Cimatron Reports Record Second Quarter in all Major Parameters in Q2/2014

 

 

CIMATRON LIMITED

RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION

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




































Three months ended


Six months ended







June 30,


June 30,









2014






2013






2014






2013









GAAP


Adj.


NON-GAAP


GAAP


Adj.


NON-GAAP


GAAP


Adj.


NON-GAAP


GAAP


Adj.


NON-GAAP






























Total revenue 

11,754


-


11,754


11,039


-


11,039


22,717


-


22,717


21,197


-


21,197






























Total cost of revenue (1)

1,450


(147)


1,303


1,391


(147)


1,244


2,953


(294)


2,659


2,717


(294)


2,423






























Gross profit

10,304


147


10,451


9,648


147


9,795


19,764


294


20,058


18,480


294


18,774






























   Research and development expenses (2)

1,871


(12)


1,859


1,758


-


1,758


3,786


(24)


3,762


3,486


-


3,486






























   Selling, general and administrative expenses

6,761




6,614


6,477




6,445


13,235




12,951


12,803




12,718



Non-cash amortization of acquired intangible assets



-






(32)






-






(85)





Stock-based compensation



(147)






-






(284)






-



Operating income 

1,672


306


1,978


1,413


179


1,592


2,743


602


3,345


2,191


379


2,570






























   Financial income (expenses), net

35


-


35


(40)


-


(40)


(4)


-


(4)


(24)


-


(24)






























   Taxes on income (3)

(409)


(85)


(494)


(377)


-


(377)


(759)


(168)


(927)


(569)


(91)


(660)






























   Other 

(5)


-


(5)


3


-


3


(26)


-


(26)


5


-


5






























Net income 

1,293


221


1,514


999


179


1,178


1,954


434


2,388


1,603


288


1,891






























   Less: Net (income) loss attributable to the noncontrolling interest

-


-


-


3


-


3


(10)


-


(10)


3


-


3






























Net income attributable to Cimatron's shareholders

$ 1,293


$ 221


$ 1,514


$ 1,002


$ 179


$ 1,181


$ 1,944


$ 434


$ 2,378


$ 1,606


$ 288


$ 1,894

Net income per share - basic and diluted 

$ 0.12




$ 0.14


$ 0.11




$ 0.13


$ 0.18




$ 0.22


$ 0.17




$ 0.20






























Weighted average number of shares outstanding






















































Basic EPS (in thousands)

10,751




10,751


9,362




9,362


10,741




10,741


9,355




9,355































Diluted EPS (in thousands)

10,761




10,761


9,362




9,362


10,744




10,744


9,360




9,360





















































































































(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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