RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

April 30, 2012 16:04 ET

RenoWorks Announces 2011 Fourth Quarter and Year End Financial Results

CALGARY, ALBERTA--(Marketwire - April 30, 2012) -

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 home imaging software and web solutions for new home construction and existing home renovations, today announced financial results for the fourth quarter and for the year ended December 31, 2011.

Financial results from operations for the fourth quarter 2011 with comparatives for 2010 are as follows:

Three Months Ended Dec 31
2011 2010
Revenue $ 426,828 $ 378,761
Gross Margin $ 312,401 $ 140,404
Expenses $ 223,646 $ 188,299
Income $ 77,914 $ 50,058
Earnings (loss) per share $ 0.003 $ 0.002
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $ 29,659 $ 17,093

Financial results from operations for the year ended December 31, 2011, with comparatives for 2010 are as follows:

Year Ended Dec 31
2011 2010
Revenue $ 1,307,365 $ 1,514,573
Gross Margin $ 931,801 $ 1,143,746
Expenses $ 987,745 $ 982,822
Income $ (85,909 ) $ 148,969
Earnings per share $ (0.003 ) $ 0.006
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $ (177,717 ) $ (14,595 )

The Company's financial position as of December 31, 2011 with comparatives from 2010 is as follows:


December 31, 2011

December 31, 2010
Cash Balance $ 50,458 $ 77,431
Working Capital $ (461,606 ) $ (378,358 )
Long term liabilities $ 110,368 $ 135,554
Shareholder's Deficiency $ (540,997 ) $ (477,175 )
Deficit $ (5,398,156 ) $ (5,312,247 )
Total Assets $ 422,740 $ 255,279

About RenoWorks Software Inc:

RenoWorks Software Inc. develops and markets cutting edge visualization software and business growth tools 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
    403-296-3880 x227