CIMdata PLM Industry Summary Online Archive
22 November 2004
Financial News
Cimatron Ltd Reports 2004 Third Quarter Results
Cimatron Limited announced financial results for the third quarter ending September 30, 2004.
Revenues for the third quarter of 2004 were $5.3 million compared to $4.88 million in the third quarter of 2003 (growth of 8.3%) and to $6.11 million in the second quarter of 2004. Net loss for the quarter was $352K compared to $574K net loss in Q3 2003.
Revenues of 2004 first nine months were $16.76M compared to $15.55M last year, representing a year-over-year growth of 8%. The first 3 quarters loss was $139K compared to $573K in the same period last year.
Commenting on the third quarter results, Zvika Naggan, President and Chief Executive Officer of Cimatron, stated, "During this quarter we achieved substantial growth in revenues compared to the parallel quarter last year. Considering strong industry seasonality where Q3 is substantially weaker relatively to the rest of the year, we continue to see overall improvement in the company's results compared to last year. The nine-months results compared to the same period last year show a clear trend of revenue-growth and reduction in loss. We are very optimistic that this trend will remain consistent throughout 2004.
During this quarter we continued to see increased revenues from Asia, representing 20% of our sales. We expanded our activities in China through our Chinese subsidiary: the revenues from China more than doubled in the first nine months of 2004 compared to parallel period last year.
In addition to the growing activity in the Asian market, we continue to enhance our global presence and retain leading market share in other territories like the US and Western Europe. For example, Cimatron is among the leading CAD/CAM software for toolmakers in Italy and in Germany.
Cimatron E, our flagship product, continued to gain market acceptance during this quarter. Its integrative design and manufacturing solution for toolmakers-from part analysis and preparation tools, to drawing and machining-continued to attain our customers' confidence. The product is further enhanced in version 6, which was launched in November 2004. Cimatron E 6.0 features high level of automation, full associativity and system integration, and is designed to guarantee our customers with greater productivity and short delivery time.
Full financials are available at http://www.cimatron.com/pages/newsContent.asp?intGlobalId=91 .
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