Cimatron Limited today announced its financial results for the first quarter of 2014.
Highlights of Cimatron’s results for the first quarter of 2014 include the following:
- 40% year-over-year increase in non-GAAP operating profit, to a Q1 record of $1.4 million
- Record Q1 revenues of $11 million, an 8% year-over-year increase (6.3% on constant currency basis)
- 16th consecutive quarter with year-over-year revenue growth on a constant currency basi
- $3.2 million cash flow from operating activities; End of quarter net cash balance of $16.1 million or $1.50 per share
Commenting on the results, Danny Haran, President and Chief Executive Officer of Cimatron, noted, “We are very pleased to report Q1 2014 as a record first quarter. In particular, we are pleased that the year-over-year revenue growth of 8% in the quarter was translated to 40% year-over-year growth in operating profit, reflecting once again the strong operating leverage inherent in our business model.
“The solid growth in both revenues and operating profit, as well as the strong positive cash flow, will enable us to continue investing in product development and pursuing additional opportunities for expanding our distribution network, while continuing to look for M&A opportunities.
“We recently held two large reseller meetings, one for the GibbsCAM product line and one for the CimatronE product line, where the upcoming versions of both products were presented and welcomed with enthusiasm. We have a lot to look forward to in the 2014 versions, which include exciting developments for manufacturing, tool making and additive manufacturing,” concluded Mr. Haran.
To view an unabridged version of this press release, visit: http://www.cimatron.com/Group/pressreleases.aspx?FolderID=3099&docID=23567&lang=en
