RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

August 28, 2012 15:19 ET

RenoWorks Announces 2012 Second Quarter Financial Results

CALGARY, ALBERTA--(Marketwire - Aug. 28, 2012) -

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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 second quarter month ended June 30, 2012.

Financial results from operations for the second quarter 2012 with comparatives for 2011 are as follows:
Three Months Ended June 30
2012 2011
Revenue $ 366,630 $ 255,996
Gross Margin $ 254,491 $ 187,761
Expenses $ 290,456 $ 268,154
Income $ (35,965 ) $ (80,393 )
Earnings (loss) per share $ (0.001 ) $ (0.003 )
Weighted Average Shares Outstanding 26,620,444 26,620,444
Six Months Ended June 30
2012 2011
Revenue $ 685,647 $ 573,506
Gross Margin $ 442,197 $ 427,520
Expenses $ 558,057 $ 546,696
Income $ (115,860 ) $ (119,176 )
Earnings (loss) per share $ (0.005 ) $ (0.006 )
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $ 28 $ (153,656 )
The Company's financial position as at June 30, 2012 and December 31, 2011 was as follows:
June 30, 2012 December 31, 2011
Cash Balance $ 33,487 $ 50,458
Working Capital $ (593,118 ) $ (461,606 )
Long term liabilities $ 107,951 $ 110,368
Shareholder's Deficiency $ (655,857 ) $ (540,997 )
Deficit $ (5,514,016 ) $ (5,398,156 )
Total Assets $ 383,921 $ 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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