Cimatron Reports Revenues of $9.9M and Non-GAAP Operating Profit of $1.1M in Q1 2012


(1) Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets.

(2) Non-GAAP adjustment to exclude the effect of deferred taxes and other non-cash tax provisions.

                                              CIMATRON LIMITED
                                         CONSOLIDATED BALANCE SHEETS
                                          (US Dollars in thousands)
 
                                                         March 31,     December 31,
                                                           2012            2011
 
    ASSETS
    CURRENT ASSETS:
    Total cash, cash equivalents and 
    short-term investments                               $ 14,904      $ 11,787
    Trade receivables                                       6,102         5,840
    Other current assets                                    1,836         1,452
    Total current assets                                   22,842        19,079
 
    Deposits with insurance companies and 
    severance pay fund                                      3,187         3,069
 
    Net property and equipment                                944         1,009
 
    Total other assets                                     11,232        11,365
 
    Total assets                                         $ 38,205      $ 34,522
 
    LIABILITIES AND SHAREHOLDERS' EQUITY
    CURRENT LIABILITIES:
    Short-term bank credit                                  $ 730          $ 87
    Trade payables                                          1,226         1,072
    Accrued expenses and other liabilities                  7,799         9,048
    Deferred revenues                                       5,270         2,403
    Total current liabilities                              15,025        12,610
 
    LONG-TERM LIABILITIES:
    Accrued severance pay                                   4,310         4,135
    Long-term loan                                              6             6
    Deferred tax liability                                    548           639
    Total long-term liabilities                             4,864         4,780
 
    Total shareholders' equity                             18,316        17,132
    Total liabilities and shareholders' equity           $ 38,205      $ 34,522
 


                                       CIMATRON LIMITED
                        STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                                   (US Dollars in thousands)
 
                                                                                           
                        Non-                      Additional  Accumulated      Retained                        Compre-    Total
                      controlling    Share      paid-in          other            earnings      Treasury  hensive  share-
                          Interest    capital    capital  comprehensive  (accumulated    Stock    income  holders'
                                                                                income  (loss)    deficit)                        (loss)    equity
                                                                                                        
        Balance  at
          December  31,
          2011            $  (131)  $  313    $  18,999      $  (446)        $  (851)          $  (752)                      $  17,132

        Changes
          during  the
          three  months
          ended  March
          31,  2012:
        Net  income          12                                                                    831                                  843                  843

        Exercise  of
          share  options                  -                14                                                                                                    14

        Unrealized
          loss  on
          derivative
          instruments                                                        215                                                        215                  215

        Other                                                                      112                                                        112                  112

        Foreign
          currency
          translation
          adjustment                                                              -                                                            -                      -

        Total
          comprehensive
          income                                                                                                                            1,170

        Balance  at
          March  31,
          2012            $  (119)  $  313    $  19,013      $  (119)          $  (20)          $  (752)                      $  18,316
  
 


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