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ENGINEERING.com Incorporated Announces First Quarter 2012 Results

(May 25, 2012)

TORONTO, ONTARIO -- (Marketwire) -- 05/25/12 -- ENGINEERING.com Incorporated (TSX VENTURE:EGN), developer of the ENGINEERING.com online resource for engineers today announced its unaudited financial results for the first quarter ended March 31, 2012.

ENGINEERING.com revenue was $581,965 for the three month ended March 31, 2012, compared to revenue of $355,559 for the first quarter in 2011. Revenue in the first quarter included a sale of third party software to a single customer for approximately $170,000.

Operating income (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was $2,634 or $0.00 per Common Share for the first quarter of 2012 compared with an operating loss of ($58,398) or $0.00 per Common Share for the three month period ended March 31, 2011. The operating expenses in the latest quarter were $300,924, up from $255,662 in the first quarter a year earlier.

"During the first quarter of 2012 the Company launched a 3D Printing section to give industry analysts and bloggers a valuable platform for disseminating technical information," said John Hayes, President of ENGINEERING.com. "This section and others like it will attract viewers and advertisers to important topic areas."


As at March 31, 2012, the Company had a cash balance of $327,057 compared to a cash balance of $259,014 as at December 31, 2011.

About ENGINEERING.com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE:EGN) inspires, informs and entertains a worldwide audience of engineers through the www.ENGINEERING.com web site and other distribution channels. ENGINEERING.com offers marketing services to manufacturers, technology inventors and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at www.ENGINEERING.com.

EBITDA

EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock - based compensation, asset dispositions and provision for discontinued operations. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company's financial performance. EBITDA is not a measure of financial performance under Canadian generally accepted accounting principles and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities (as determined in accordance with Canadian generally accepted accounting principles) as a measure of liquidity.

Forward Looking Statements

This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. The Company's ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.

STATEMENTS OF FINANCIAL POSITION Expressed in Canadian Dollars March 31, 2012 March 31, 2011 ASSETS CURRENT ASSETS Cash $ 327,057 $ 139,712 Accounts Receivable 420,064 201,468 Prepaids Expenses and Deposits 45,671 11,672 ---------------------------------------------------------------------------- TOTAL CURRENT ASSETS 792,792 352,852 ---------------------------------------------------------------------------- NON-CURRENT ASSETS Property and Equipment 13,623 17,949 Intangible Assets 328,313 319,084 ---------------------------------------------------------------------------- TOTAL NON-CURRENT ASSETS 341,936 337,033 ---------------------------------------------------------------------------- TOTAL ASSETS $ 1,134,728 $ 689,885 ---------------------------------------------------------------------------- LIABILITIES AND SHAREHOLDER'S EQUITY CURRENT LIABILITIES Accounts Payable & Accrued Liabilities $ 623,565 $ 487,592 Deferred Revenue 165,098 73,438 ---------------------------------------------------------------------------- TOTAL LIABILITIES 788,663 561,030 ---------------------------------------------------------------------------- SHAREHOLDER'S EQUITY Share Capital 15,450,966 15,113,752 Contributed Surplus 503,947 478,646 Deficit (15,608,848) (15,463,543) ---------------------------------------------------------------------------- TOTAL SHAREHOLDERS EQUITY 346,065 128,855 ---------------------------------------------------------------------------- TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $ 1,134,728 $ 689,885 ---------------------------------------------------------------------------- STATEMENTS OF CHANGE IN SHAREHOLDERS' EQUITY Expressed in Canadian Dollars Number of Share Common Shares Capital ----------------------------------------------------------------- At December 31, 2010 36,870,623 $ 15,113,752 Net Income for the period Stock Based Compensation ----------------------------------------------------------------- At March 31, 2011 36,870,623 15,113,752 At December 31, 2011 43,870,623 $ 15,450,966 Net Loss for the period Stock Based Compensation ----------------------------------------------------------------- At March 31, 2012 43,870,623 $ 15,450,966 ----------------------------------------------------------------- STATEMENTS OF CHANGE IN SHAREHOLDERS' EQUITY Expressed in Canadian Dollars Contributed Surplus Deficit Total ---------------------------------------------------------------------------- At December 31, 2010 $ 472,843 $ (15,396,019) $ 190,576 Net Income for the period (67,524) (67,524) Stock Based Compensation 5,802 5,802 ---------------------------------------------------------------------------- At March 31, 2011 478,645 (15,463,543) 128,854 At December 31, 2011 $ 497,899 $ (15,602,800) $ 346,065 Net Loss for the period (6,048) (6,048) Stock Based Compensation 6,048 6,048 ---------------------------------------------------------------------------- At March 31, 2012 $ 503,947 $ (15,608,848) $ 346,065 ---------------------------------------------------------------------------- STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) Expressed in Canadian Dollars March 31, 2012 March 31, 2011 REVENUE $ 581,965 $ 355,559 COST OF SALES 278,677 158,295 --------------------------------------------------------------------------- GROSS PROFIT 303,288 197,264 --------------------------------------------------------------------------- OPERATING EXPENSES Salaries and Benefits 171,494 138,898 Marketing Expenses 22,839 22,682 Development Costs 46,282 47,180 General and Administrative 60,309 46,902 --------------------------------------------------------------------------- TOTAL OPERATING EXPENSES 300,924 255,662 --------------------------------------------------------------------------- INCOME (LOSS) BEFORE UNDERNOTED ITEMS: 2,364 (58,398) Stock Based Compensation (6,048) (5,802) Amortization Expense (2,364) (3,324) --------------------------------------------------------------------------- NET INCOME (LOSS) & COMPREHENSIVE INCOME $ (6,048) $ (67,524) --------------------------------------------------------------------------- Earnings (Loss) Per Share Basic $ 0.00 $ 0.00 Diluted $ 0.00 $ 0.00 Weighted Average Number of Common Shares (Basic and Diluted) 43,870,623 36,870,623 --------------------------------------------------------------------------- STATEMENTS OF CASH FLOWS Expressed in Canadian Dollars March 31, 2012 March 31, 2011 OPERATING ACTIVITIES Net Income (Loss) $ (6,048) $ (67,524) Add items not affecting cash Stock based compensation 6,048 5,802 Amortization 2,364 3,324 Changes in Operating Assets and Liabilities Other than Cash 73,142 123,433 -------------------------------------------------------------------------- CASH FLOWS FROM OPERATING ACTIVITIES 75,506 65,035 -------------------------------------------------------------------------- INVESTING ACTIVITIES Additions to Property and Equipment (4,169) (546) Additions to Intangible Assets (3,294) (3,021) -------------------------------------------------------------------------- CASH FLOWS FROM INVESTING ACTIVITIES (7,463) (3,567) -------------------------------------------------------------------------- INCREASE (DECREASE) IN CASH 68,043 61,468 CASH, Beginning of period 259,014 78,244 -------------------------------------------------------------------------- CASH, End of period $ 327,057 $ 139,712 --------------------------------------------------------------------------

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts:
ENGINEERING.com, Inc.
John Hayes
President & CFO
905-273-9991, ext. 3280 or Toll Free: 1-877-997-9917
905-273-6691 (FAX)
jhayes@engineering.com
www.engineering.com


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