SYLVAN LAKE, AB, Sept. 12, 2012 /CNW/ - Lonestar West Inc. (TSXV:LSI)
announced today that the first two months of the new fiscal year are
tracking to generate record revenues based on fleet expansion and
higher utilization rates.
Combined sales for July and August 2012 reached a record $3.9 million,
compared to $2.3 million in the previous year. The increase of 70% is
being driven by:
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
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."
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
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.
SOURCE: Lonestar West Inc.
For further information:
James Horvath, President and CEO (403) 887 - 2074
Bev Roome, CA, Chief Financial Officer (403) 887 - 2074
Investor Relations, The Howard Group Inc.
Jeff Walker (888) 221-0915
firstname.lastname@example.org (403) 221-0915