RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

August 26, 2014 12:31 ET

RenoWorks Announces 2014 Second Quarter Financial Results

CALGARY, ALBERTA--(Marketwired - Aug. 26, 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 second quarter month ended June 30, 2014.

Financial results from operations for the second quarter 2014 with comparatives for 2013 are as follows:

Three Months Ended June 30
2014 2013
Revenue $ 484,730 $ 503,158
Gross Margin $ 431,120 $ 423,049
Expenses $ 431,505 $ 344,075
Income (loss) $ (385 ) $ 78,974
Earnings (loss) per share $ 0.000 $ 0.003
Weighted Average Shares Outstanding 26,620,444 26,620,444
Six Months Ended June 30
2014 2013
Revenue $ 967,298 $ 940,735
Gross Margin $ 865,822 $ 745,359
Expenses $ 800,183 $ 683,015
Income $ 123,206 $ 62,344
Earnings (loss) per share $ 0.005 $ 0.002
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from (used in) operations $ 27,269 $ (10,769 )

The Company's financial position as at June 30, 2014 and December 31, 2013 was as follows:

June 30, 2014 December 31, 2013
Cash Balance $ 184,098 $ 172,425
Working Capital $ 99,894 $ 12,429
Long term liabilities $ 394,616 $ 432,564
Shareholder's Deficiency $ (260,779 ) $ (388,035 )
Deficit $ (5,127,738 ) $ (5,250,944 )
Total Assets $ 612,900 $ 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.

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