Lonestar West Announces Q2 2015 Financial Results
(firmenpresse) - SYLVAN LAKE, ALBERTA -- (Marketwired) -- 08/22/16 -- (TSX VENTURE: LSI) - Lonestar West Inc. today announced the financial results for the three and six month periods ended June 30, 2016.
Highlights for the three months ended June 30, 2016 include:
The Company achieved normalized EBITDAC2 of $1,252,592 for the quarter ended June 30, 2016, which is an increase from $584,432 for the prior year equivalent period. The normalized EBITDAC margin was 11.8% for the quarter ended June 30, 2016 as compared to 5.5% for the prior year comparable period. The increase in EBITDAC is due primarily to the reduction of operating expenses as revenues remained consistent.
Highlights for the six months ended June 30, 2016 include:
The Company achieved normalized EBITDAC2 of $2,161,745 for the six month period ended June 30, 2016, which is a decrease from $2,827,139 for the prior year equivalent period. The normalized EBITDAC margin was 9.6% for the six month period ended June 30, 2016 as compared to 11.8% for the prior year comparable period. The decrease in EBITDAC is due primarily to lower revenues in the first quarter of 2016 with only a marginal decrease in the operating costs as the cost savings implemented did not take full effect until the second quarter of 2016.
"The Company is pleased with the growth in both the gross margin percentage and normalized EBITDAC, considering the ongoing depressed commodity prices in the second quarter of fiscal 2016," commented James Horvath, President and CEO of Lonestar. "Our diversification efforts have been paying off, and we will continue to focus on expanding into underserviced areas."
The Company is continuing to focus on cost control while maintaining superior services to its customer base. In addition, the Company is continually assessing the location of its fleet and redeploys assets to areas less impacted by the energy markets.
About Lonestar West
Based in Sylvan Lake, Alberta, Lonestar West Inc. operates a fleet of 158 Hydrovac, Vacuum and Auxiliary units throughout Western Canada, Ontario, California, and the Southern United States. 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
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This News Release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. In particular, this News Release contains forward-looking statements relating to: demand for the Company''s services and general industry activity level; the Company''s growth opportunities; and expectations regarding the Company''s revenue, normalized EBITDAC and equipment utilization. Lonestar believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Various material factors and assumptions are typically applied in drawing conclusions. Specific material factors and assumptions include, but are not limited to:
Readers are cautioned that these factors are difficult to predict. Accordingly readers are cautioned that the actual results achieved will vary from the information provided herein and the variations may be material. Readers are also cautioned that the list of factors above are not exhaustive. Before placing reliance on any forward-looking statements to make decisions with respect to an investment in securities in Lonestar, prospective investors and others should carefully consider the factors identified above and other risks, uncertainties and potential changes that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Lonestar''s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks identified in Lonestar''s annual information form and management discussion and analysis for the year ended December 31, 2014 (the "MD&A"), which are available for viewing on SEDAR at . In addition, the forward-looking statements contained in this News Release are made as of the date of this News Release. Lonestar does not undertake any obligation to publicly update or to revise any forward-looking statements except as expressly required by applicable securities laws. The forward-looking statements contained in this Press Release are expressly qualified by the cautionary statements contained herein.
Notes:
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.
Contacts:
Lonestar West Inc.
James Horvath
President & CEO
403-887-2074
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Datum: 22.08.2016 - 13:59 Uhr
Sprache: Deutsch
News-ID 1453883
Anzahl Zeichen: 3714
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SYLVAN LAKE, ALBERTA
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Oil & Gas
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