TEXADA Software Inc. Announces Financial Results for Third Quarter 2008
November 28 2008 - 3:39PM
Marketwired
TEXADA Software Inc. (TSX VENTURE: TXS), the premier provider of
equipment rental and mobile asset management software, announces
today its unaudited interim financial results for the third quarter
ending September 30, 2008.
For the third quarter ended September 30, 2008, Texada generated
total revenues of $1,216,472 and a loss for the period of $111,832.
Adjusted EBITDA loss (defined as loss for the period adjusted for
amortization, accretion on convertible debt, interest expense,
foreign exchange losses, severance expense, stock based
compensation expense, and gain on sale on intangible assets) was
$33,146. These results were an improvement as compared to Q3 2007.
The third quarter in 2007 had revenues of $1,111,393, a loss for
the period of $647,505 and an Adjusted EBITDA loss of $363,702.
Revenue in the nine months ended September 30, 2008 was
$3,671,103, an improvement of 10% compared to the same nine months
of 2007. Loss for the nine months in 2008 was $399,775, a
significant improvement compared to a loss of $1,984,073 in the
nine months of 2007.
"The first nine months of 2008 have seen significant improvement
to the bottom line results," said Brian Spilak, incoming President
& CEO of Texada. "I'm excited for the opportunity to work with
the talented people at Texada and the numerous leading construction
rental organizations that rely on our systems every day. The
remainder of this year and 2009 will continue to be focused on
adding value to our existing customer base and on expansion into
the construction contractor market with our proven asset management
applications."
The Company's financial results are presented below:
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Thousands of Canadian Dollars Three Months Ended Nine Months Ended
(except per share amounts) September 30 September 30
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2008 2007 2008 2007
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Revenue $ 1,216 $ 1,111 $ 3,671 $ 3,348
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Operating Loss (33) (364) (28) (934)
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Loss for the Period (112) (648) (400) (1,984)
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Loss per share $ (0.001) $ (0.01) $(0.005) $ (0.04)
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More information may be found at www.sedar.com.
About Texada Software (TSX VENTURE: 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.
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. 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. Other than
as required by applicable law, management assumes no obligation to
update or alter any forward-looking statements whether as a result
of new information, further events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Corporate communications contact: TEXADA Software Inc.
Brian Spilak, President and CEO 1-800-361-1233 Email:
bspilak@TEXADAsoftware.com Website: www.texadasoftware.com
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