CIMdata PLM Industry Summary Online Archive
13 May 2013
Financial News
Cimatron Reports Revenues of $10.2 million and Non-GAAP Operating Profit of $1.0 million in Q1 2013
Cimatron Limited today announced financial results for the first quarter of 2013.
Commenting on the results, Danny Haran, President and Chief Executive Officer of Cimatron, noted, “We are pleased to report yet another record first quarter in terms of software license and maintenance revenues. Moreover, we are pleased with the healthy growth in our recurring maintenance revenues, indicating the increased confidence that our customers have in our software solutions, in realizing the benefits of staying updated with our latest product versions. While our overall year-over-year revenue growth was modest in the quarter, this was due mainly to license revenue recognition considerations that dictated deferring certain revenues. We believe that we will be able to recognize these later on this year.
We continue to explore the opportunities in software solutions for the field of additive manufacturing, more commonly known as 3D printing, and we are looking into how we can better serve customers who apply this emerging technology into their manufacturing processes. In line with our additive manufacturing strategy, we are also examining partnerships and M&A opportunities with companies that possess technologies related to this field.
Given the opportunities we see in some of our markets, we recently increased our investment in sales and marketing, with emphasis on the emerging markets and the territories that we have identified with stronger potential for further growth. We trust that these efforts, together with full adoption by customers of the new CimatronE and GibbsCAM product versions in all regions, will bear fruit in the coming quarters,” concluded Mr. Haran.
To view an unabridged version of this press release, visit: http://www.cimatron.com/Group/pressreleases.aspx?FolderID=3099&docID=23198&lang=en
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