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