Texada Software, a major supplier of equipment rental and mobile asset management software, last week posted a 1.4-percent revenue increase for the first quarter of 2010, with CA $1.2 million (about U.S. $1.14 million) in revenue, compared with $1.19 million for the same period last year. Revenue in the quarter was consistent with 2009 with a higher proportion of license revenue achieved than service revenue compared to last year, which contributed to a $0.08 million improvement in gross profit for the recently concluded quarter.
Operating expenses declined by $0.05 million during the quarter, reflecting primarily personnel cost savings.
“We are quite pleased with our financial results for Q1 2010,” said president and CEO Brian Spilak. “We are excited to be able to get off with a good start from an operational results perspective. Considerable time and effort was expended in 2009 to rebuild Texada’s business and we are pleased with the ongoing relationships we have built with all our customers. Our strong foundation of industry-leading technology, personnel and customers bodes well for our future. We are actively looking at areas to expand our product offerings while continuing to focus on our existing business.”
Texada Software is based in Guelph, Ontario, Canada.
