SYLVAN LAKE, ALBERTA--(Marketwired - Apr 30, 2014) - Lonestar West Inc. (TSX VENTURE:LSI) today announced the financial results for the six month fiscal year ended December 31, 2013, the first report since its change of year-end.

Lonestar is pleased to announce it has once again achieved strong revenues in six month period ended December 31, 2013.

Highlights for the six month fiscal period ended December 31, 2013 include:

• Revenues were $17,581,642 for the six month period compared to $27,895,601 in the previous twelve -month fiscal year ended June 30, 2013.

• EBITDAC for the six month period was $1,331,938 compared to $4,181,410 in the previous twelve-month fiscal year ended June 30, 2013.

• EBITDAC per share for the six month period was $0.06 compared to $0.25 in the previous twelve month fiscal year ended June 30, 2013.

• Income before taxes was a negative $289,353 for the six month period in comparison to the $1,939,400 net income before taxes in the previous twelve month fiscal year ended June 30, 2013.

• Net income for the six month period was a negative $188,295 compared to net income of $1,446,429 in the previous twelve month fiscal year ended June 30, 2013.

The Company also reported results for the quarter ended December 31, 2013.

• Revenues increased 37.5% to $9,281,102 from $6,750,037 in the previous year equivalent quarter.

• EBITDAC decreased 63.4% to $420,304 from $1,148,576 in the previous year equivalent quarter.

• EBITDAC per share decreased 70.5% to $0.02 from $0.06 in the previous year equivalent quarter.

• Loss before taxes was $411,834 a $1,036,156 decrease in comparison to the $624,322 income before taxes in the previous year equivalent quarter.

• Net loss for the quarter was $280,276 a $748,598decrease in comparison to the $468,322 net earnings in the previous year equivalent quarter.

The Company once again experienced revenue growth during the six month period as result of management implementing its growth strategy. However, the Company also experienced increased operating and general and administrative expenses as a result of the implementation of the Company's growth strategy. Increased costs were related to housing expenses for staff, the hiring of additional head office and management personnel and professional fees relating to the new credit facility. These increased costs resulted in a net loss for the six-month period of $188,295.

Lonestar continues to see significant growth in its revenues with an increase of 37.5% for the three-month period ended December 31, 2013 over the prior year comparable quarter. While EBITDA declined on a comparable quarter basis, Management believes that it is making significant progress on the build-out of its US operations. Towards the end of the fourth quarter of 2013 and during the first quarter of 2014, key personnel were added to the operations in the United States and it is anticipated that their impact will be demonstrated in the following quarters.