CIMATRON LIMITED
CONSOLIDATED STATEMENTS OF INCOME
(US Dollars in thousands, except for per share data)
Three months ended Twelve months ended
December 31, December 31,
2008 2007 2008 2007
Total revenue 10,404 9,881 40,975 28,640
Total cost of revenue 2,142 2,230 7,769 5,440
Gross profit 8,262 7,651 33,206 23,200
Research and development
expenses, net 1,657 1,137 6,930 4,281
Selling, general and
administrative expenses 5,953 5,683 25,750 17,243
Operating income 652 831 526 1,676
Financial income
(expenses), net. (207) 91 (80) 353
Taxes on Income 263 73 237 -
Other (2) (30) 41 (106)
Net income $ 706 $ 965 $ 724 $ 1,923
Net income per share
- basic and diluted $ 0.08 $ 0.12 $ 0.08 $ 0.24
Weighted average number of shares outstanding
Basic EPS (in thousands) 9,274 7,884 9,341 7,866
Diluted EPS (in thousands) 9,274 7,921 9,360 7,910
CIMATRON LIMITED RECONCILIATION BETWEEN GAAP AND
NON-GAAP INFORMATION
(US Dollars in thousands, except for per share data)
Three months ended December 31,
2008 2007
GAAP Adj. NON-GAAP GAAP Adj. NON-GAAP
Total revenue (1) 10,404 77 10,481 9,881 - 9,881
Total cost of
revenue (2) 2,142 (148) 1,994 2,230 - 2,230
Gross profit 8,262 225 8,487 7,651 - 7,651
Research and
development
expenses, net 1,657 - 1,657 1,137 - 1,137
Selling, general
and administrative
expenses (2) 5,953 (100) 5,853 5,683 (58) 5,625
Operating income 652 325 977 831 58 889
Financial income
(expenses), net. (207) - (207) 91 - 91
Taxes on Income
(3) 263 (478) (215) 73 (22) 51
Other (2) - (2) (30) - (30)
Net income $ 706 $ (153) $ 553 $ 965 $ 36 $ 1,001
Net income per
share - basic and
diluted $ 0.08 $ 0.06 $ 0.12 $ 0.13
Weighted average
number of shares
outstanding
Basic EPS (in
thousands) 9,274 9,274 7,884 7,884
Diluted EPS (in
thousands) 9,274 9,274 7,921 7,921
(Table Continued)
Twelve months ended December 31,
2008 2007
GAAP Adj. NON-GAAP GAAP Adj. NON-GAAP
Total revenue (1) 40,975 821 41,796 28,640 28,640
Total cost of
revenue (2) 7,769 (588) 7,181 5,440 5,440
Gross profit 33,206 1,409 34,615 23,200 23,200
Research and
development
expenses, net 6,930 6,930 4,281 4,281
Selling, general
and administrative
expenses (2) 25,750 (400) 25,350 17,243 (95) 17,148
Operating income 526 1,809 2,335 1,676 95 1,771
Financial income
(expenses), net. (80) (80) 353 353
Taxes on Income (3) 237 (358) (121) - (22) (22)
Other 41 41 (106) (106)
Net income $ 724 1,451 2,175 1,923 $ 73 $ 1,996
Net income per
share - basic and
diluted $ 0.08 $ 0.23 $ 0.24 $ 0.25
Weighted average number of shares outstanding
Basic EPS (in
thousands) 9,341 9,341 7,866 7,866
Diluted EPS (in
thousands) 9,360 9,360 7,910 7,910
(1) Non-GAAP adjustment related to Gibbs' assumed
support contracts that will not be recognized on a GAAP
basis in fiscal 2008 or thereafter due to business
combination accounting rules.
(2) Non-GAAP adjustment to exclude non-cash amortization
of acquired intangible assets.
(3) Non-GAAP adjustment to exclude the effect of
deferred taxes.
CIMATRON LIMITED
CONSOLIDATED BALANCE SHEETS
(US Dollars in thousands)
December December
31, 31,
2008 2007
ASSETS
CURRENT ASSETS:
Total cash, cash equivalents and short-term $ 5,727 $ 9,026
investments
Trade receivables 7,108 7,308
Other current assets 2,697 1,467
Total current assets 15,532 17,801
Deposits with insurance companies and 2,719 2,703
severance pay fund
LONG-TERM INVESTMENTS:
Marketable investments - 1,158
Net property and equipment 1,312 1,337
Total other assets 14,307 4,328
Total assets $ 33,870 $ 27,327
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Short-term bank credit $ 155 $ 791
Trade payables 1,865 2,258
Accrued expenses and other liabilities 7,348 7,889
Deferred revenues 2,348 742
Total current liabilities 11,716 11,680
LONG-TERM LIABILITIES:
Accrued severance pay 3,933 3,929
Long-term loan 293 403
Deferred tax liability 1,729 282
Total long-term liabilities 5,955 4,614
Minority interest (4) 63
Total shareholders' equity 16,203 10,970
Total liabilities and shareholders' equity $ 33,870 $ 27,327
- -
Contact:
Ilan Erez, Chief Financial Officer Yael Nevat,
Cimatron Ltd. Commitment-IR.com
Tel.; 972-3-531-2121 Tel: +972-9-714 8866,
E-mail: ilane@cimatron.com +972-50-762-6215
E-mail: yael@commitment-IR.com
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