Table continued below.
CIMATRON LIMITED
STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
(US Dollars in thousands)
Retained earnings Total (accumulated Treasury Comprehensive shareholders' deficit) stock income (loss) equity Balance at December 31, 2011 $ (851) $ (752) $ 17,132 Changes during the six months ended June 30, 2012: Net income 1,829 1,838 1,838 Cash dividend paid (1,859) (1,859) Exercise of share options 40 Unrealized gain on derivative instruments 149 149 Other (93) (93) Foreign currency translation adjustment (121) (121) Total comprehensive income 1,773 Balance at June 30, 2012 $ (881) $ (752) $ 17,086
CIMATRON LIMITED
STATEMENTS OF CASH FLOWS
(US Dollars in thousands)
Six months ended June 30, 2012 2011 Cash flows from operating activities: Net income $ 1,838 $ 1,193 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 686 692 Increase (decrease) in accrued severance pay (476) 195 Loss from sale of property and equipment, net (2) - Deferred taxes, net (180) 319 Changes in assets and liabilities: Decrease in accounts receivable and prepaid expenses 528 80 Decrease (increase) in inventory (1) 19 Decrease (increase) in deposits with insurance 5 (129) companies and severance pay fund Increase in trade payables, accrued expenses and 2,329 2,274 other liabilities Net cash provided by operating activities 4,727 4,643 Cash flows from investing activities: Proceeds from sale of property and equipment 1 - Purchase of property and equipment (126) (87) Net cash used in investing activities (125) (87) Cash flows from financing activities: Short-term bank credit (58) (4) Long-term bank credit (7) (43) Cash dividend paid (1,611) (1,208) Proceeds from issuance of shares upon exercise of 40 733 options Net cash used in financing activities (1,636) (522) Net increase in cash and cash equivalents 2,966 4,034 Effect of exchange rate changes on cash (68) 238 Cash and cash equivalents at beginning of period 11,787 10,221 Cash and cash equivalents at end of period $ 14,685 $ 14,493 Appendix A - Non-cash transactions Purchase of property on credit $ 89 $ 28