Science & Technology
Science and TechnologyScience and Technology 
Tue, May 1, 2012
Mon, April 30, 2012
RenoWorks Announces 2011 Fourth Quarter and Year End Financial Results
April 30, 2012 16:04 ET
RenoWorks Announces 2011 Fourth Quarter and Year End Financial Results
CALGARY, ALBERTA--(Marketwire - April 30, 2012) -
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 home imaging software and web solutions for new home construction and existing home renovations, today announced financial results for the fourth quarter and for the year ended December 31, 2011.
Financial results from operations for the fourth quarter 2011 with comparatives for 2010 are as follows:
| Three Months Ended Dec 31 | ||||
| 2011 | 2010 | |||
| Revenue | $ | 426,828 | $ | 378,761 |
| Gross Margin | $ | 312,401 | $ | 140,404 |
| Expenses | $ | 223,646 | $ | 188,299 |
| Income | $ | 77,914 | $ | 50,058 |
| Earnings (loss) per share | $ | 0.003 | $ | 0.002 |
| Weighted Average Shares Outstanding | 26,620,444 | 26,620,444 | ||
| Cash from (used in) operations | $ | 29,659 | $ | 17,093 |
Financial results from operations for the year ended December 31, 2011, with comparatives for 2010 are as follows:
| Year Ended Dec 31 | ||||||
| 2011 | 2010 | |||||
| Revenue | $ | 1,307,365 | $ | 1,514,573 | ||
| Gross Margin | $ | 931,801 | $ | 1,143,746 | ||
| Expenses | $ | 987,745 | $ | 982,822 | ||
| Income | $ | (85,909 | ) | $ | 148,969 | |
| Earnings per share | $ | (0.003 | ) | $ | 0.006 | |
| Weighted Average Shares Outstanding | 26,620,444 | 26,620,444 | ||||
| Cash from (used in) operations | $ | (177,717 | ) | $ | (14,595 | ) |
The Company's financial position as of December 31, 2011 with comparatives from 2010 is as follows:
December 31, 2011 | December 31, 2010 | |||||
| Cash Balance | $ | 50,458 | $ | 77,431 | ||
| Working Capital | $ | (461,606 | ) | $ | (378,358 | ) |
| Long term liabilities | $ | 110,368 | $ | 135,554 | ||
| Shareholder's Deficiency | $ | (540,997 | ) | $ | (477,175 | ) |
| Deficit | $ | (5,398,156 | ) | $ | (5,312,247 | ) |
| Total Assets | $ | 422,740 | $ | 255,279 | ||
About RenoWorks Software Inc:
RenoWorks Software Inc. develops and markets cutting edge visualization software and business growth tools 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.