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     443  0 Kommentare Lonestar West Announces Q3 2015 Financial Results

    SYLVAN LAKE, ALBERTA--(Marketwired - Nov. 30, 2015) - Lonestar West Inc. (TSX VENTURE:LSI) today announced the financial results for the three and nine month periods ended September 30, 2015.

    Highlights for the three months ended September 30, 2015 include:

    • Revenues increased 8.5% to $14,123,380 from $13,016,590 in the previous year equivalent period.
    • Gross margin1 decreased to 25.0% from 26.1% in the previous year equivalent period.
    • EBITDAC2 decreased 36.0% to $1,562,412 from $2,442,928 in the previous year equivalent period.
    • EBITDAC3 per basic share decreased 36.9% to $0.053 from $0.084 in the previous year equivalent period.
    • Loss before taxes was $709,713, a decrease of $1,737,715 in comparison to income before taxes of $1,028,002 in the previous year equivalent period.
    • Net loss for the period was $503,531, a decrease of $1,274,531 in comparison to net income of $771,000 in the previous year equivalent period.

    The Company achieved EBITDAC2 of $1,562,412 for the quarter ended September 30, 2015, which is a decrease from $2,442,928 for the prior year equivalent period. The EBITDAC margin was 11.1% for the quarter ended September 30, 2015 as compared to 18.8% for the prior year comparable period. The decrease in EBITDAC is due primarily to higher selling, general and administrative expenses, which offset higher revenues and gross margin for the period. The higher selling, general and administrative expenses were due primarily to $863,382 of bad debt expense recorded during the period, on account of outstanding accounts receivable balances where the collections of certain accounts has been determined to be unlikely.

    Highlights for the nine months ended September 30, 2015 include:

    • Revenues increased 11.7% to $38,079,961 from $34,091,472 in the previous year equivalent period.
    • Gross margin1 decreased to 23.5% from 23.6% in the previous year equivalent period.
    • Normalized EBITDAC2 decreased 18.4% to $4,389,551 from $5,376,304 in the previous year equivalent period.
    • Normalized EBITDAC3 per basic share decreased 30.2% to $0.15 from $0.215 in the previous year equivalent period.
    • Loss before taxes was $1,005,228, a decrease of $2,969,176 in comparison to income before taxes of $1,963,948 in the previous year equivalent period.
    • Loss for the period was $1,074,536, a decrease of $2,547,496 in comparison to net earnings of $1,472,960 in the previous year equivalent period.

    The Company achieved normalized EBITDAC2 of $4,389,551 for the nine month period ended September 30, 2015, which is a decrease from $5,376,304 for the prior year equivalent period. The normalized EBITDAC margin was 11.5% for the nine month period ended September 30, 2015 as compared to 15.8% for the prior year comparable period. The decrease in EBITDAC is due primarily to higher selling, general and administrative expenses, which offset higher revenues and gross margin for the period. The higher selling, general and administrative expenses were due primarily to the $1,203,514 of bad debt expense recorded during the period.

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    Lonestar West Announces Q3 2015 Financial Results SYLVAN LAKE, ALBERTA--(Marketwired - Nov. 30, 2015) - Lonestar West Inc. (TSX VENTURE:LSI) today announced the financial results for the three and nine month periods ended September 30, 2015. Highlights for the three months ended September …