SYLVAN LAKE, AB, Oct. 27 /CNW/ -- Lonestar West Inc. (TSX(V):LSI) today announced its business performance for the fourth quarter of fiscal 2009 and first quarter of fiscal 2010.

Highlights:
-   generated revenue of $2.1 million in the three months ended
September 30, 2009 (a 39% increase over the comparable prior year
period), $1.2 million in the two months ended June 30, 2009 and
$5.5 million in the eleven months ended June 30, 2009,
-   realized positive EBITDAC of $530,000 and net earnings of $272,000
during the three months ended September 30, 2009, as compared to
$259,000 and $74,000, respectively, in the prior year, and
-   successfully closed debenture financing of $530,000 in July, 2009.

President and CEO James Horvath commented, "We are truly seeing the potential of our business plan as we grow our asset base and increase the utilization of our assets. We were successful in acquiring significant project-related work for our HVAC trucks and the increases in revenue drove higher income and EBITDAC. We have grown our customer base and continue to be a favoured supplier to our customers. We are confident that our focus on customer service will provide us the basis to keep the equipment working and move us towards our goal of becoming a major national competitor in the HVAC services business. We have the employees, equipment and management team that can contribute to achieving our growth plans."

For the three months ended September 30, 2009, Lonestar showed significant growth in Earnings Before Interest, Taxes, Depreciation and Amortization and Stock Based Compensation ("EBITDAC")(1) to $530,000 from $259,000 in the comparable prior year period.