RenoWorks Software Inc.
TSX VENTURE : RW

RenoWorks Software Inc.

November 30, 2010 18:34 ET

RenoWorks Announces September 30, 2010 Quarter End Financial Results

CALGARY, ALBERTA--(Marketwire - Nov. 30, 2010) -

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 September 30, 2010.

Financial results from operations for the quarter and nine months ended September 30, 2010, with comparatives for 2009, are as follows:



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Quarter ended Quarter ended
September 30, September 30,
2010 2009
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Revenue $ 278,137 $ 331,226
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Gross Margin $ 207,611 $ 135,131
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Operating Expenses $ 239,389 $ 222,678
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Net Loss $ (39,797) $ (113,610)
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Net Loss per share $ (0.001) $ (0.005)
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Weighted average shares outstanding 26,620,444 25,055,227
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Cash used in operations $ (34,652) $ (148,980)
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Nine Months Nine Months
ended September ended September
30, 2010 30, 2009
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Revenue $ 1,135,812 $ 931,761
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Gross Margin $ 905,388 $ 507,881
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Operating Expenses $ 801,610 $ 862,003
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Net Income (Loss) $ 91,410 $ (373,608)
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Net Income (Loss) per share $ 0.003 $ (0.016)
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Weighted average shares outstanding 26,620,444 23,014,965
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Cash provided (used) by operations $ 2,498 $ (419,898)
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The Company's financial position as at September 30, 2010 and December 31, 2010 was as follows:



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September 30, December 31,
2010 2009
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Cash balance $ 102,788 $ 94,862
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Working capital $ (421,701) $ (508,173)
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Long term liabilities $ 142,217 $ 158,865
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Shareholders' deficiency $ 525,977 $ 619,063
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Deficit $ (5,365,959) $ (5,457,369)
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Total assets $ 211,167 $ 316,236
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Deferred Revenue $ 376,579 $ 549,478
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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
    www.renoworks.com