RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

November 24, 2014 15:13 ET

RenoWorks Announces 2014 Third Quarter Financial Results

CALGARY, ALBERTA--(Marketwired - Nov. 24, 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 third quarter ended September 30, 2014.

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

Three Months Ended September 30
2014 2013
Revenue $ 505,047 $ 489,218
Gross Margin $ 445,465 $ 364,972
Expenses $ 345,615 $ 291,112
Income $ 88,415 $ 64,356
Earnings per share $ 0.003 $ 0.002
Weighted Average Shares Outstanding 26,620,444 26,620,444
Nine Months Ended September 30
2014 2013
Revenue $ 1,472,345 $ 1,429,953
Gross Margin $ 1,311,286 $ 1,110,331
Expenses $ 1,124,690 $ 955,559
Income $ 211,621 $ 126,698
Earnings (loss) per share $ 0.009 $ 0.005
Weighted Average Shares Outstanding 26,620,444 26,620,444
Cash from operations $ 82,522 $ 31,084

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

September 30,
2014
December 31,
2013
Cash Balance $ 238,310 $ 172,425
Working Capital $ 210,174 $ 12,429
Long term liabilities $ 402,774 $ 432,564
Shareholder's Deficiency $ (161,339 ) $ (388,035 )
Deficit $ (5,039,323 ) $ (5,250,944 )
Total Assets $ 704,751 $ 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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