Texada Software Inc.
TSX VENTURE : TXS

Texada Software Inc.

April 24, 2007 18:13 ET

Texada Software Announces 2006 Year End Results

TORONTO, ONTARIO--(CCNMatthews - April 24, 2007) - Texada Software Inc. (TSX VENTURE:TXS) -

- Revenue up 6% to $4.003M

- Gross Margin up 5% to 88%

- New Product development well under way

Texada Software announces today its audited financial results for the full year ending December 31, 2006.

The Company for the year ended December 31, 2006 generated total revenues of $4,003,390 resulting in an operating income / (loss) before amortization, interest expense, foreign exchange, stock based compensation expense, severance expense and income taxes of ($1,299,155). These results compared to total revenues of $3,777,718 and an operating income / (loss) before amortization, interest expense, foreign exchange, stock based compensation expense, severance expense and income taxes of ($441,742) for 2005.

In late 2005, the company announced a substantial increase in R & D expenditures to invest in its core products. In 2006, R & D expenses totaled $2.132M as compared to $1.061M in 2005 and $697K in 2004. The company expects a higher level of R & D spending to continue for the next several quarters.

2006 saw both revenue and gross margin increase over 2005. Revenues increased 6% over 2005 while gross margin percentage improved by 5% to 88%.

"2006 was the first full year in which we focused on re-vitalizing our technology platform, a project begun in late 2005. We increased our R & D expense by over $1.1M from 2005's already elevated level, while increasing our operating loss by significantly less. We have also involved key customers early in the process to ensure what we are doing is what the market needs," said Don Whitbeck, CEO of Texada. "First looks at our new technology by industry leaders has confirmed that we will be delivering a compelling product."

The Company's financial results are presented below:



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Thousands of Canadian Dollars Three Months Ended Year Ended
(except per share amounts) December 31st December 31st
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2006 2005 2006 2005
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Revenue 1,005 1,104 4,003 3,778
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Operating Income / (Loss) (213) 16 (1,299) (442)
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Loss for the Period (646) (628) (3,174) (1,749)
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Loss per share (0.02) (0.02) (0.11) (0.06)
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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 SYSTEMATIC 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 For product and services information visit www.systematic.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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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