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

STATEMENTS OF CASH FLOWS

(US Dollars in thousands)
                                                                   Nine months ended
                                                                     September 30,
                                                                   2012        2011
 
    Cash flows from operating activities:
    Net income                                                   $ 2,376     $ 1,214
 
    Adjustments to reconcile net income
    to net cash provided by operating activities:
    Depreciation and amortization                                  1,007       1,042
    Increase (decrease) in accrued severance pay                      63         (56)
    Deferred taxes, net                                             (272)        561
 
    Changes in assets and liabilities:
    Decrease in accounts receivable and prepaid expenses           1,051          23
 
    Decrease (increase) in inventory
                                                                      (2)         (6)
    Decrease (increase) in deposits with insurance 
    companies and severance pay fund                                 (63)        130
    Increase in trade payables, accrued expenses 
    and other liabilities                                         (1,587)      1,210
    Net cash provided by operating activities                      2,573       4,118
 
    Cash flows from investing activities:
    Proceeds from sale of property and equipment                       1           -
    Purchase of property and equipment                              (243)       (282)
    Net cash used in investing activities                           (242)       (282)
 
    Cash flows from financing activities:
    Short-term bank credit                                           (40)         (5)
    Long-term bank credit                                             (7)        (35)
    Cash dividend paid                                            (1,863)     (3,216)
    Proceeds from issuance of shares upon exercise of options         40         733
    Net cash used in financing activities                         (1,870)     (2,523)
 
    Net increase in cash and cash equivalents                        461       1,313
    Effect of exchange rate changes on cash                           28          16
    Cash and cash equivalents at beginning of period              11,787      10,221
    Cash and cash equivalents at end of period                  $ 12,276    $ 11,550
    Appendix A - Non-cash transactions
        Purchase of property on credit                               $ 5       $ 119

Contact:

Ilan Erez, Chief Financial Officer     Cimatron Ltd.         Tel.: +972-73-237-0114     E-mail: ilane@cimatron.com

SOURCE Cimatron Ltd

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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