Cimatron Reports $11 Million Revenues in Q1/14, Marking Record First Quarter Revenues, Operating Profit and Cash Flow

 

CIMATRON LIMITED

RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION

(US Dollars in thousands, except for per share data)
























Three months ended







March,









2014






2013









GAAP


Adj.


NON-GAAP


GAAP


Adj.


NON-GAAP


















Total revenue 

10,963


-


10,963


10,158


-


10,158


















Total cost of revenue (1)

1,503


(147)


1,356


1,326


(147)


1,179


















Gross profit

9,460


147


9,607


8,832


147


8,979


















   Research and development expenses (2)

1,915


(12)


1,903


1,728


-


1,728


















   Selling, general and administrative expenses

6,474




6,337


6,326




6,273






Non-cash amortization of acquired intangible assets



-






(53)








Stock-based compensation



(137)






-



Operating income 

1,071


296


1,367


778


200


978


















   Financial income (expenses), net

(39)


-


(39)


16


-


16


















   Taxes on income (3)

(350)


(83)


(433)


(192)


(91)


(283)


















   Other 

(21)


-


(21)


2


-


2


















Net income 

661


213


874


604


109


713


















   Less: Net income attributable to the noncontrolling interest

(10)


-


(10)


-


-


-


















Net income attributable to Cimatron's shareholders

$ 651


$ 213


$ 864


$ 604


$ 109


$ 713

Net income per share - basic and diluted 

$ 0.06




$ 0.08


$ 0.06




$ 0.08


















Weighted average number of shares outstanding






























Basic EPS (in thousands)

10,731




10,731


9,348




9,348



















Diluted EPS (in thousands)

10,731




10,731


9,358




9,358



































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





(2) Non-GAAP adjustment to exclude stock-based compensation







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




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