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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
  0.00 0.00% 0 -

Texada Software Inc. Announces Results for the Quarter Ended June 30, 2010

26/08/2010 10:54pm

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 second quarter and six month period
ended June 30, 2010. 


For the quarter ended June 30, 2010, the Company generated total revenues of
$1.12 Ml. and net earnings of $0.10 Ml. Adjusted EBITDA (defined as net earnings
(loss) for the period adjusted for amortization, accretion on convertible debt,
interest expense, foreign exchange loss (gain), stock based compensation expense
and gain on lease settlement) was $0.19 Ml. These results compare to total
revenues of $1.11 Ml., net earnings of $0.10 Ml. and Adjusted EBITDA of $0.11
Ml. in 2009. 


Revenue and operating expenses for 2010 were virtually the same as in the second
quarter of 2009. An increase in the proportion of total revenue from licenses
and a resulting decline in cost of revenue in the current quarter combined to
generate the Adjusted EBITDA improvement of $0.08 Ml. in 2010. Non-operating
expenses increased by $0.08 Ml. in Q2 2010 due to an expense reduction being
recorded in 2009 for a gain on the settlement of a lease which was not repeated
in the current year.


The three month period ended June 30, 2010 marked the six consecutive quarter of
profitability for Texada resulting in net earnings for the first six months of
2010 of $0.24 Ml. compared $0.13 Ml. in 2009. 


"Our operating results for the quarter ended June 30, 2010 were consistent with
2009 despite the continuing malaise which is evident in the market for new
software installations and the difficult environment in the equipment rental
industry. Given these marketplace factors, we continue to be pleased with our
operating performance", commented President & CEO Brian Spilak. "Our focus is to
ready the organization for what we anticipate will be improved macro business
conditions during 2011."


The Company's financial results are presented below:



----------------------------------------------------------------------------
Thousands of Canadian Dollars         Three Months Ended    Six Months Ended
 (except per share amounts)                     June 30,            June 30,
----------------------------------------------------------------------------
                                          2010      2009      2010      2009
----------------------------------------------------------------------------
Revenue                                $ 1,117   $ 1,116   $ 2,321   $ 2,303
----------------------------------------------------------------------------
Operating Income (Loss) (Adjusted                                           
 EBITDA)                                   189       112       416       214
----------------------------------------------------------------------------
Net Earnings for the Period                104       102       242       131
----------------------------------------------------------------------------
Income (Loss) per Share                 $ 0.01    $ 0.01    $ 0.03   $ 0.015
----------------------------------------------------------------------------



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 on the internet 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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