RenoWorks Software Inc.

TSX VENTURE : RW


RenoWorks Software Inc.

April 22, 2014 19:02 ET

RenoWorks Announces 2013 Fourth Quarter and Year End Financial Results

CALGARY, ALBERTA--(Marketwired - April 22, 2014) -

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, 2013.

Financial results from operations for the fourth quarter 2013 with comparatives for 2012 are as follows:

Three Months Ended Dec 31
2013 2012
Revenue $544,077 $537,955
Gross Margin $468,991 $417,789
Expenses $254,870 $251,375
Income $151,339 $128,063
Earnings (loss) per share $0.005 $0.005
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $43,240 $40,599

Financial results from operations for the year ended December 31, 2013, with comparatives for 2012 are as follows:

Year Ended Dec 31
2013 2012
Revenue $1,974,030 $1,469,207
Gross Margin $1,544,955 $990,518
Expenses $1,250,348 $1,057,424
Income $278,006 ($130,794)
Earnings per share $0.010 ($0.010)
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $143,777 $61,833

The Company's financial position as of December 31, 2013 with comparatives from 2012 is as follows:


December 31,
2013

December 31,
2012
Cash Balance $172,425 $74,110
Working Capital $12,429 ($617,053)
Long term liabilities $432,564 $90,076
Shareholder's Deficiency ($388,035) ($666,791)
Deficit ($5,250,944) ($5,528,950)
Total Assets $551,852 $632,561

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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