Texada Software, a provider of equipment rental and mobile asset management software, last week announced its unaudited interim financial results for the third quarter ended Sept. 30, 2008. In the quarter, Texada generated total revenues of CAD $1.2 million, up slightly from $1.1 million in the third quarter of 2007. The company reported a loss of $111,832 in Q308 with an adjusted EBITDA loss of $33,146, an improvement from its loss of $647,505 and an adjusted EBITDA loss of $363,702 in the year-ago period.
Revenue in the nine months ended Sept. 30, was $3.7 million, a 10-percent improvement compared to the same nine months of 2007. Loss for the first nine months in 2008 was $399,775, a significant improvement compared to a loss of $1.9 million in the first nine months of 2007.
"The first nine months of 2008 have seen significant improvement to the bottom line results," said Brian Spilak, incoming president & CEO of Texada. "I'm excited for the opportunity to work with the talented people at Texada and the numerous leading construction rental organizations that rely on our systems every day. The remainder of this year and 2009 will continue to be focused on adding value to our existing customer base and on expansion into the construction contractor market with our proven asset management applications."
Headquartered in Guelph, Ontario, Texada Software provides 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.
