Texada Software Inc.
TSX VENTURE : TXS

Texada Software Inc.

May 27, 2009 10:00 ET

Texada Software Inc. Announces Results for the Quarter Ended March 31, 2009

- Income of $0.03 Ml. compared to a loss of $0.07 Ml. in 2008 - Adjusted EBITDA (as defined below) of $0.10 Ml. compared to $0.19 Ml. in 2008 - Continued focus on reconnecting with key customers and on expense and cash control

GUELPH, ONTARIO--(Marketwire - May 27, 2009) - 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 three months ended March 31, 2009.

For the quarter ended March 31, 2009, the Company generated total revenues of $1.19 Ml. and a net income of $0.03 Ml. Adjusted EBITDA (defined as income (loss) for the period adjusted for amortization, accretion on convertible debt, interest expense, foreign exchange losses, severance payments, stock based compensation expense, lease closure expenses and gain on sale of asset) was $0.10 Ml. These results compare to total revenues of $1.34 Ml., a net loss of $0.07 Ml. and an Adjusted EBITDA of $0.19 Ml. in 2008.

Revenue for 2009 was 11.5% lower than revenue recorded in the first quarter of 2008 reflecting a reduction in the sale of new licenses in the quarter compared to 2008. Operating expenses declined by more than $0.17 Ml. during the quarter. A reduction in interest expense and accretion on convertible debentures of some $0.57 Ml. in 2009 offset by a gain on sale of a domain name realized in 2008 of $0.40 Ml. resulted in an overall decline in non-operating expenses of $0.19 Ml. in the quarter compared to Q1 2008.

The three month period ended March 31, 2009 was the first full quarter for Texada's new senior management team, led by President & Chief Executive Officer Brian Spilak. During the quarter, management completed a detailed review of the Company's entire business model, spent considerable time reconnecting with key customers and focused on expense and cash management.

"We are pleased with our financial results for Q1 2009", noted Brian Spilak. "In what we expect to be a challenging year, we are excited to be able to get off with a positive start. We have completed our review of the Company's operations and developed a sound plan for 2009. The Texada team remains focused on Meeting and Exceeding Customer Expectations and we will continue to devote substantial time on maintaining and enhancing our key customer relationships for the balance of the year."

The Company's financial results for the quarter are presented below:



---------------------------------------------------------------------------
Thousands of Canadian Dollars
(except per share amounts) Three Months Ended March 31
---------------------------------------------------------------------------
2009 2008
---------------------------------------------------------------------------
Revenue $ 1,187 $ 1,341
---------------------------------------------------------------------------
Operating Income (Adjusted EBITDA) 103 188
---------------------------------------------------------------------------
Income (Loss) for the Period $ 28 $ (74)
---------------------------------------------------------------------------
Income (Loss) per Share $ 0.003 $ (0.009)
---------------------------------------------------------------------------


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.

Contact Information