Cimatron Reports $1.0M Non-GAAP Operating Profit in the Third Quarter of 2012

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Reconciliation between results on a GAAP and non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income included herein. Non-GAAP financial measures consist of GAAP financial measures adjusted to include recognition of deferred revenues of acquired companies and to exclude amortization of acquired intangible assets and deferred income tax, as well as certain business combination and other accounting entries. The purpose of such adjustments is to give an indication of our performance exclusive of non-cash charges and other items that are considered by management to be outside of our core operating results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. We believe that these non-GAAP measures help investors to understand our current and future operating performance, especially as our two most recent acquisitions have resulted in amortization and non-cash items that have had a material impact on our GAAP results. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.

About Cimatron

With 30 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM software solutions for mold, tool and die makers as well as manufacturers of discrete parts. Cimatron is committed to providing comprehensive, cost-effective solutions that streamline manufacturing cycles and ultimately shorten product delivery time.

The Cimatron product line includes the CimatronE and GibbsCAM brands with software solutions for mold design, die design, electrode design, 2.5 to 5 Axis milling, wire EDM, turn, Mill-turn, rotary milling, multi-task machining, and tombstone machining. Cimatron's subsidiaries and extensive distribution network serve and support customers in the automotive, aerospace, medical, consumer plastics, electronics, and other industries in over 40 countries worldwide.

Cimatron's shares are publicly traded on the NASDAQ exchange and the TASE under the symbol CIMT. For more information, please visit Cimatron's web site at: http://www.cimatron.com 

Safe Harbor Statement

This press release includes forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risk and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate to Cimatron's plans, objectives and expected financial and operating results. The words "may," "could," "would," "will," "believe," "anticipate," "estimate," "expect," "intend," "plan," and similar expressions or variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Cimatron's ability to control. The risks and uncertainties that may affect forward looking statements include, but are not limited to: currency fluctuations, global economic and political conditions, marketing demand for Cimatron products and services, long sales cycles, new product development, assimilating future acquisitions, maintaining relationships with customers and partners, and increased competition. For more details about the risks and uncertainties related to Cimatron's business, refer to Cimatron's filings with the Securities and Exchange Commission. Cimatron cannot assess the impact of or the extent to which any single factor or risk, or combination of them, may cause. Cimatron undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

CIMATRON LIMITED

CONSOLIDATED STATEMENTS OF INCOME

(US Dollars in thousands, except for per share data)

                                                Three months ended   Nine months ended
                                                    September 30,       September 30,
                                                   2012      2011      2012      2011
 
    Total revenue                                 9,463     9,619    29,957    28,488
 
    Total cost of revenue                         1,218     1,288     3,570     3,906
 
    Gross profit                                  8,245     8,331    26,387    24,582
 
    Research and development expenses, net        1,613     1,654     4,935     4,708
 
    Selling, general and administrative expenses  5,918     5,928    18,019    17,654
    Operating income                                714       749     3,433     2,220
 
    Financial income (expenses), net                 41      (163)      (51)       (9)
 
    Taxes on income                                (199)     (566)     (999)     (988)
 
    Other                                           (18)        1        (7)       (9)
 
    Net income                                      538        21     2,376     1,214
 
    Less: Net (income) loss attributable to the
    noncontrolling interest                         (15)      (14)      (24)       13
 
    Net income attributable to Cimatron's
    shareholders                                      $  523              $  7      $  2,352      $  1,227
        Net  income  per  share  -  basic  and  diluted          $  0.06        $  0.00        $  0.25        $  0.13
  
        Weighted  average  number  of  shares  outstanding
  
        Basic  EPS  (in  thousands)                                            9,314          9,300          9,308          9,235
  
        Diluted  EPS  (in  thousands)                                        9,331          9,315          9,325          9,284
 


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