RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

May 30, 2012 18:37 ET

RenoWorks Announces 2012 First Quarter Financial Results

CALGARY, ALBERTA--(Marketwire - May 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 first quarter month ended March 31, 2012.

Financial results from operations for the first quarter 2012 with comparatives for 2011 are as follows:

Three Months Ended March 31
2012 2011
Revenue $ 319,017 $ 317,510
Gross Margin $ 187,706 $ 239,758
Expenses $ 258,977 $ 263,983
Income $ (79,895 ) $ (28,581 )
Earnings (loss) per share $ (0.003 ) $ (0.001 )
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $ 65,233 $ (109,249 )

The Company's financial position as at March 31, 2012 and December 31, 2011 was as follows:

March 31, 2012 December 31, 2011
Cash Balance $ 99,255 $ 50,458
Working Capital $ (555,840 ) $ (461,606 )
Long term liabilities $ 100,632 $ 110,368
Shareholder's Deficiency $ (619,892 ) $ (540,997 )
Deficit $ (5,478,051 ) $ (5,398,156 )
Total Assets $ 435,489 $ 422,740

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