TXS Texada Software Inc.

TEXADA Software Inc. (TSX VENTURE:TXS), the premier provider of equipment rental
and mobile asset management software, announces today its audited financial
results for the full year ending December 31, 2007.


The Company for the year ended December 31, 2007 generated total revenues of
$4,036,444 and a loss for the year of $3,299,906. Adjusted EBITDA (defined as
loss for the year adjusted for amortization, accretion on convertible debt,
interest expense, foreign exchange losses, stock based compensation expense, and
severance expense) was a loss of $1,406,845. These results compare to total
revenues of $4,003,390, a loss for the year of $3,174,391 and an Adjusted EBITDA
loss of $1,299,155 for 2006.


Revenue for 2007 was marginally higher than revenue recorded for fiscal 2006.
Growth in revenue year-over-year was hampered by unfavourable exchange rates,
selected customer installations and deliveries deferred from Q4 of 2007 to Q1 of
2008 and a number of corporate changes, including refinancing of convertible
debt that consumed management's time in Q4.


During the fourth quarter, Texada took a number of steps towards improving its
balance sheet, steps towards becoming cash flow positive from operations and
refocusing on customers. These steps included converting the majority of its
$1,100,000 of existing debt to equity, raising and additional $500,000 of
capital through the issuance of new convertible debentures and in March 2008
selling one of its internet domain names for $400,000 in cash. Refocusing
software development activities on customer requirements and requests has
resulted in staff reductions in research and development and a more focused
development of cost-effective enhancements to the Company's technology.


"A significant portion of management's efforts in fourth quarter of 2007 were
spent making Texada a better and more focused company for 2008. Balancing the
needs of our key stakeholders - customers, investors and staff - is the best way
for us to improve our balance sheet and become cash flow positive." said Nigel
Miller, CEO of Texada. "Much of what we accomplished in late 2007 is helping us
to move forward in a more fiscally responsible way and deliver value to all of
our key stakeholders."




The Company's financial results are presented below:

----------------------------------------------------------------------------
Thousands of Canadian Dollars            Three Months            Year Ended
(except per share amounts)          Ended December 31           December 31
----------------------------------------------------------------------------
                                      2007       2006       2007       2006
----------------------------------------------------------------------------
Revenue                              $ 689    $ 1,005    $ 4,036    $ 4,003
----------------------------------------------------------------------------
Operating Loss                        (473)      (213)    (1,407)    (1,299)
----------------------------------------------------------------------------
Loss for the Period                 (1,316)      (646)    (3,300)    (3,174)
----------------------------------------------------------------------------
Loss per share                     $ (0.02)   $ (0.02)   $ (0.06)   $ (0.11)
----------------------------------------------------------------------------



More information may be found at www.sedar.com

About Texada Software (TSX VENUTE:TXS)

Texada Software Inc. is the premier provider of enterprise software solutions
for mobile equipment and rental management. 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 400 customers worldwide, resulting in solutions that manage the
complete asset life-cycle from acquisition through to disposal. Our customers
enjoy the benefits of enhanced efficiency through better asset utilization,
effective location tracking, and optimized scheduling.


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.

Texada Software Inc. (TSXV:TXS)
Historical Stock Chart
From Jun 2024 to Jul 2024

Texada Software Inc. (TSXV:TXS)
Historical Stock Chart
From Jul 2023 to Jul 2024