 2013, Lonestar West Inc. ("Lonestar" or the "Company") announced that it changed its financial year-end from June 30, to December 31. This change in year-end allows the Company to provide continuous disclosure information on a comparable basis with its industry peer group. The March 31, 2014 results are the first quarter reported since the change in year end.
Highlights for the quarter ended March 31, 2014 include:
-- Revenues increased 31.2% to $11,518,959 from $8,776,667 in the previous
year equivalent quarter.
-- EBITDAC increased 36.5% to $2,124,961 from $1,556,431 in the previous
year equivalent quarter.
-- EBITDAC per basic share increased 11% to $0.10 from $0.09 in the
previous year equivalent quarter.
-- Income before taxes was $1,112,939 a $93,619 increase in comparison to
the $1,019,320 income before taxes in the previous year equivalent
-- Net income for the quarter was $834,704 a $72,486 increase in comparison
to the $762,218 net earnings in the previous year equivalent quarter.
A total of 38 units were added to the Company's fleet since March 31, 2013 for a total of 87 units at the end of the quarter. In addition, the geographical reach of the business has been expanded with the addition of four bases since March 31, 2013. The Company now operates 11 bases throughout Western Canada, California, Oklahoma, and Texas as of March 31, 2014. The increase in fleet size and base coverage was reflected with a 31.2% increase in gross revenues from the previous year equivalent quarter.
EBITDAC rose by 36.2% from the previous year equivalent quarter with a rise from $1,556,431 to $2,124,961. The increase in operating results can be credited to a strong quarter experienced by the Canadian division. EBITDAC for the Canadian division rose from $1,664,295 to $2,195,201. In addition, EBITDAC margin rose from 19.2% to 21.4% of revenues as increased operating efficiencies were realized.
Management is in the early stages of building its United States platform to sustain future growth. As a result the Company incurred costs associated with developing new bases and the hiring of key management personnel. This had a direct impact on the EBITDAC and earnings for the United States for the quarter ended March 31, 2014. Management anticipates the benefits relating to implementing its growth strategy in the United States will be experienced in future quarters.
"We had a strong first quarter and are pleased with our growth in revenues and EBITDAC. We are beginning to see the benefits of our fleet and base expansion and believe that we will see improved economics as critical mass is achieved in our United States operations. As of May 20, our United States revenues have already exceeded our first quarter United States revenues," commented James Horvath, CEO and President of Lonestar.
Subsequent to March 31, 2014 the Company has entered into a letter of intent to purchase an oilfield services company located in Western Canada. Total consideration in relation to the purchase would be $9,161,000 comprising of $2,000,000 in common share of Lonestar West Inc. and $7,191,000 combination of cash and a promissory note. Completion of the acquisition is conditional upon, among other things, the Company completing its remaining due diligence, execution of a definitive acquisition agreement, approval by its Board of Directors and all necessary regulatory approvals, including approval of the TSX Venture Exchange. In calendar 2013, the target company achieved EBITDAC of $2,610,000.
About Lonestar West
Based in Sylvan Lake, Alberta, Lonestar West Inc. operates a fleet of 89 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.
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences.
In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Aug. 27, 2016 02:30 AM EDT Reads: 1,990
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years?
This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 27, 2016 01:45 AM EDT Reads: 1,712
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions.
In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Aug. 27, 2016 01:30 AM EDT Reads: 2,047
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market.
In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 27, 2016 01:15 AM EDT Reads: 1,992
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things.
And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 27, 2016 12:45 AM EDT Reads: 2,926
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them?
In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Aug. 27, 2016 12:45 AM EDT Reads: 2,140
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 27, 2016 12:15 AM EDT Reads: 2,259
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 26, 2016 11:15 PM EDT Reads: 1,747
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323).
The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Aug. 26, 2016 10:45 PM EDT Reads: 2,061
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Aug. 26, 2016 10:00 PM EDT Reads: 1,848
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved.
In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 26, 2016 09:15 PM EDT Reads: 1,429
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data.
In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 26, 2016 07:15 PM EDT Reads: 416
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 26, 2016 07:00 PM EDT Reads: 657
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing.
In his session at 19th Cloud Expo, Raghav...
Aug. 26, 2016 07:00 PM EDT Reads: 706
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications.
Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Aug. 26, 2016 06:00 PM EDT Reads: 1,932