HOUSTON, TEXAS--(Marketwire - Oct. 15, 2012) - Noble Iron Inc. ("Noble" or the "Company") (TSX VENTURE:NIR) today announced that a significant software customer will migrate their Texada Software serviced locations to the software platform currently being utilized within their parent company's business. The Company plans to assist the customer with this software migration, anticipated to be completed by the end of the second quarter of 2013.
This software customer's recurring revenue with the Company equates to approximately 3% of the Company's 2012 gross revenues, while their 2012 one-time new license and associated service revenue represent approximately 6% of the Company's 2012 gross revenues.
Brian Spilak, President of Texada Software, stated, "Texada's initiatives over 2012 have included the development of unique SaaS (Software as a Service) applications offered to a larger breadth of potential customers, including equipment rental companies, dealerships, contractors and other users of construction and industrial equipment. We intend to work closely with this customer to structure the transition costs and process in order to assist the migration to their parent company's software system." He continued, "Our focus is on supporting our existing customers, while also growing the business. We are pursuing a number of significant opportunities in North America and internationally."
"The Company is committed to its software division, Texada", said Willie Swisher, President and CEO of Noble Iron. He continued, "we fully support Brian and the Texada Software team as they develop innovative applications, and pursue new opportunities that are available to the Company."
More information about the Company can be found at www.sedar.com.
About Noble Iron Inc. (TSX VENTURE:NIR)
Noble Iron Inc. operates in three complementary sectors: equipment rental, equipment dealership and enterprise software for the construction and industrial equipment industry.
The Company operates its equipment rental business and dealership under the name "Noble Iron." Noble Iron rental depots currently serve customers in California and Texas. Noble Iron's dealership offer select manufacturers' equipment and accessories for sale, and is the exclusive distributor of LiuGong Construction Machinery equipment in Southeast Texas.
The Company's software division, Texada Software, develops software applications to manage the complete equipment ownership lifecycle, from acquisition, rental, sales and other activities, through to disposal. Texada offers in-the-cloud or client-based software, and is scalable to meet the needs of any customer.
Noble Iron can be reached at 1-800-361-1233 or 1-519-836-7073, or at www.nobleiron.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 industries in which the Company participates; others are more specific to the Company. The Company'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.
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