CIMdata PLM Industry Summary Online Archive
17 May 2005
Financial News
Cimatron Ltd Reports 2005 First Quarter Results
Cimatron Limited announced financial results for the first quarter ended March 31, 2005.
Revenues for the first quarter of 2005 were $5.57 million, an increase of 3.7% compared to $5.37 million in the first quarter of 2004. Net loss for the quarter was $(981) thousand compared to a net income of $10 thousand in the first quarter of 2004.
Commenting on the first quarter results, Zvika Naggan, President and Chief Executive Officer of Cimatron, said: "Despite the moderate growth in revenue achieved in the quarter compared to Q1 of 2004, we saw a large net loss. We have taken proactive steps to reduce our cost structure; some of these steps will come into effect in the following quarters. We will continue to take cost saving actions and do our utmost to improve our bottom line results.
We remain fully committed to continue investing in our customers, sales channels and product to maintain our position in the tooling industry for the long term.
On the revenue side we are affected from the economic situation in Europe that remains our main market (55% of our revenues). In this region we have seen in Q1 a decline of 6% in revenues in Euro terms compared to the first quarter of 2004. We are encouraged by our successful growth in the US (13% growth from the comparable quarter last year) and our growth in the Asian market (21% growth from the comparable quarter last year)."
Financial tables are available at http://www.cimatron.com/Pages/NewsContent.asp?intGlobalId=100
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