CIMATRON LIMITED
RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION
(US Dollars in thousands, except for per share data)
Three months ended September 30, 2012 2011 GAAP Adj. NON-GAAP GAAP Adj. NON-GAAP Total revenue 9,463 - 9,463 9,619 - 9,619 Total cost of revenue 1,218 1,071 1,288 1,141 Non-cash amortization of acquired intangible assets (147) (147) One-time income from OCS agreement Gross profit 8,245 147 8,392 8,331 147 8,478 Research and development expenses, net 1,613 - 1,613 1,654 - 1,654 Selling, general and administrative expenses(1) 5,918 (99) 5,819 5,928 (99) 5,829 Operating income 714 246 960 749 246 995 Financial income (expenses), net 41 - 41 (163) - (163) Taxes on income (2) (199) (90) (289) (566) 565 (1) Other (18) - (18) 1 - 1 Net income 538 156 694 21 811 832 Less: Net (income) loss attributable to the noncontrolling interest (15) - (15) (14) - (14) Net income attributable to Cimatron's shareholders $ 523 $ 156 $ 679 $ 7 $ 811 $ 818 Net income per share - basic and diluted $ 0.06 $ 0.07 $ 0.00 $ 0.09 Weighted average number of shares outstanding Basic EPS (in thousands) 9,314 9,314 9,300 9,300 Diluted EPS (in thousands) 9,331 9,331 9,315 9,315 (1) Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets. (2) Non-GAAP adjustment to exclude the effect of deferred taxes and other non-cash tax provisions.
Table continued…
Nine months ended September 30, 2012 2011 GAAP Adj. NON-GAAP GAAP Adj. NON-GAAP Total revenue 29,957 - 29,957 28,488 - 28,488 Total cost of revenue 3,570 3,548 3,906 3,465 Non-cash amortization of acquired intangible assets (441) (441) One-time income from OCS agreement 419 Gross profit 26,387 22 26,409 24,582 441 25,023 Research and development expenses, net 4,935 - 4,935 4,708 - 4,708 Selling, general and administrative expenses(1) 18,019 (296) 17,723 17,654 (303) 17,351 Operating income 3,433 318 3,751 2,220 744 2,964 Financial income (expenses), net (51) - (51) (9) - (9) Taxes on income(2) (999) 28 (971) (988) 887 (101) Other (7) - (7) (9) - (9) Net income 2,376 346 2,722 1,214 1,631 2,845 Less: Net (income) loss attributable to the noncontrolling interest (24) - (24) 13 - 13 Net income attributable to Cimatron's shareholders $ 2,352 $ 346 $ 2,698 $ 1,227 $ 1,631 $ 2,858 Net income per share - basic and diluted $ 0.25 $ 0.29 $ 0.13 $ 0.31 Weighted average number of shares outstanding Basic EPS (in thousands) 9,308 9,308 9,235 9,235 Diluted EPS (in thousands) 9,325 9,325 9,284 9,284 (1) Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets. (2) Non-GAAP adjustment to exclude the effect of deferred taxes and other non-cash tax provisions.