RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

May 27, 2009 16:44 ET

RenoWorks Announces March 31, 2009 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - May 27, 2009) -

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 exterior and interior home imaging software solutions for new home construction and existing home renovations, today announced financial results for the three months ended March 31, 2009.



Financial results from operations for the quarter and three months ended
March 31, 2009, with comparatives for 2008, as follows:

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Quarter ended Quarter ended
March 31, 2009 March 31, 2008
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Revenue $292,738 $195,212
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Gross Margin $181,413 $73,379
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Operating Expenses $377,378 $324,116
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Net Income (Loss) ($163,958) ($256,740)
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Net Income (Loss) per share ($0.001) ($0.015)
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Weighted average shares outstanding 22,620,444 17,620,444
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Cash from (used in) operations $124,533 ($87,513)
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The Company's financial position as at March 31, 2009 and December 31, 2008
was as follows:

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March 31, December 31,
2009 2008
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Cash balance $520,242 $409,531
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Working capital ($604,184) ($423,180)
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Long term liabilities $183,544 $188,715
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Shareholders' deficiency $730,232 $554,879
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Deficit ($5,371,750) ($5,207,792)
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Total assets $674,863 $538,466
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Deferred Revenue $ 1,122,511 $780,388
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About RenoWorks Software Inc:

RenoWorks Software Inc. develops and markets cutting edge visualization software and integrated solutions 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

  • RenoWorks Software Inc.
    Doug Vickerson
    CEO and CFO
    (403) 296-3880 x 227
    Website: www.renoworks.com