RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

November 26, 2008 12:59 ET

RenoWorks Announces September 30, 2008 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES.

RenoWorks Software Inc. (TSX VENTURE:RW), a leading provider of digital exterior and interior home imaging software solutions for new home construction and existing home renovations, today announced financial results for the nine months ended September 30, 2008.

Financial results from operations for the quarter and nine months ended September 30, 2008, with comparatives for 2007, as follows:



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Quarter ended Quarter ended
Sept 30, 2008 Sept. 30, 2007
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Revenue $ 187,998 $ 106,495
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Gross Margin $ 86,181 $ 75,652
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Operating Expenses $ 299,562 $ 324,869
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Net Income (Loss) $ (199,913) $ (259,074)
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Net Income (Loss) per share $ (0.009) $ (0.015)
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Weighted average shares outstanding 22,620,444 17,620,444
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Cash from (used in) operations $ (195,577) $ (211,666)
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Nine Months Nine Months
ended ended
Sept. 30, 2008 Sept. 30, 2007
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Revenue 974,679 $ 875,615
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Gross Margin 633,190 $ 620,247
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Operating Expenses 1,051,180 $ 836,089
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Net Income (Loss) $ (435,545) $ (242,968)
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Net Income (Loss) per share $ (0.023) $ (0.014)
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Weighted average shares outstanding 19,428,263 17,620,444
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Cash from (used in) operations $ (207,960) $ (77,741)
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The Company's financial position as at September 30, 2008 and December 31,
2007 was as follows:

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Sept. 30, December 31,
2008 2007
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Cash balance 171,587 $ 97,228
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Working capital $ (226,383) $ (285,672)
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Long term liabilities $ 183,563 $ 209,332
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Shareholders' deficiency $ 348,004 $ 424,659
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Deficit $ 4,982,978 $ 4,547,433
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Total assets $ 338,703 $ 445,498
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Deferred Revenue $ 315,485 $ 300,980
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About RenoWorks Software Inc: RenoWorks Software Inc. develops and markets cutting edge visualization software and integrated solutions for the remodeling and new home construction industries. RenoWorks' software and web solutions use digital imaging to showcase interior and exterior building products on a picture of a customer's room, home, or blueprint. The software allows users to envision various 'before and after' design options using a database of actual manufacturer's products.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • RenoWorks Software Inc.
    Doug Vickerson
    CEO and CFO
    (403) 296-3880 x 227
    Website: www.renoworks.com