CALGARY, ALBERTA--(Marketwired - April 30, 2015) -
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, 2014.
Financial results from operations for the fourth quarter 2014 with comparatives for 2013 are as follows:
| Three Months Ended Dec 31 | ||||
| 2014 | 2013 | |||
| Revenue | $ | 522,712 | $ | 544,077 |
| Gross Margin | $ | 340,086 | $ | 468,991 |
| Expenses | $ | 267,330 | $ | 254,870 |
| Income | $ | 81,049 | $ | 151,339 |
| Earnings per share | $ | 0.005 | $ | 0.005 |
| Weighted Average Shares Outstanding | 26,633,671 | 26,620,444 | ||
| Cash from operations | $ | 21,234 | $ | 43,240 |
Financial results from operations for the year ended December 31, 2014, with comparatives for 2013 are as follows:
| Year Ended Dec 31 | ||||
| 2014 | 2013 | |||
| Revenue | $ | 1,995,057 | $ | 1,974,030 |
| Gross Margin | $ | 1,651,372 | $ | 1,544,955 |
| Expenses | $ | 1,413,918 | $ | 1,250,348 |
| Income | $ | 292,670 | $ | 278,006 |
| Earnings per share | $ | 0.01 | $ | 0.01 |
| Weighted Average Shares Outstanding | 26,633,671 | 26,620,444 | ||
| Cash from operations | $ | 217,318 | $ | 143,777 |
The Company's financial position as of December 31, 2014 with comparatives from 2013 is as follows:
| December 31, 2014 |
December 31, 2013 |
|||||
| Cash Balance | $ | 361,279 | $ | 172,425 | ||
| Working Capital | $ | 211,398 | $ | 12,429 | ||
| Long term liabilities | $ | 311,442 | $ | 432,564 | ||
| Shareholder's Deficiency | $ | (71,465 | ) | $ | (388,035 | ) |
| Deficit | $ | (4,958,274 | ) | $ | (5,250,944 | ) |
| Total Assets | $ | 741,608 | $ | 551,852 | ||
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:
Doug Vickerson
CEO
403-296-3880 x227
www.renoworks.com