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TXS Texada Software Inc.

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Share Name Share Symbol Market Type
Texada Software Inc. TSXV:TXS TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Texada Software Inc. Announces Improved Operating Results for the Quarter Ended March 31, 2010

26/05/2010 12:39am

Marketwired Canada


Texada Software Inc. ("Texada") (TSX VENTURE:TXS), the premier provider of
equipment rental and mobile asset management software, announces today its
unaudited interim financial results for the three months ended March 31, 2010. 


For the quarter ended March 31, 2010, the Company generated total revenues of
$1.20 Ml. and net earnings of $0.14 Ml. Adjusted EBITDA (defined as net earnings
for the period adjusted for amortization, accretion on convertible debt,
interest expense, foreign exchange, and stock based compensation expense) was
$0.23 Ml. These results compare to total revenues of $1.19 Ml., net earnings of
$0.03 Ml. and an Adjusted EBITDA of $0.10 Ml. in 2009. 


Revenue in the current quarter was consistent with 2009 with a higher proportion
of license revenue achieved than service revenue compared to last year
contributing to a $0.08 Ml. improvement in gross profit in 2010. Operating
expenses declined by $0.05 Ml. during the quarter reflecting primarily personnel
cost savings. Non-operating expenses were $0.09 Ml. in the quarter compared to
$0.07 Ml. Q1 2009. 


"We are quite pleased with our financial results for Q1 2010", noted President &
CEO Brian Spilak. "We are excited to be able to get off with a good start from
an operational results perspective. Considerable time and effort was expended in
2009 to rebuild Texada's business and are pleased with the ongoing relationships
we have built with all our customers. Our strong foundation of industry leading
technology, personnel and customers bodes well for our future. The Texada team
remains focused on Meeting and Exceeding Customer Expectations and we are
actively looking at areas to expand our product offerings while continuing to
focus on our existing business."


The Company's financial results for the quarter are presented below:



----------------------------------------------------------------------------
Thousands of Canadian Dollars                                               
 (except per share amounts)              Three Months Ended March 31,       
----------------------------------------------------------------------------
                                                  2010                  2009
----------------------------------------------------------------------------
Revenue                           $              1,204  $              1,187
----------------------------------------------------------------------------
Operating Income (Adjusted EBITDA)                 227                   103
----------------------------------------------------------------------------
Net Earnings for the Period       $                139  $                 28
----------------------------------------------------------------------------
Net Earnings per Share            $              0.016  $              0.003
----------------------------------------------------------------------------



More information may be found at www.sedar.com.

About Texada Software Inc. (TSX VENTURE:TXS)

Texada Software Inc. is the premier provider of enterprise software solutions
for equipment rental and mobile equipment. Texada's solutions are fully flexible
and scalable to meet the unique needs of any sized operation and are backed by
proven implementation, services and support.


Texada's market-driven software products combine knowledge and best practices
from over 5,000 users worldwide, resulting in solutions that manage the complete
asset life-cycle from acquisition through to disposal. The Company's customers
enjoy the many benefits of this enhanced efficiency through better asset
utilization, effective location tracking, and optimized scheduling. 


Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or at
www.texadasoftware.com.


This news release may contain forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements are often, but not always, identified by the use of words such as
"seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that
an event or result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. These forward-looking statements involve
risk and uncertainties, including the difficulty in predicting acceptance of and
demands for new products, the impact of the products and pricing strategies of
competitors, delays in developing and launching new products, fluctuations in
operating results and other risks, any of which could cause results,
performance, or achievements to differ materially from the results discussed or
implied in the forward-looking statements. Many risks are inherent in the
industry; others are more specific to the Company. Investors Texada's ongoing
quarterly filings should be consulted for additional information on risks and
uncertainties relating to these forward-looking statements. Investors should not
place undue reliance on any forward-looking statements. Management assumes no
obligation to update or alter any forward-looking statements whether as a result
of new information, further events or otherwise.


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