BI Spain.com - España y América Latina

GUELPH, ONTARIO -- (Marketwire) -- 04/24/12 -- Texada Software Inc. ("Texada") (TSX VENTURE: TXS), announces today its audited financial results for the year ended December 31, 2011.

For the year ended December 31, 2011, the Company generated total revenues of $7.7 Ml. and net earnings of $1.7 Ml. Adjusted EBITDA (defined as net earnings for the year adjusted for deferred income tax, amortization, gain on fair value increment on acquisition (net of deferred income taxes), business acquisition expenses, accretion on convertible debt, interest expense, foreign exchange, and stock based compensation expense) was $0.10 Ml. These results compare to total revenues of $4.5 Ml., net earnings of $0.28 Ml. and an Adjusted EBITDA of $0.70 Ml. in 2010. Gain on fair value increment on acquisition, net of deferred income taxes, contributed $3.2 Ml. to net earnings in 2011.

Revenue from Rolls was $3.2 Ml. of revenue in the year, with software generating $4.5 Ml., consistent with the revenue achieved in fiscal 2010. Operating expenses (excluding the effect of gain on fair value increment on acquisition and business acquisition expenses) increased by $3.7 Ml. in 2011 to $7.1 Ml. compared to $3.4 Ml. in 2010 primarily due to the addition of the Rolls business and an increase in strategic initiative expenses in 2011.

"The year ended December 31, 2011 marks a critical jump off point for Texada, launching a new trajectory of growth, creation of shareholder value and improved customer satisfaction in all of our operating business units" said Willie Swisher, Texada's CEO. He continued, "we are actively working on enhancing the Company's strategy and vertical integration processes. At the same time, we continue to build out our team and are working diligently on several other new business opportunities for the Company".

"With the introduction of our SaaS deployment option during 2011, we have seen steady activity with new installations within our existing verticals" said Texada's President, Brian Spilak. "The extension of the Company's relationships with several key accounts and PROIV was an important milestone for our software business unit and provides unique operating leverage to continue to profitably grow our user base worldwide. We are pleased with our operating performance in 2011 and look forward to bringing new technology and functionality to the user base to further streamline their operations."

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

----------------------------------------------------------------------------
Thousands of Canadian Dollars        Three Months Ended  Year Ended December
(except per share amounts)                 December 31,                  31,
----------------------------------------------------------------------------
                                        2011       2010       2011      2010
----------------------------------------------------------------------------
Revenue:
----------------------------------------------------------------------------
  Software and services              $ 1,069    $ 1,074    $ 4,460   $ 4,447
----------------------------------------------------------------------------
  Rental                               2,418          -      3,210         -
----------------------------------------------------------------------------
    Total revenue                    $ 3,487    $ 1,074    $ 7,670   $ 4,447
----------------------------------------------------------------------------
Operating Income (Adjusted EBITDA)        78        140         98       693
----------------------------------------------------------------------------
Net Earnings (Loss) for the Period  ($ 2,410)      ($ 2)   $ 1,676     $ 284
----------------------------------------------------------------------------
Net Earnings (Loss) per Share -
 Basic                               ($ 0.07)   ($ 0.01)    $ 0.08    $ 0.03
----------------------------------------------------------------------------
Net Earnings (Loss) per Share -
 Diluted                             ($ 0.08)   ($ 0.01)    $ 0.07    $ 0.03
----------------------------------------------------------------------------

The Company also announced that the Board of Directors has reached an agreement with three members of senior management, who are also directors, to settle certain debt owing to these individuals by the issuance of common shares of the Company (the "Shares for Debt Transaction"). Under this Shares for Debt Transaction, an aggregate amount of $112,000 owing by the Company pertaining to compensation for the year ended December 31, 2011 to these individuals will be settled by the issuance of approximately 533,000 common shares at a deemed price of $0.21 which is based upon the closing price of the Company's common shares of April 23, 2012 less a permitted discount of 25%. The Shares for Debt Transaction is subject to the receipt of all applicable regulatory approvals, including the TSX Venture Exchange. In addition, the Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a four-month hold period.

More information may be found at www.sedar.com.

About Texada Software Inc. (TSX VENTURE: TXS)

Texada Software Inc. operates in two complementary businesses, enterprise asset management software and equipment rental.

Texada's enterprise software business continues as the premier provider of 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 enterprise software's customers enjoy the many benefits of this enhanced efficiency through better asset utilization, effective location tracking, and optimized scheduling.

The Company, through its wholly owned US equipment rental subsidiary, currently conducts business as Rolls High Reach at four locations in Southern California with over 7,000 customers and a wide range of over 1,000 aerial and forklift fleet rental units.

Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or 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.