Cimatron Reports Record Revenues and Operating Profit in Q4/11


                                                CIMATRON LIMITED
                                            STATEMENTS OF CASH FLOWS
                                           (US Dollars in thousands)
 
                                                                      Twelve months
                                                                         ended
                                                                       December 31,
                                                                  2011          2010
 
    Cash flows from operating activities:
                                                                                                          
    Net income                                                  $ 2,611       $ 1,565
 
    Adjustments to reconcile net income
     to net cash provided by operating activities:
    Depreciation and amortization                                 1,376         1,512
    Increase (decrease) in accrued severance pay                   (135)          228
    Loss from sale of property and equipment, net                     -             8
    Stock option compensation                                         -            60
    Deferred taxes, net                                             504           406
 
    Changes in assets and liabilities:
    Decrease in accounts receivable and prepaid expenses           (222)         (583)
    Decrease in inventory                                            (2)           13
    Decrease (increase) in deposits with insurance 
    companies and severance pay fund                                210          (344)
    Increase in trade payables, accrued 
    expenses and other liabilities                                  228         1,908
    Net cash provided by operating activities                     4,570         4,773
 
    Cash flows from investing activities:
    Purchase of property and equipment                             (428)         (384)
    Net cash used in investing activities                          (428)         (384)
 
    Cash flows from financing activities:
    Short-term bank credit                                          (10)         (340)
    Long-term bank credit                                           (87)          (98)
    Cash dividend paid                                           (3,216)            -
    Proceeds from issuance of shares 
    upon exercise of options                                        733               11
        Investment  in  treasury  stock                                                                            -                    (210)
        Net  cash  used  in  financing  activities                                                (2,580)                  (637)
  
        Net  increase  in  cash  and  cash  equivalents                                          1,562                  3,752
        Effect  of  exchange  rate  changes  on  cash                                                      4                    (215)
        Cash  and  cash  equivalents  at  beginning  of  period                          10,221                  6,684
                                                                                                                                                                                                                    
        Cash  and  cash  equivalents  at  end  of  period                                  $  11,787            $  10,221
  
        Appendix  A  -  Non-cash  transactions
                          Purchase  of  property  on  credit                                                $  19                    $  68
 


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