RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

November 27, 2009 17:03 ET

RenoWorks Announces September 30, 2009 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - Nov. 27, 2009) -

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 three months ended September 30, 2009.

Financial results from operations for the quarter and nine months ended September 30, 2009, with comparatives for 2008, as follows:



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Quarter ended Quarter ended
September 30, 2009 September 30, 2008
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Revenue $331,226 $187,998
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Gross Margin $135,131 $86,181
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Operating Expenses $222,678 $299,562
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Net Loss ($113,610) ($199,913)
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Net Loss per share ($0.005) ($0.009)
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Weighted average shares outstanding 25,055,227 22,620,444
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Cash used in operations ($148,980) ($195,985)
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Nine Months ended Nine Months ended
September 30, 2009 September 30, 2008
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Revenue $931,761 $ 974,679
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Gross Margin $507,881 $ 633,190
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Operating Expenses $862,003 $1,051,180
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Net Loss ($373,608) ($435,545)
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Net Loss per share ($0.016) ($0.023)
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Weighted average shares outstanding 23,014,965 19,428,263
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Cash used in operations ($419,898) ($208,367)
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The Company's financial position as at September 30, 2009 and December 31, 2008 was as follows:



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September 30, 2009 December 31, 2008
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Cash balance $158,106 $409,531
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Working capital ($625,900) ($423,180)
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Long term liabilities $160,340 $188,715
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Shareholders' deficiency $738,622 $554,879
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Deficit ($5,581,400) ($5,207,792)
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Total assets $363,595 $538,466
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Deferred Revenue $843,580 $780,388
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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. For more information, visit www.renoworks.com, or call 403-296-3880.

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
    www.renoworks.com