CIMATRON LIMITED | ||||||
STATEMENTS OF CASH FLOWS | ||||||
(US Dollars in thousands) | ||||||
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Three months ended | ||
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March 31, | ||
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2014 |
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2013 |
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Cash flows from operating activities: |
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Net income |
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$ 661 |
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$ 604 | |
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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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239 |
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293 | ||
Increase in accrued severance pay |
62 |
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86 | |||
Stock based compensation |
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149 |
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- | ||
Deferred taxes, net |
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(77) |
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(90) | |
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Changes in assets and liabilities: |
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Increase in accounts receivable and prepaid expenses |
(258) |
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(1,194) | |||
Decrease in inventory |
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5 |
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- | ||
Decrease (increase) in deposits with insurance companies and severance pay fund |
6 |
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(110) | |||
Increase in trade payables, accrued expenses and other liabilities |
2,425 |
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280 | |||
Net cash provided by (used in) operating activities |
3,212 |
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(131) | |||
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Cash flows from investing activities: |
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Proceeds from sale of property and equipment |
- |
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7 | |||
Purchase of property and equipment |
(65) |
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(49) | |||
Net cash used in investing activities |
(65) |
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(42) | |||
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Cash flows from financing activities: |
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Short-term bank credit |
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509 |
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5,658 | ||
Purchase of non-controlling interest |
(92) |
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- | |||
Cash distribution to shareholders |
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- |
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(7,874) |
Net cash provided by (used in) financing activities |
417 |
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(2,216) | |||
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Net increase (decrease) in cash and cash equivalents |
3,564 |
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(2,389) | |||
Effect of exchange rate changes on cash |
(2) |
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(88) | |||
Cash and cash equivalents at beginning of period |
13,052 |
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11,903 | |||
Cash and cash equivalents at end of period |
$ 16,614 |
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$ 9,426 | |||
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Appendix A - Non-cash transactions |
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Purchase of property on credit |
$ 20 |
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$ 5 | |||
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