This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Cimatron Reports $1.0M Non-GAAP Operating Profit In The Third Quarter Of 2012

Stocks in this article: CIMT

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,
                                                   2012      2011      2012      2011
 
    Total revenue                                 9,463     9,619    29,957    28,488
 
    Total cost of revenue                         1,218     1,288     3,570     3,906
 
    Gross profit                                  8,245     8,331    26,387    24,582
 
    Research and development expenses, net        1,613     1,654     4,935     4,708
 
    Selling, general and administrative expenses  5,918     5,928    18,019    17,654
    Operating income                                714       749     3,433     2,220
 
    Financial income (expenses), net                 41      (163)      (51)       (9)
 
    Taxes on income                                (199)     (566)     (999)     (988)
 
    Other                                           (18)        1        (7)       (9)
 
    Net income                                      538        21     2,376     1,214
 
    Less: Net (income) loss attributable to the
    noncontrolling interest                         (15)      (14)      (24)       13
 
    Net income attributable to Cimatron's
    shareholders                                  $ 523       $ 7   $ 2,352   $ 1,227
    Net income per share - basic and diluted     $ 0.06    $ 0.00    $ 0.25    $ 0.13
 
    Weighted average number of shares outstanding
 
    Basic EPS (in thousands)                      9,314     9,300     9,308     9,235
 
    Diluted EPS (in thousands)                    9,331     9,315     9,325     9,284

CIMATRON LIMITED

RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION

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

                                                     Three months ended
                                                         September 30,
                                                2012                      2011
                                        GAAP    Adj.   NON-GAAP   GAAP    Adj.   NON-GAAP
 
    Total revenue                      9,463      -      9,463   9,619      -      9,619
 
    Total cost of revenue              1,218             1,071   1,288             1,141
    Non-cash amortization
    of acquired intangible assets              (147)                     (147)
    One-time income from OCS agreement
 
    Gross profit                       8,245    147      8,392   8,331    147      8,478
 
    Research and development expenses,
    net                                1,613      -      1,613   1,654      -      1,654
 
    Selling, general and 
    administrative expenses(1)         5,918    (99)     5,819   5,928    (99)     5,829
    Operating income                     714    246        960     749    246        995
 
    Financial income (expenses), net      41      -         41    (163)     -       (163)
 
    Taxes on income (2)                 (199)   (90)      (289)   (566)   565         (1)
 
    Other                                (18)     -        (18)      1      -          1
 
    Net income                           538    156        694      21    811        832
 
    Less: Net (income) loss 
    attributable to the
    noncontrolling interest              (15)     -        (15)    (14)     -        (14)
 
    Net income attributable to 
    Cimatron's shareholders            $ 523  $ 156      $ 679     $ 7  $ 811      $ 818
    Net income per share - basic 
    and diluted                       $ 0.06            $ 0.07  $ 0.00            $ 0.09
 
    Weighted average number of 
    shares outstanding
 
        Basic EPS (in thousands)       9,314             9,314   9,300             9,300
        Diluted EPS (in thousands)     9,331             9,331   9,315             9,315
 
    (1) Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets.
    (2) Non-GAAP adjustment to exclude the effect of deferred taxes and other non-cash tax provisions.

Table continued…

                                                     Nine months ended
                                                        September 30,
                                                2012                      2011
                                        GAAP    Adj.   NON-GAAP   GAAP    Adj.   NON-GAAP
 
    Total revenue                     29,957      -     29,957  28,488      -     28,488
 
    Total cost of revenue              3,570             3,548   3,906             3,465
    Non-cash amortization of 
    acquired intangible assets                 (441)                     (441)
    One-time income from OCS agreement          419
 
    Gross profit                      26,387     22     26,409  24,582    441     25,023
 
    Research and development 
    expenses, net                      4,935      -      4,935   4,708      -      4,708
 
    Selling, general and 
    administrative expenses(1)        18,019   (296)    17,723  17,654   (303)    17,351
    Operating income                   3,433    318      3,751   2,220    744      2,964
 
    Financial income (expenses), net     (51)     -        (51)     (9)     -         (9)
 
    Taxes on income(2)                  (999)    28       (971)   (988)   887       (101)
 
    Other                                 (7)     -         (7)     (9)     -         (9)
 
    Net income                         2,376    346      2,722   1,214  1,631      2,845
 
    Less: Net (income) loss 
    attributable to the
    noncontrolling interest              (24)     -        (24)     13      -         13
 
    Net income attributable to 
    Cimatron's shareholders          $ 2,352  $ 346    $ 2,698 $ 1,227 $ 1,631   $ 2,858
    Net income per share
    - basic and diluted               $ 0.25            $ 0.29  $ 0.13            $ 0.31
 
    Weighted average number 
    of shares outstanding
 
        Basic EPS (in thousands)       9,308             9,308   9,235             9,235
        Diluted EPS (in thousands)     9,325             9,325   9,284             9,284
 
    (1) Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets.
    (2) Non-GAAP adjustment to exclude the effect of deferred taxes and other non-cash tax provisions.

CIMATRON LIMITED

5 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs