CIMATRON LIMITED |
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STATEMENTS OF CASH FLOWS |
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(US Dollars in thousands) |
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Six months ended |
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June 30, |
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2013 |
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2012 |
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Cash flows from operating activities: |
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Net income |
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$ 1,603 |
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$ 1,838 |
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Adjustments to reconcile net income |
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to net cash provided by operating activities: |
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Depreciation and amortization |
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557 |
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686 |
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Increase (decrease) in accrued severance pay |
232 |
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(476) |
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Loss on disposal of businesses – discontinued operations |
- |
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(2) |
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Deferred taxes, net |
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(90) |
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(180) |
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Changes in assets and liabilities: |
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Decrease (increase) in accounts receivable and prepaid expenses |
(258) |
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528 |
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Increase in inventory |
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(8) |
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(1) |
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Decrease (increase) in deposits with insurance companies and severance pay fund |
(122) |
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5 |
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Increase in trade payables, accrued expenses and other liabilities |
1,264 |
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2,329 |
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Net cash provided by operating activities |
3,178 |
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4,727 |
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Cash flows from investing activities: |
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Proceeds from sale of property and equipment |
9 |
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1 |
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Purchase of property and equipment |
(83) |
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(126) |
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Net cash used in investing activities |
(74) |
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(125) |
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Cash flows from financing activities: |
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Short-term bank credit |
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2,499 |
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(58) |
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Long-term bank credit |
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- |
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(7) |
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Cash distribution to shareholders |
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(7,916) |
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(1,611) |
Proceeds from issuance of shares upon exercise of options |
47 |
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40 |
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Net cash used in financing activities |
(5,370) |
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(1,636) |
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Net increase (decrease) in cash and cash equivalents |
(2,266) |
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2,966 |
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Effect of exchange rate changes on cash |
(60) |
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(68) |
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Cash and cash equivalents at beginning of period |
11,903 |
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11,787 |
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Cash and cash equivalents at end of period |
$ 9,577 |
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$ 14,685 |
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Appendix A - Non-cash transactions |
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Purchase of property on credit |
$ 122 |
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$ 89 |
Cimatron Reports Record Second Quarter Revenues in Q2 2013
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