Cimatron Reports $11 Million Revenues in Q1/14, Marking Record First Quarter Revenues, Operating Profit and Cash Flow

 

CIMATRON LIMITED

STATEMENTS OF CASH FLOWS

(US Dollars in thousands)












Three months ended





March 31,





2014


2013








Cash flows from operating activities:




Net income 



$           661


$           604








Adjustments to reconcile net income 




   to net cash provided by (used in) operating activities:




Depreciation and amortization


239


293

Increase in accrued severance pay

62


86

Stock based compensation


149


-

Deferred taxes, net



(77)


(90)








Changes in assets and liabilities:




Increase in accounts receivable and prepaid expenses

(258)


(1,194)

Decrease in inventory


5


-

Decrease (increase) in deposits with insurance companies and severance pay fund

6


(110)

Increase in trade payables, accrued expenses and other liabilities

2,425


280

Net cash provided by (used in) operating activities

3,212


(131)








Cash flows from investing activities:




Proceeds from sale of property and equipment

-


7

Purchase of property and equipment

(65)


(49)

Net cash used in investing activities

(65)


(42)















Cash flows from financing activities:




Short-term bank credit


509


5,658

Purchase of non-controlling interest

(92)


-

Cash distribution to shareholders




-


(7,874)

Net cash provided by (used in) financing activities

417


(2,216)















Net increase (decrease) in cash and cash equivalents

3,564


(2,389)

Effect of exchange rate changes on cash

(2)


(88)

Cash and cash equivalents at beginning of period

13,052


11,903

Cash and cash equivalents at end of period

$      16,614


$        9,426








Appendix A - Non-cash transactions




                   Purchase of property on credit

$            20


$              5









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