Cimatron Reports Revenues of $10.6M and Record Second Quarter Non-GAAP Operating Profit of $1.7M in Q2/12



Table continued below.

                                 CIMATRON LIMITED
                   STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY     
                            (US Dollars in thousands)                             

                                                  
                                                  
                           Retained
                           earnings                                      Total
                         (accumulated   Treasury     Comprehensive    shareholders'
                           deficit)      stock       income (loss)       equity
 
    Balance at
    December 31, 2011      $ (851)     $ (752)                         $ 17,132
    Changes during the
    six months ended
    June 30, 2012:
    Net income              1,829                          1,838          1,838
    Cash dividend paid     (1,859)                                       (1,859)
    Exercise of share
    options                                                                  40
    Unrealized gain on
    derivative
    instruments                                              149            149
    Other                                                    (93)           (93)
    Foreign currency
    translation
    adjustment                                              (121)          (121)
    Total
    comprehensive
    income                                                 1,773
    Balance at June
    30, 2012               $ (881)     $ (752)                         $ 17,086



                                CIMATRON LIMITED
                           STATEMENTS OF CASH FLOWS

(US Dollars in thousands)

     
                                                            Six months ended
                                                                June 30,
                                                            2012       2011
 
    Cash flows from operating activities:
    Net income                                           $ 1,838    $ 1,193
 
    Adjustments to reconcile net income
    to net cash provided by operating activities:
    Depreciation and amortization                            686        692
    Increase (decrease) in accrued severance pay            (476)       195
    Loss from sale of property and equipment, net             (2)         -
    Deferred taxes, net                                     (180)       319
 
    Changes in assets and liabilities:
    Decrease in accounts receivable and prepaid expenses     528         80
    Decrease (increase) in inventory                          (1)        19
    Decrease (increase) in deposits with insurance             5       (129)
     companies and severance pay fund
    Increase in trade  payables,  accrued  expenses  and              2,329            2,274
          other  liabilities
        Net  cash  provided  by  operating  activities                            4,727            4,643
  
        Cash  flows  from  investing  activities:
        Proceeds  from  sale  of  property  and  equipment                              1                    -
        Purchase  of  property  and  equipment                                            (126)              (87)
        Net  cash  used  in  investing  activities                                      (125)              (87)
  
        Cash  flows  from  financing  activities:
        Short-term  bank  credit                                                                      (58)                (4)
        Long-term  bank  credit                                                                          (7)              (43)
        Cash  dividend  paid                                                                        (1,611)        (1,208)
        Proceeds  from  issuance  of  shares  upon  exercise  of                  40                733
        options
        Net  cash  used  in  financing  activities                                  (1,636)            (522)
  
        Net  increase  in  cash  and  cash  equivalents                            2,966            4,034
        Effect  of  exchange  rate  changes  on  cash                                    (68)              238
        Cash  and  cash  equivalents  at  beginning  of  period            11,787          10,221
        Cash  and  cash  equivalents  at  end  of  period                    $  14,685      $  14,493
  
        Appendix  A  -  Non-cash  transactions
          Purchase  of  property  on  credit                                                  $  89              $  28
 

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