TEXADA Software Inc. Announces Financial Results for Second Quarter 2008
30 August 2008 - 6:56AM
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 second
quarter ending June 30, 2008.
For the second quarter ended June 30, 2008, Texada generated
total revenues of $1,113,611 and a loss for the period of $213,643.
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
$182,694. These results were an improvement as compared to Q2 2007,
despite a marginal 8% decline in revenue. The second quarter in
2007 had revenues of $1,208,735, a loss for the period of $879,156
and an Adjusted EBITDA loss of $241,895.
Revenue in the first six months of 2008 was $2,454,631, an
improvement of 10% compared to the first six months of 2007. Loss
for the first half of 2008 was $287,943, a significant improvement
compared to a loss of $1,336,568 in the first half of 2007.
"We continue to make steady improvements on our bottom line
operating results and are focused on delivering value to new
customers while renewing our relationships with our current
customers," said Nigel Miller, CEO of Texada. "We are excited about
the reaction we continue to receive about the improvements in our
technology and their added ability to help our customers improve
their financial performance. I am committed to see these
operational improvements turn into increased shareholder value for
our company."
The Company's financial results are presented below:
---------------------------------------------------------------------------
Thousands of Canadian Three Months Ended Six Months Ended
Dollars June 30 June 30
(except per share
amounts)
---------------------------------------------------------------------------
2008 2007 2008 2007
---------------------------------------------------------------------------
Revenue $ 1,114 $ 1,209 $ 2,455 $ 2,236
---------------------------------------------------------------------------
Operating Income (Loss) (183) (242) 5 (570)
---------------------------------------------------------------------------
Loss for the Period (214) (879) (288) (1,337)
---------------------------------------------------------------------------
Loss per share $ (0.002) $ (0.02) $ (0.003) $ (0.03)
---------------------------------------------------------------------------
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.
Nigel Miller, CEO 1-800-361-1233 x 2120 or (519) 840-2120 Email:
nmiller@TEXADAsoftware.com Website: www.texadasoftware.com
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