RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

April 30, 2013 13:51 ET

RenoWorks Announces 2012 Fourth Quarter and Year End Financial Results

CALGARY, ALBERTA--(Marketwired - April 30, 2013) -

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, 2012.

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

Three Months Ended Dec 31
2012 2011
Revenue $537,955 $426,828
Gross Margin $417,789 $312,401
Expenses $251,375 $223,646
Income $128,063 $77,914
Earnings (loss) per share $0.005 $0.003
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $40,599 $29,659

Financial results from operations for the year ended December 31, 2012, with comparatives for 2011 are as follows:

Year Ended Dec 31
2012 2011
Revenue $1,469,207 $1,307,365
Gross Margin $990,518 $931,801
Expenses $1,057,424 $987,745
Income ($130,794 ) ($85,909 )
Earnings per share ($0.005 ) ($0.003 )
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $61,883 ($177,717 )

The Company's financial position as of December 31, 2012 with comparatives from 2011 is as follows:


December 31, 2012

December 31, 2011
Cash Balance $74,110 $50,458
Working Capital ($617,053 ) ($461,606 )
Long term liabilities $90,076 $110,368
Shareholder's Deficiency ($666,791 ) ($540,997 )
Deficit ($5,528,950 ) ($5,398,156 )
Total Assets $632,561 $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.

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