Science & Technology
Science and Technology
Science and Technology
Wed, August 29, 2012
Tue, August 28, 2012 RenoWorks Announces 2012 Second Quarter Financial Results
August 28, 2012 15:19 ET
RenoWorks Announces 2012 Second Quarter Financial Results
CALGARY, ALBERTA--(Marketwire - Aug. 28, 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 second quarter month ended June 30, 2012.
| Financial results from operations for the second quarter 2012 with comparatives for 2011 are as follows: |
| Three Months Ended June 30 | ||||||
| 2012 | 2011 | |||||
| Revenue | $ | 366,630 | $ | 255,996 | ||
| Gross Margin | $ | 254,491 | $ | 187,761 | ||
| Expenses | $ | 290,456 | $ | 268,154 | ||
| Income | $ | (35,965 | ) | $ | (80,393 | ) |
| Earnings (loss) per share | $ | (0.001 | ) | $ | (0.003 | ) |
| Weighted Average Shares Outstanding | 26,620,444 | 26,620,444 | ||||
| Six Months Ended June 30 | ||||||
| 2012 | 2011 | |||||
| Revenue | $ | 685,647 | $ | 573,506 | ||
| Gross Margin | $ | 442,197 | $ | 427,520 | ||
| Expenses | $ | 558,057 | $ | 546,696 | ||
| Income | $ | (115,860 | ) | $ | (119,176 | ) |
| Earnings (loss) per share | $ | (0.005 | ) | $ | (0.006 | ) |
| Weighted Average Shares Outstanding | 26,620,444 | 26,620,444 | ||||
| Cash from (used in) operations | $ | 28 | $ | (153,656 | ) | |
| The Company's financial position as at June 30, 2012 and December 31, 2011 was as follows: |
| June 30, 2012 | December 31, 2011 | |||||
| Cash Balance | $ | 33,487 | $ | 50,458 | ||
| Working Capital | $ | (593,118 | ) | $ | (461,606 | ) |
| Long term liabilities | $ | 107,951 | $ | 110,368 | ||
| Shareholder's Deficiency | $ | (655,857 | ) | $ | (540,997 | ) |
| Deficit | $ | (5,514,016 | ) | $ | (5,398,156 | ) |
| Total Assets | $ | 383,921 | $ | 422,740 | ||
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.
