The third quarter of 2010 was the seventh consecutive profitable quarter for equipment rental software provider Texada Software, with net earnings of about CA $290,000, compared with CA $210,000 for the previous year’s third quarter, a 35-percent improvement. Texada’s net earnings improved 93 percent on a year-over-year basis.
For the third quarter, Texada posted total revenues of CA $1.05 million, a 6-percent year-over-year decline from $1.12 for the year-ago period. However, a decrease in costs meant an improvement in adjusted EBITDA.
“We continue to be pleased with our operating results which, on an adjusted EBITDA basis, are improved considerably compared to 2009 despite the ongoing difficult environment in the equipment rental industry,” said Texada president Brian Spilak. “We see some signs of some improvement in outlook in our key markets and are hopeful that 2011 will show a more robust level of activity for software expenditures in our marketplace.”
The company recently named board chairman Willie Swisher its new CEO.