April 16, 2013

SYLVAN LAKE, AB, April 16, 2013 /CNW/ – Lonestar West Inc. (TSX.V: LSI) (“Lonestar” or the “Company”) announced that it has granted 100,000 incentive stock options to an officer of the Company and an aggregate of 65,000 incentive stock options to various employees of the Company under its Stock Option Plan. All options are exercisable at $2.50 per common share and expire on April 17, 2018.

ABOUT LONESTAR WEST
Based in Sylvan Lake, Alberta, Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 51 HVAC and vacuum trucks throughout Western Canada and recently expanded into California and Oklahoma. 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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April 01, 2013

SYLVAN LAKE, AB, April 1, 2013 /CNW/ – Lonestar West Inc. (TSX.V: LSI) (“Lonestar” or the “Company”) a premier provider of Hydrovac and Vacuum truck services is pleased to announce that it has acquired 100% interest in PLJ Enterprises, LLC (“PLJ”), an Oklahoma, USA based Hydrovac and Vacuum truck service provider.

PLJ started operations in 2010 and is currently operating a fleet of 2 Hydrovac and 2 Vacuum trucks out of their base in Elk City, Oklahoma. Lonestar has entered into employment agreements with key members of management, which is expected to provide for a seamless integration. The acquisition is expected to immediately add US$2.5 million in annual revenues, and bring Lonestar’s growing fleet to 50 units.

“The acquisition of PLJ is in line with our growth strategy of expanding into the USA and growing our fleet. PLJ has no geographical overlap with Lonestar and the acquisition will be beneficial in expanding our customer base and reducing the seasonality of Lonestar’s underlying business as the Oklahoma market is not affected by the weather conditions faced by our Canadian locations.” said James Horvath, CEO of Lonestar.

In consideration of the acquisition of all of the issued and outstanding Units of PLJ, the Corporation paid $900,000 cash on closing, issued a $600,000 unsecured promissory note (the “Note”) and issued 40,000 common shares of the Company at a price of $2.50 per share or $100,000 in the aggregate. The Note bears interest at the rate of 1.7% per annum and becomes due and payable in full on March 29, 2016.

The Company also announced that it has granted 20,000 incentive stock options of the Company to two employees for a total of 40,000 options under its Stock Option Plan. All options are exercisable at $2.50 per common share and expire on March 29, 2018.

ABOUT LONESTAR WEST
Based in Sylvan Lake, Alberta, Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 50 HVAC and vacuum trucks throughout Western Canada and recently expanded into California and Oklahoma. 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.

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February 25, 2013

SYLVAN LAKE, AB, Feb. 25, 2013 /CNW/ – Lonestar West Inc. (TSXV: LSI) today announced its business performance for the second quarter of fiscal 2013. Lonestar experienced another great quarter which included record gross revenues, growth in fleet size and expansion into the United States.

Highlights for the second quarter of fiscal year 2013 include:
 Revenues increased 48.8% to $6,750,036 from $4,535,173 in the previous year equivalent quarter.
 EBITDA increased 44.5% to $1,145,576 compared to $794,747 in the previous year equivalent quarter.
 EBITDA per share rose 26.8% to $0.07 from $0.05 in the previous year equivalent quarter.

 Net income before taxes of $624,321 in comparison to the $521,937 net income before taxes in the previous year equivalent quarter.
The fleet expansion program resulted in a 37.9% increase in fleet size as the Company went from 29 units available for work at the end of the second quarter of fiscal 2012 to 40 units available for work at the end of the second quarter of fiscal 2013.

Management estimates that approximately 7 HVACs will be added in the third quarter and approximately 10 will be added in the fourth quarter, thereby resulting in approximately 57 units in the fleet by the end of the fiscal year.

During the quarter the Company began operations into the United States and generated revenues of $293,152. Management views this expansion as an integral part of their growth strategy and is confident that operations in the US will contribute to the diversification of the Company’s business.

President and CEO James Horvath commented, “Lonestar West Inc. has continued the growth trend with increased revenues and EBITDA over the prior year quarters. Management’s ability to manage costs and the expansion of our operations within North America have had a direct impact on our net income. Our current strategy of growing our fleet and diversifying our operational locations has resulted in a strong quarter with expectations for additional growth for Lonestar in the future.”
As always, Lonestar is committed to customer service, safety and our employees which enable us to continue to grow into a major multi-national HVAC competitor. For complete details on the December 31, 2012 interim and June 30, 2012 year end audited financial statements, as well as the related MD&A’s, please refer to SEDAR at www.sedar.com.

BUSINESS DESCRIPTION
Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 46 HVAC and vacuum trucks throughout North America from its base in Sylvan Lake, Alberta. It is focused on profitably growing its HVAC services to become a major competitor in the North American market.
Lonestar’s shares trade on the TSX Venture Exchange under the symbol LSI.

Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

The post Lonestar Reports 2013 Quarter Two Financial Results appeared first on lonestarwest.com.

February 04, 2013

SYLVAN LAKE, AB, Feb. 4, 2013 /CNW/ – Lonestar West Inc. (TSXV: LSI) is pleased to announce that it has appointed Kristina Scade as its new Chief Financial Officer. Ms. Scade will join Lonestar effective February 4, 2013 on a full time basis and will replace Bev Roome who will continue in a transition role for an appropriate period.
Ms. Scade received a Bachelor of Commerce degree from the University of Alberta in 2008 while working for Carfinco Financial Group (previously Carfinco Income Fund) from 2004-2008. Most recently, Ms. Scade has been working for Grant Thornton LLP in Edmonton, Alberta where she completed the Chartered Accountants School of Business designation in 2012. While at Grant Thornton she gained extensive experience in both the public and private sectors in a variety of industries such as oilfield supply, mineral exploration, utilities (water, gas and electricity) supply, investment funds and manufacturing, among others.
“As Lonestar continues its strong growth going forward, hiring a full time CFO was the next step in building a solid foundation to an already strong management team,” said James Horvath, CEO of Lonestar. “Kristina will make a great addition to our growing team and we would like to thank Bev Roome for her strong contributions and efforts in the past.”
Business Description
Base in Sylvan Lake, Alberta, Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 42 HVAC and vacuum trucks throughout Western Canada and recently expanded into California. It is focused on profitably growing its HVAC services to become a major competitor in the North American market.
Lonestar’s shares trade on the TSX Venture Exchange under the symbol LSI.
Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

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January 14, 2013

SYLVAN LAKE, AB, Jan. 14, 2013 /CNW/ – Lonestar West Inc. (TSXV: LSI) today announced its recent expansion into The United States. The Company opened an office in late 2012 and now has several Hydrovac trucks operating in the State of California.

Management’s decision was based on an opportunity to expand into the California market with the assistance of a highly experienced individual who had considerable involvement in managing Hydrovac operations for infrastructure projects. As such, Lonestar West has been solely focused on infrastructure projects in the state and is running near capacity.

“We are extremely pleased with the results of our California operations to date,” said James Horvath, CEO of Lonestar. “This expansion fits our long term plan for continued growth and diversification of our operations while continuing to grow at a prudent level.”

Lonestar expects its fleet to grow to approximately 50 trucks by early April with the delivery of 8 additional Hydrovac trucks. Current utilization of the fleet continues to run near full capacity.

Business Description

Based in Sylvan Lake, Alberta, Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 42 HVAC and vacuum trucks throughout Western Canada and recently expanded into California. It is focused on profitably growing its HVAC services to become a major competitor in the North American market.

Lonestar’s shares trade on the TSX Venture Exchange under the symbol LSI.

Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

The post New Opportunities Drive Lonestar West Expansion Into U.S. Market appeared first on lonestarwest.com.

SYLVAN LAKE, AB, Nov. 29, 2012 /CNW/ – Lonestar West Inc. (TSXV: LSI) today announced its business performance for the first quarter of fiscal 2013. Lonestar experienced another great quarter which included record gross revenues, growth in fleet size and improved utilization rates.
Highlights for the first quarter of fiscal year 2013 include:
 Revenues increased 61.5% to $6,156,643 from $3,812,418 in the previous year equivalent quarter.
 EBITDAC increased 120.4% to $1,267,231 compared to $574,893 in the previous year equivalent quarter.
 EBITDAC per share rose 100.0% to $0.08 from $0.04 in the previous year equivalent quarter.
 Net income of $664,585 in comparison to the $318,027 net income in the previous year equivalent quarter.
The fleet expansion program resulted in a 44.0% increase in fleet size as the Company went from 25 units available for work at the end of the first quarter of fiscal 2011 to 36 units available for work at the end of the first quarter of fiscal 2013.
On November 2, 2012, the Company issued 2,172,928 common shares at $1.40 per share for proceeds of $3,042,100. The funds raised were utilized for working capital and fleet acquisition. Management estimates that approximately four HVACs will be added in the second quarter and approximately seven will be added in the third quarter, thereby resulting in approximately 47 units in the fleet by the end of the third quarter.
President and CEO James Horvath commented, “We have had another profitable quarter for the first three months of fiscal 2013. The utilization rates for our fleet have all increased in relation to the prior year quarter which had a direct impact on our profits. Our current strategy of growing our fleet has resulted in a strong quarter with expectations for additional growth for Lonestar in the future.”
As always, Lonestar is committed to customer service, safety and our employees which enable us to continue to grow into a major multi-national HVAC competitor. For complete details on the September 30, 2012 interim and June 30, 2012 year end audited financial statements, as well as the related MD&A’s, please refer to SEDAR at www.sedar.com.
Business Description
Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 36 HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focused on profitably growing its HVAC services to become a major competitor in the multi-national market.
Lonestar’s shares trade on the TSX Venture Exchange under the symbol LSI.
Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

The post Lonestar Reports 2013 Quarter One Financial Results appeared first on lonestarwest.com.

TORONTO, ONTARIO–(Marketwire – Nov. 20, 2012) – Lonestar West Inc. (TSX VENTURE:LSI) (“Lonestar” or the “Company”) announced that it has granted 25,000 incentive stock options to an officer of the Company and an aggregate of 280,000 incentive stock options to various employees of the Company under its Stock Option Plan. All options are exercisable at $1.60 per common share and expire on November 20, 2017.

James Horvath, President, commented “Lonestar is very proud of the strong management team we have created and feel they are critical to our continued success. By issuing these stock options we further strengthen our team’s dedication to Lonestar and commitment to our success.”
About Lonestar West

Lonestar West Inc. (www.lonestarwest.com) currently operates a fleet of HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focussed on profitably growing its HVAC services to become a major national competitor in the market area.
Lonestar’s shares trade on the TSX(Venture) Exchange under the symbol LSI.

Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

The post Lonestar Grants Stock Options appeared first on lonestarwest.com.

Lonestar continued its strong performance throughout the 2012 fiscal year including growth in fleet size, revenue and operating profit. The results reflect the growth in its Canadian HVAC and Vacuum truck businesses driven in part by favourable commodity prices and strong infrastructure development activities in Western Canada.

HIGHLIGHTS FOR THE FISCAL YEAR INCLUDE:

• Revenues increased 67.0% to $18,618,413 from $11,146,314 in the previous fiscal year.
• EBITDAC increased 73.3% to $3,016,609 compared to $1,741,146 in the previous fiscal Year.
• EBITDAC per share rose 53.8% to $0.20 from $0.13 in the previous fiscal year.
• Net income of $1,308,708 in comparison to the $514,477 net income in the previous fiscal year.
  

The fleet expansion program resulted in a 32.0% increase in fleet size as the Company went from 25 units available for work at the end of fiscal 2011 to 33 units available at the end of fiscal 2012.

Subsequent to the Fiscal 2012 year end, the Company purchased another four units and disposed of one, which has increased the number of units to 36. The Company also incorporated two subsidiaries in the USA with expectations of expanding its geographic market in the future.

HIGHLIGHTS FOR FOURTH QUARTER INCLUDE:

The Company generated revenues of $4,442,167 in the three months ended June 30, 2012, an increase of 64.9% over the prior year equivalent period revenue of $2,694,146. The EBITDAC for the three months ended June 30, 2012 increased to $380,644 over the $165,688 in the prior year equivalent period. The net loss of $197,825 for the three months is an increase in net earnings in comparison to the net loss of $343,315 in the prior year equivalent period.

President and CEO James Horvath commented, “We have had another remarkable year in fiscal 2012 resulting in increases in both revenue and EBITDAC over the prior fiscal year. The utilization rates of our VAC and HVAC fleets have increased substantially during fiscal 2012 which had a direct impact on our profits. During this 2012 fiscal year we placed a strong emphasis on building our earning potential by building our fleet; and I believe the company’s year-end performance shows the success of our strategy. As always, Lonestar is committed to customer service, safety and our employees which enable us to continue to grow into a major national HVAC competitor.”

 Financial Results (000′s except per share data) 

(i) EBITDAC means earnings before interest, taxes, depreciation, amortization and stock based compensation and for the purposes of analyzing Lonestar is equal to earnings before income taxes plus interest on debt plus depreciation plus share-based payments. EBITDAC is not a recognized measure under International Financial Reporting Standards (“IFRS”). Management believes that in addition to net earnings, EBITDAC is a useful supplemental measure as it provides an indication of the results generated by the Company’s primary business activities prior to consideration of how those activities are financed, depreciated or how the results are taxed. Readers should be cautioned, however, that EBITDAC should not be construed as an alternative to net earnings determined in accordance with IFRS or as an indicator of Lonestar’s performance. Lonestar’s method of calculating EBITDAC may differ from other organizations and may not be comparable to measures used by other organizations.

For complete details on the audited consolidated year-end financial statements and MD&A for the June 30, 2012 year-end, please refer to SEDAR at www.sedar.com
 

BUSINESS DESCRIPTION

Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 36 HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focused on profitably growing its HVAC services to become a major national competitor in the market area.

Lonestar’s shares trade on the TSX Venture Exchange under the symbol LSI.

Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

The post Lonestar West Reports Record Year-End Results appeared first on lonestarwest.com.

• Higher utilization rates of the HVAC and Vacuum ; and,
• Fleet growth from 24 to 36 trucks comparing last year to this year at the same time.

Actual results from Q1/F2013 (Sept. 30) will be released in November. Results for F2012 (June 30) will be released later this month.
In addition, the mix in sales between corporate units and lease operator units has shifted from 61% corporate sales to 71% corporate sales. This shift will result in substantially increased operating margins.

The HVAC fleet currently numbers 29 trucks consisting of 23 corporate trucks and 6 lease operated trucks, which is an increase of 12 corporate-owned trucks and one less lease operated truck from a year ago.

The Vacuum truck fleet has increased by one from a year ago, to a total of 7 units. The current fleet total is 36 trucks.
President and CEO James Horvath commented, “Lonestar stated that it would have 40 trucks in operation by the end of the calendar year and we are on track to achieve this goal. We are optimistic about the performance of the business and anticipate a strong ending to the quarter based on the current level of revenue and our order book.”

BUSINESS DESCRIPTION

Lonestar West Inc. (www.lonestarwest.com) currently operates a fleet of HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focussed on profitably growing its HVAC services to become a major national competitor in the market area.

Lonestar’s shares trade on the TSX(Venture) Exchange under the symbol LSI.

Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

The post Strong Start to F2013 for Lonestar West appeared first on lonestarwest.com.

Company continues to experience strong earnings and fleet expansion

SYLVAN LAKE, AB, May 24, 2012 /CNW/ – Lonestar West Inc. (TSXV: LSI) today announced continued strong performance for the 2012 third fiscal quarter ended March 31, 2012 including growth in fleet size, revenue and operating profit. The results reflect the growth in its Canadian HVAC and Vacuum truck businesses driven in part by favourable commodity prices and strong infrastructure development activities in Western Canada.

Highlights for the quarter include:

• Revenues increased 45.5% to $5,828,653 from $4,005,121 in the previous comparable quarter.
• EBITDAC increased 50.4% to $1,268,324 compared to $843,157 in the previous comparable quarter. 
• EBITDAC per share rose 30.8% to $0.085 from $0.065 in the previous comparable quarter.

For the three months ended March 31, 2012 gross revenues were $5,828,653 an increase of 45.5% in comparison to $4,005,121 in the previous year’s comparable quarter, EBITDAC increased 50.4% in the current quarter to $1,268,324 ($0.085 per weighted average share) in relation to the previous year’s comparable quarter of $843,157 ($0.065 per weighted average share). Net earnings for the three month period ended March 31, 2012, increased to $666,566 compared to the net earnings of $569,269 for the comparable quarter. Factors driving the improvement in performance included enhanced utilization rates for the HVAC and Vacuum units and an increase in fleet size.

Revenues for the first nine months of the 2012 fiscal year were $14,176,245 and increase of 67.0% over the $8,489,732 for the first nine months of fiscal 2011. The EBITDAC for the first nine months ended March 31, 2012 was $2,635,964 compared to $1,553,206 in the first nine months of 2011. Net earnings for first nine months ended March 31, 2012, increased to $1,506,532 compared to $857,805 for the first nine months of the 2011 fiscal year.

To satisfy strong customer demand, Lonestar implemented a fleet expansion program during the last two quarters deploying internally generated cash flow and available capital sources. As of the end of the quarter, the total fleet consisted of 33 trucks The HVAC fleet increased to 25 trucks including 17 corporate trucks and 8 lease operated trucks, an increase of 3 corporate-owned trucks and 1 lease operated truck since December 31, 2011. In addition, the Vacuum truck fleet increased by 2 trucks in the second quarter of 2012 to a total of 8 trucks.

President and CEO James Horvath commented, “Since the end of the December 31, 2011 quarter we increased our corporate-owned HVAC fleet by 10% and engaged another lease-operator unit to bring our total number of HVAC and Vacuum units available to Lonestar to 33 units. Our strategy is to add to our fleet while maintaining a high overall utilization rate. We anticipate receiving additional HVAC trucks over the next several quarters, and are actively seeking out acquisitions to grow our fleet.”

For complete details on the interim financial statements and MD&A for the 2012 Third Quarter please refer to SEDAR at www.sedar.com.

BUSINESS DESCRIPTION

Lonestar West Inc. (www.lonestarwest.com) operates a fleet of 33 HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focused on profitably growing its HVAC services to become a major national competitor in the market area.

Lonestar’s shares trade on the TSX(Venture) Exchange under the symbol LSI.

Certain information and statements contained herein constitute forward-looking information, including the anticipated costs associated with the purchase of capital equipment, expectations concerning the nature and timing of growth within the business operated by Lonestar, expectations respecting the competitive position of such business, expectations concerning the financing of future business activities and statements as to future economic and operating conditions. Readers should review the cautionary statement respecting forward-looking information that appears in Lonestar’s complete MD&A.

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