CIMdata PLM Industry Summary Online Archive
12 November 2013
Financial News
Cimatron Reports Best Ever Third Quarter with Record Q3 Revenues, Operating Profit and Net Profit
Cimatron Limited today announced financial results for the third quarter and first nine months of 2013.
Highlights of Cimatron's results for the third quarter of 2013 include the following:
- 45% increase in y-o-y non-GAAP operating profit, to a Q3 record of $1.4 million
- 62% increase in y-o-y non-GAAP net profit, to a Q3 record of $1.1 million
- Record Q3 revenues of $10.3 million, a 9% y-o-y increase (6% in constant currencies)
- 88% gross margin and 14% operating margin on a non-GAAP basis
- $0.11 non-GAAP EPS
- $12.9 million end of quarter net cash balance
Commenting on the results, Danny Haran, President and Chief Executive Officer of Cimatron, noted, "We are very pleased to report Q3/13 as a record third quarter in practically all parameters. In particular, we are pleased that the year-over-year revenue growth in the quarter was translated to significant year-over-year growth in operating and net profits.
"We remain faithful to our long term product strategy, striving to bring ever more value to our customers via internal development as well as through new third party partnerships. Our recent agreement with MachineWorks, to incorporate their Polygonica software inside CimatronE, is a perfect example. We believe that our enhanced investment in R&D, as well as in sales and marketing, will support further revenue and profit growth going forward. In parallel, we continue to explore M&A opportunities, where synergy can be found in terms of product, technology or distribution channels," concluded Mr. Haran.
Cimatron's management will host a conference call today, November 12, 2013, at 9:00 EST, 16:00 Israel time. On the call, management will review and discuss the results, and will answer questions by investors.
To participate, please call one of the following teleconferencing numbers. Please begin placing your call at least 5 minutes before the conference call commences.
USA: +1-888-668-9141
International: +972-3-9180610
Israel: 03-9180610
For those unable to listen to the live call, a replay of the call will be available beginning on the day after the call at the investor relations section of Cimatron's website, at: www.cimatron.com
To view an unabridged version of this press release, visit: http://www.cimatron.com/Group/pressreleases.aspx?FolderID=3099&docID=23343&lang=en
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