RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

November 29, 2013 14:25 ET

RenoWorks Announces 2013 Third Quarter Financial Results

CALGARY, ALBERTA--(Marketwired - Nov. 29, 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 quarter ended September 30, 2013.

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

Three Months Ended September 30
2013 2012
Revenue $489,218 $245,605
Gross Margin $364,972 $130,532
Expenses $300,616 $273.520
Income (loss) $64,356 ($142,988)
Earnings (loss) per share $0.002 ($0.005)
Weighted Average Shares Outstanding 26,620,444 26,620,444
Nine Months Ended September 30
2013 2012
Revenue $1,429,953 $931,252
Gross Margin $1,110,331 $572,730
Expenses $983,633 $831,587
Income $126,698 ($258,857)
Earnings (loss) per share $0.005 ($0.01)
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $31,084 ($10,189)
The Company's financial position as at September 30, 2013 and December 31, 2012 was as follows:
September 30, 2013 December 31, 2012
Cash Balance $70,259 $74,110
Working Capital ($529,335) ($617,053)
Long term liabilities $45,834 $90,076
Shareholder's Deficiency ($540,093) ($666,791)
Deficit ($5,402,252) ($5,528,950)
Total Assets $390,331 $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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