Renoworks Announces June 30, 2008 Quarter End Financial Results
14 August 2008 - 10:30PM
Marketwired Canada
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 six months
ended June 30, 2008.
Financial results from operations for the quarter and six months ended June 30,
2008, with comparatives for 2007, as follows:
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Quarter ended Quarter ended
June 30, 2008 June 30, 2007
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Revenue $ 591,469 $ 405,998
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Gross Margin $ 473,630 $ 289,580
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Operating Expenses $ 428,188 $ 286,574
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Net Income (Loss) $ 21,108 ($11,543)
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Net Income (Loss) per share $ 0.001 ($0.001)
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Weighted average shares outstanding 18,167,989 17,620,444
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Cash from (used in) operations $ 75,132 $ 84,967
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Six Months ended Six Months ended
June 30, 2008 June 30, 2007
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Revenue $ 786,681 $ 769,120
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Gross Margin $ 547,009 $ 544,595
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Operating Expenses $ 752,206 $ 511,220
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Net Income (Loss) ($235,632) $ 16,106
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Net Income (Loss) per share ($0.012) $ 0.001
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Weighted average shares outstanding 18,167,989 17,620,444
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Cash from (used in) operations ($12,382) $ 133,925
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The Company's financial position as at June 30, 2008 and December 31, 2007
was as follows:
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June 30, 2008 December 31,
2007
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Cash balance $ 471,022 $ 97,228
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Working capital ($24,935) ($285,672)
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Long term liabilities $ 184,687 $ 209,332
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Shareholders' deficiency ($148,091) $ 424,659
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Deficit $ 4,783,065 $ 4,547,433
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Total assets $ 697,030 $ 445,498
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Deferred Revenue $ 368,073 $ 300,980
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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.
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