Texada Software Inc. Announces Results for the Quarter Ended June 30, 2009
August 26 2009 - 4:30PM
Marketwired
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 ended June 30, 2009.
For the quarter ended June 30, 2009, the Company generated total
revenues of $1.12 Ml. and a net income of $0.10 Ml. Adjusted EBITDA
(defined as income (loss) for the period adjusted for amortization,
accretion on convertible debt, interest expense, foreign exchange
loss (gain), stock based compensation expense, gain on lease
settlement and gain on sale of intangible asset) was $0.11 Ml.
These results compare to total revenues of $1.11 Ml., a net loss of
$0.21 Ml. and an Adjusted EBITDA loss of $0.18 Ml. in 2008.
Revenue for 2009 was consistent with revenue recorded in the
second quarter of 2008. Operating expenses declined by more than
$0.33 Ml. during the quarter primarily due to reductions in support
and sales and marketing expenses. A gain on the settlement of a
lease obligation on vacated office space of $0.06 Ml. in the
quarter reduced overall non-operating expenses to $0.03 Ml. for the
period compared to $0.31 Ml. in the second quarter in 2008.
The three month period ended June 30, 2009 marked the second
consecutive quarter of profitability for Texada resulting in income
for the first six months of 2009 of $0.13 Ml. compared a loss of
$0.29 Ml. in 2008, with the prior year's results including a gain
on the sale of an intangible asset of $0.40 Ml.
"We continue to be pleased with our operating performance",
commented President & CEO Brian Spilak. "The positive start to
the year which we saw in the first quarter continued into the
second quarter and we are cautiously optimistic that this positive
trend will continue for the balance of 2009. Our stated plan of
nurturing key customer relationships continues to bear fruit and we
will carry on with our endeavours to streamline our operations
while at the same time readying the organization for what we
anticipate will be improved macro business conditions in future
quarters."
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
----------------------------------------------------------------------------
2009 2008 2009 2008
----------------------------------------------------------------------------
Revenue $ 1,116 $ 1,114 $ 2,303 $ 2,455
----------------------------------------------------------------------------
Operating Income (Loss) (Adjusted
EBITDA) 112 (183) 214 5
----------------------------------------------------------------------------
Income (Loss) for the Period 102 (214) 131 (288)
----------------------------------------------------------------------------
Income (Loss) per Share $ 0.012 $ (0.024) $ 0.015 $ (0.033)
----------------------------------------------------------------------------
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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Corporate communications contact: Texada Software Inc.
Brian Spilak, President & CEO 1-800-361-1233 x - 2123
bspilak@texadasoftware.com
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