Cimatron Limited today announced financial results for the fourth quarter and full year of 2013.
Highlights of Cimatron's results for the fourth quarter and full year of 2013 include the following:
- Record revenues of $44.2M in 2013 and $12.7M in Q4/13
- Record non-GAAP operating profit of $6.3M in 2013 and $2.4M in Q4/13 with operating margins of 14% and 18%, respectively
- Record non-GAAP net profit of $4.7M in full year 2013
- $0.48 non-GAAP EPS in full year 2013
- $13.0M end-of-year net cash balance
Commenting on the results, Danny Haran, President and Chief Executive Officer of Cimatron, noted, "We are pleased to report yet another record quarter, rounding out a record year that was also the fourth year in which we have shown continued growth in revenues and profits. The revenue growth on a constant currency basis in 2013 was 3.2%, in line with the revenue growth that we have seen in our market. Throughout 2013, our operating profit was unfavorably affected by the weakening of the US dollar versus the Israeli Shekel, as a considerable percentage of our expenses is denominated in Israeli Shekels, whereas we record no revenues in that currency.
"On the product side, we are excited about the coming release of CimatronE version 12, expected in mid-2014. This version will include new enhancements covering many aspects of mold and die design and manufacturing, including our first solutions geared for the 3D printing market. As we've indicated in previous announcements, CimatronE version 12 will include a new module for the design and analysis of conformal cooling systems, an application of 3D printing. This version will also support the Additive Manufacturing File (AMF) format – the new standard for converting 3D models into digital files for 3D printing and additive manufacturing. We are confident that we will identify additional uses and applications of our technology for additive manufacturing as we gain more exposure to this emerging market. We believe that these developments, along with other investments in our traditional target markets, will continue to drive growth in revenues and profits going forward," concluded Mr. Haran.
To view an unabridged version of this press release, visit: http://www.cimatron.com/Group/pressreleases.aspx?FolderID=3099&docID=23539&lang=en
