RenoWorks Announces September 30, 2012 Quarter End Financial Results
29 November 2012 - 11:33PM
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 three
months ended September 30, 2012.
Financial results from operations for the quarter and nine months ended
September 30, 2012, with comparatives for 2011, are as follows:
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Quarter ended Quarter ended
September 30, September 30,
2012 2011
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Revenue $ 245,605 $ 307,030
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Gross Margin 130,532 $ 191,880
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Operating Expenses $ 263,497 $ 228,106
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Net Loss $ (142,988) $ (44,647)
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Net Loss per share $ (0.005) $ (0.002)
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Weighted average shares outstanding 26,620,444 26,620,444
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Nine Months Nine Months
ended September ended September
30, 2012 30, 2011
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Revenue $ 931,252 $ 880,537
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Gross Margin $ 572,730 $ 619,400
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Operating Expenses $ 803,552 $ 764,099
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Net Income (Loss) $ (258,857) $ (163,823)
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Net Income (Loss) per share $ 0.01 $ 0.006
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Weighted average shares outstanding 26,620,444 26,620,444
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Cash provided (used) by operations $ (10,189) $ (207,815)
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The Company's financial position as at September 30, 2012 and December 31, 2011
was as follows:
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September 30, 2012 December 31, 2011
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Cash balance $ 21,776 $ 50,458
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Working capital $ (729,390) $ (461,606)
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Long term liabilities $ 108,835 $ 110,368
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Shareholders' deficiency $ (794,854) $ (540,997)
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Deficit $ (5,657,013) $ (5,398,156)
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Total assets $ 329,992 $ 422,740
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Deferred Revenue $ 527,358 $ 393,590
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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.
FOR FURTHER INFORMATION PLEASE CONTACT:
RenoWorks Software Inc.
Doug Vickerson
CEO
403-296-3880 x 227
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