Cimatron Reports $1.0M Non-GAAP Operating Profit in the Third Quarter of 2012


Table continued…

                                 Retained
                                 earnings                                Total
                               (accumulated  Treasury  Comprehensive  shareholders'
                                 deficit)     stock    income (loss)    equity
    Balance at December 31,
    2011                           $ (851)  $ (752)                    $ 17,132
    Changes during the nine
    months ended September
    30, 2012:
    Net income                      2,352                  2,376         2,376
    Cash dividend paid             (1,863)                              (1,863)
    Exercise of share
    options                                                                 40
    Unrealized gain on
    derivative instruments                                   218           218
    Other                                                      7             7
    Foreign currency
    translation adjustment                                   (77)          (77)
    Total comprehensive
    income                                                 2,524
    Balance at September 30,
    2012                           $ (362)  $ (752)                   $ 17,833


CIMATRON LIMITED

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
 


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