RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

June 29, 2011 14:46 ET

RenoWorks Announces March 31, 2011 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - June 29, 2011) -

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, 2011.

Financial results from operations for the quarter and three months ended March 31, 2011, with comparatives for 2010, as follows:

Quarter ended March 31, 2011Quarter ended March 31, 2010
Revenue$317,510$555,748
Gross Margin$239,758$453,798
Operating Expenses$263,983$285,366
Net Income (Loss)$(28,581)$166,001
Net Income (Loss) per share$(0.001)$0.006
Weighted average shares outstanding26,620,44426,620,444
Cash from operations$(109,249)$77,535

The Company's financial position as at March 31, 2011 and December 31, 2010 was as follows:

March 31, 2011December 31, 2010
Cash balance$11,606$77,431
Working capital$(413,113)$(378,621)
Long term liabilities$126,728$135,554
Shareholders' deficiency$(505,756)$(477,175)
Deficit$(5,348,328)$(5,319,747)
Total assets$190,985$255,279
Deferred Revenue$244,436$379,608

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