Cimatron Reports Best Ever Third Quarter with Record Q3 Revenues, Operating Profit and Net Profit

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For those unable to listen to the live call, a replay of the call will be available beginning on the day after the call at the investor relations section of Cimatron's website, at: www.cimatron.com

Reconciliation between results on a GAAP and non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income included herein. Non-GAAP financial measures consist of GAAP financial measures adjusted to include recognition of deferred revenues of acquired companies and to exclude amortization of acquired intangible assets, stock based compensation and deferred income tax, as well as certain business combination and other accounting entries. The purpose of such adjustments is to give an indication of our performance exclusive of non-cash charges and other items that are considered by management to be outside of our core operating results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. We believe that these non-GAAP measures help investors to understand our current and future operating performance. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.

About Cimatron

With over 30 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM software solutions for mold, tool and die makers as well as manufacturers of discrete parts. Cimatron is committed to providing comprehensive, cost-effective solutions that streamline manufacturing cycles and ultimately shorten product delivery time.

The Cimatron product line includes the CimatronE and GibbsCAM brands with software solutions for mold design, die design, electrode design, 2.5 to 5 Axis milling, wire EDM, turn, Mill-turn, rotary milling, multi-task machining, and tombstone machining. Cimatron's subsidiaries and extensive distribution network serve and support customers in the automotive, aerospace, medical, consumer plastics, electronics, and other industries in over 40 countries worldwide.

Cimatron's shares are publicly traded on the NASDAQ under the symbol CIMT. For more information, please visit Cimatron's web site at:  http://www.cimatron.com 

Safe Harbor Statement

This press release contains forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risk and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate to Cimatron's plans, objectives and expected financial and operating results. The words "may," "could," "would," "will," "believe," "anticipate," "estimate," "expect," "intend," "plan," and similar expressions or variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Cimatron's ability to control. The risks and uncertainties that may affect forward looking statements include, but are not limited to: currency fluctuations, global economic and political conditions, marketing demand for Cimatron products and services, long sales cycles, new product development, assimilating future acquisitions, maintaining relationships with customers and partners, and increased competition. For more details about the risks and uncertainties related to Cimatron's business, refer to Cimatron's filings with the Securities and Exchange Commission. Cimatron cannot assess the impact of or the extent to which any single factor or risk, or combination of them, may cause. Cimatron undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

 

Company Contact:

Investor Relations contact

Ilan Erez, Chief Financial Officer

Ehud Helft/Kenny Green

Cimatron Ltd.

GK Investor Relations

Tel.; 972-73-237-0114

Tel: (US) 1 646 201 9246

Email: ilane@cimatron.com

Email: Cimatron@gkir.com

 

CIMATRON LIMITED

CONSOLIDATED STATEMENTS OF INCOME

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












Three months ended


Nine months ended



September 30,


September 30,



2014


2013


2014


2013










Total revenue

11,160


10,301


33,877


31,498










Total cost of revenue

1,465


1,405


4,418


4,122










Gross profit

9,695


8,896


29,459


27,376










   Research and development expenses

1,857


1,790


5,643


5,276










   Selling, general and administrative expenses

6,374


5,891


19,609


18,694

Operating income 

1,464


1,215


4,207


3,406










   Financial income (expenses), net

(105)


15


(109)


(9)










   Taxes on income

(393)


(265)


(1,152)


(834)









   Other

4


(1)


(22)


4










Net income 

970


964


2,924


2,567










   Less: Net income attributable to the noncontrolling interest

-


(9)


(10)


(6)










Net income attributable to Cimatron's shareholders

$ 970


$ 955


$ 2,914


$ 2,561

Net income per share - basic and diluted

$ 0.09


$ 0.10


$ 0.27


$ 0.27










Weighted average number of shares outstanding


















Basic EPS (in thousands)

10,761


9,727


10,748


9,480











Diluted EPS (in thousands)

10,761


9,740


10,761


9,488











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