Cimatron Reports Revenues for Q1 2013

 

CIMATRON LIMITED


STATEMENTS OF CASH FLOWS


(US Dollars in thousands)














three months ended






March 31,






2013


2012










Cash flows from operating activities:





Net income 



$           604


$           843










Adjustments to reconcile net income 





   to net cash provided by (used in) operating activities:





Depreciation and amortization


293


337


Increase in accrued severance pay

86


218


Deferred taxes, net



(90)


(92)










Changes in assets and liabilities:





Increase in accounts receivable and prepaid expenses

(1,194)


(755)


Increase in inventory



-


(21)


Increase in deposits with insurance companies and severance pay fund

(110)


(118)


Increase in trade payables, accrued expenses and other liabilities

280


1,941


Net cash provided by (used in) operating activities

(131)


2,353










Cash flows from investing activities:





Proceeds from sale of property and equipment

7


-


Purchase of property and equipment

(49)


(63)


Net cash used in investing activities

(42)


(63)


















Cash flows from financing activities:





Short-term bank credit


5,658


663


Long-term bank credit


-


(1)


Cash distribution to shareholders




(7,874)


-


Proceeds from issuance of shares upon exercise of options 

-


14


Net cash provided by (used in) financing activities

(2,216)


676


















Net increase (decrease) in cash and cash equivalents

(2,389)


2,966


Effect of exchange rate changes on cash

(88)


151


Cash and cash equivalents at beginning of period

11,903


11,787


Cash and cash equivalents at end of period

$        9,426


$      14,904










Appendix A - Non-cash transactions





Purchase of property on credit


$              5


$              8











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