Cimatron Reports Record Second Quarter Revenues in Q2 2013

 

CIMATRON LIMITED

STATEMENTS OF CASH FLOWS

(US Dollars in thousands)












Six months ended





June 30,





2013


2012








Cash flows from operating activities:




Net income 



$        1,603


$        1,838








Adjustments to reconcile net income 




   to net cash provided by operating activities:




Depreciation and amortization


557


686

Increase (decrease) in accrued severance pay

232


(476)

Loss on disposal of businesses – discontinued operations

-


(2)

Deferred taxes, net



(90)


(180)








Changes in assets and liabilities:




Decrease (increase) in accounts receivable and prepaid expenses

(258)


528

Increase in inventory



(8)


(1)

Decrease (increase) in deposits with insurance companies and severance pay fund

(122)


5

Increase in trade payables, accrued expenses and other liabilities

1,264


2,329

Net cash provided by operating activities

3,178


4,727








Cash flows from investing activities:




Proceeds from sale of property and equipment

9


1

Purchase of property and equipment

(83)


(126)

Net cash used in investing activities

(74)


(125)















Cash flows from financing activities:




Short-term bank credit


2,499


(58)

Long-term bank credit


-


(7)

Cash distribution to shareholders




(7,916)


(1,611)

Proceeds from issuance of shares upon exercise of options 

47


40

Net cash used in financing activities

(5,370)


(1,636)















Net increase (decrease) in cash and cash equivalents

(2,266)


2,966

Effect of exchange rate changes on cash

(60)


(68)

Cash and cash equivalents at beginning of period

11,903


11,787

Cash and cash equivalents at end of period

$        9,577


$      14,685








Appendix A - Non-cash transactions




Purchase of property on credit

$           122


$            89


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