Cimatron Reports Revenues of $9.9M and Non-GAAP Operating Profit of $1.1M in Q1 2012
CIMATRON LIMITED
STATEMENTS OF CASH FLOWS
(US Dollars in thousands)
Three months
ended
March 31,
2012 2011
Cash flows from operating activities:
Net income $ 843 $ 311
Adjustments to reconcile net income
to net cash provided by operating activities:
Depreciation and amortization 337 375
Increase (decrease) in accrued severance pay 218 (8)
Deferred taxes, net (92) 170
Changes in assets and liabilities:
Increase in accounts receivable and prepaid expenses (755) (282)
Decrease (increase) in inventory (21) 17
Increase in deposits with insurance companies
and severance pay fund (118) (20)
Increase in trade payables, accrued expenses and
other liabilities 1,941 715
Net cash provided by operating activities 2,353 1,278
Cash flows from investing activities:
Purchase of property and equipment (63) (45)
Net cash used in investing activities (63) (45)
Cash flows from financing activities:
Short-term bank credit 663 456
Long-term bank credit (1) -
Proceeds from issuance of shares upon exercise of options 14 728
Net cash provided by financing activities 676 1,184
Net increase in cash and cash equivalents 2,966 2,417
Effect of exchange rate changes on cash 151 342
Cash and cash equivalents at beginning of period 11,787 10,221
Cash and cash equivalents at end of period $ 14,904 $ 12,980
Appendix A - Non-cash transactions
Purchase of property on credit $ 8 $ 6
