CIMATRON LIMITED |
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STATEMENTS OF CASH FLOWS |
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(US Dollars in thousands) |
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three months ended |
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March 31, |
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2013 |
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2012 |
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Cash flows from operating activities: |
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Net income |
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$ 604 |
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$ 843 |
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Adjustments to reconcile net income |
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to net cash provided by (used in) operating activities: |
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Depreciation and amortization |
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293 |
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337 |
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Increase in accrued severance pay |
86 |
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218 |
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Deferred taxes, net |
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(90) |
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(92) |
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Changes in assets and liabilities: |
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Increase in accounts receivable and prepaid expenses |
(1,194) |
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(755) |
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Increase in inventory |
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- |
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(21) |
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Increase in deposits with insurance companies and severance pay fund |
(110) |
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(118) |
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Increase in trade payables, accrued expenses and other liabilities |
280 |
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1,941 |
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Net cash provided by (used in) operating activities |
(131) |
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2,353 |
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Cash flows from investing activities: |
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Proceeds from sale of property and equipment |
7 |
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- |
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Purchase of property and equipment |
(49) |
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(63) |
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Net cash used in investing activities |
(42) |
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(63) |
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Cash flows from financing activities: |
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Short-term bank credit |
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5,658 |
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663 |
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Long-term bank credit |
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- |
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(1) |
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Cash distribution to shareholders |
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(7,874) |
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- |
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Proceeds from issuance of shares upon exercise of options |
- |
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14 |
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Net cash provided by (used in) financing activities |
(2,216) |
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676 |
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Net increase (decrease) in cash and cash equivalents |
(2,389) |
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2,966 |
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Effect of exchange rate changes on cash |
(88) |
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151 |
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Cash and cash equivalents at beginning of period |
11,903 |
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11,787 |
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Cash and cash equivalents at end of period |
$ 9,426 |
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$ 14,904 |
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Appendix A - Non-cash transactions |
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Purchase of property on credit |
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$ 5 |
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$ 8 |
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