GIVAT SHMUEL, Israel, November 7, 2012 /PRNewswire/ --
Cimatron Limited (NASDAQ and TASE: CIMT), a leading provider of integrated CAD/CAM software solutions for the toolmaking and manufacturing industries, today announced financial results for the third quarter and first nine months of 2012.
Highlights of Cimatron's results for these periods include the following:
- 3% year-over-year revenue increase on a constant currency basis in Q3 2012
- 27% year-over-year non-GAAP operating profit increase in the first nine months of 2012
- $ 5 . 1 M positive cash flow from operating activities in the first nine months of 2012 , e xcluding a one-time payment of $2.5M to the Office of Chief Scientist in the Israeli Ministry of Industry, Trade and Labor ( OCS )
Concurrently with the announcement of its results, Cimatron today also declared a cash dividend of NIS 0.41 (approximately US$0.105) per share on outstanding ordinary shares, representing a total dividend payment of approximately $1.0 million. The dividend is payable on December 17, 2012 to shareholders of record at the close of business on November 28, 2012. Commenting on the results, Danny Haran, President and Chief Executive Officer of Cimatron, noted "Revenue in the third quarter of 2012 increased by 3% compared to the third quarter of 2011 on a constant currency basis (down 2% in nominal values), with the highest growth coming from North America, and a healthy growth in Europe, mainly in Germany and Italy. Typically, the third quarter of each calendar year is our weakest of the year, and the third quarter of 2012 was no exception. Yet, we are pleased with our continued healthy operating profit margins and cash flows. Cash flow from operating activities in the first nine months of 2012 was $5.1M (excluding the $2.5M one-time payment to the OCS that we announced in August this year). Our confidence in continued profitability and positive cash flows going forward allows us to announce yet another dividend distribution of approximately $1M payable on December 17, 2012 to shareholders of record at the close of business on November 28, 2012." concluded Mr. Haran.The following provides details on Cimatron's GAAP and non-GAAP results for the third quarter and first nine months of 2012: