Cimatron (CIMT) 6-K 13 Aug 14 2014 Q2 Cimatron Reports Record Second Quarter in all Major Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014
Document And Entity Information [Abstract]	'
Document Type	'6-K
Amendment Flag	'false
Document Period End Date	30-Jun-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q2
Entity Registrant Name	'CIMATRON LTD
Entity Central Index Key	'0001008595
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Non-accelerated Filer

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF INCOME [Abstract]	'	'	'	'
Total revenue	$11,754	$11,039	$22,717	$21,197
Total cost of revenue	1,450	1,391	2,953	2,717
Gross profit	10,304	9,648	19,764	18,480
Research and development expenses	1,871	1,758	3,786	3,486
Selling, general and administrative expenses	6,761	6,477	13,235	12,803
Operating income	1,672	1,413	2,743	2,191
Financial income (expenses), net	35	-40	-4	-24
Taxes on income	-409	-377	-759	-569
Other	-5	3	-26	5
Net income	1,293	999	1,954	1,603
Less: Net (income) loss attributable to the noncontrolling interest	'	3	-10	3
Net income attributable to Cimatron's shareholders	$1,293	$1,002	$1,944	$1,606
Net income per share - basic and diluted	$0.12	$0.11	$0.18	$0.17
Weighted average number of shares outstanding	'	'	'	'
Basic EPS (in thousands)	10,751	9,362	10,741	9,355
Diluted EPS (in thousands)	10,761	9,362	10,744	9,360

RECONCILIATION_BETWEEN_GAAP_AN

RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION (USD $)	3 Months Ended				6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Total revenue	$11,754		$11,039		$22,717		$21,197
Total cost of revenue	1,450		1,391		2,953		2,717
Gross profit	10,304		9,648		19,764		18,480
Research and development expenses	1,871		1,758		3,786		3,486
Selling, general and administrative expenses	6,761		6,477		13,235		12,803
Non-cash amortization of acquired intangible assets	'		'		'		'
Stock-based compensation	'		'		'		'
Operating income	1,672		1,413		2,743		2,191
Financial income (expenses), net	35		-40		-4		-24
Taxes on income	-409		-377		-759		-569
Other	-5		3		-26		5
Net income	1,293		999		1,954		1,603
Less: Net (income) loss attributable to the noncontrolling interest	'		3		-10		3
Net income attributable to Cimatron's shareholders	1,293		1,002		1,944		1,606
Net income per share - basic and diluted	$0.12		$0.11		$0.18		$0.17
Weighted average number of shares outstanding	'		'		'		'
Basic EPS (in thousands)	10,751		9,362		10,741		9,355
Diluted EPS (in thousands)	10,761		9,362		10,744		9,360
Adjustment [Member]	'		'		'		'
Total revenue	'		'		'		'
Total cost of revenue	-147	[1]	-147	[1]	-294	[1]	-294	[1]
Gross profit	147		147		294		294
Research and development expenses	-12	[2]	'	[2]	-24	[2]	'	[2]
Selling, general and administrative expenses	'		'		'		'
Non-cash amortization of acquired intangible assets	'		-32		'		-85
Stock-based compensation	-147		'		-284		'
Operating income	306		179		602		379
Financial income (expenses), net	'		'		'		'
Taxes on income	-85	[3]	'	[3]	-168	[3]	-91	[3]
Other	'		'		'		'
Net income	221		179		434		288
Less: Net (income) loss attributable to the noncontrolling interest	'		'		'		'
Net income attributable to Cimatron's shareholders	221		179		434		288
Non-GAAP [Member]	'		'		'		'
Total revenue	11,754		11,039		22,717		21,197
Total cost of revenue	1,303		1,244		2,659		2,423
Gross profit	10,451		9,795		20,058		18,774
Research and development expenses	1,859		1,758		3,762		3,486
Selling, general and administrative expenses	6,614		6,445		12,951		12,718
Non-cash amortization of acquired intangible assets	'		'		'		'
Stock-based compensation	'		'		'		'
Operating income	1,978		1,592		3,345		2,570
Financial income (expenses), net	35		-40		-4		-24
Taxes on income	-494		-377		-927		-660
Other	-5		3		-26		5
Net income	1,514		1,178		2,388		1,891
Less: Net (income) loss attributable to the noncontrolling interest	'		3		-10		3
Net income attributable to Cimatron's shareholders	$1,514		$1,181		$2,378		$1,894
Net income per share - basic and diluted	$0.14		$0.13		$0.22		$0.20
Weighted average number of shares outstanding	'		'		'		'
Basic EPS (in thousands)	10,751		9,362		10,741		9,355
Diluted EPS (in thousands)	10,761		9,362		10,744		9,360
[1]	Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets
[2]	Non-GAAP adjustment to exclude stock-based compensation
[3]	Non-GAAP adjustment to exclude the effect of deferred taxes and other non-current tax provisions.

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Total cash, cash equivalents and short-term investments	$20,427	$13,052
Trade receivables	4,971	6,838
Other current assets	2,423	2,434
Total current assets	27,821	22,324
Deposits with insurance companies and severance pay fund	3,820	3,725
Net property and equipment	1,021	977
Net other assets	10,113	10,407
Total assets	42,775	37,433
CURRENT LIABILITIES:	'	'
Short-term bank credit	13	5
Trade payables	1,035	1,356
Accrued expenses and other liabilities	5,592	6,297
Deferred revenues	7,107	2,974
Total current liabilities	13,747	10,632
LONG-TERM LIABILITIES:	'	'
Accrued severance pay	5,186	5,018
Deferred tax liability	'	69
Total long-term liabilities	5,186	5,087
Total shareholders' equity	23,842	21,714
Total liabilities and shareholders' equity	$42,775	$37,433

STATEMENTS_OF_CHANGES_IN_SHARE

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)	Total	Noncontrolling interest [Member]	Share capital [Member]	Additional paid-in capital [Member]	Accumulated other comprehensive income [Member]	Retained earnings [Member]	Treasury stock [Member]	Comprehensive income [Member]
In Thousands, unless otherwise specified
Balance at Dec. 31, 2013	$21,714	$33	$350	$17,172	$88	$4,823	($752)	'
Changes during the six months ended June 30, 2014:	'	'	'	'	'	'	'	'
Net income	1,954	10	'	'	'	1,944	'	1,954
Issuance of Restricted Shares	1	'	1	'	'	'	'	'
Stock based compensation	308	'	'	308	'	'	'	'
Other	-191	-43	'	'	-148	'	'	-191
Foreign currency translation adjustment	56	'	'	'	56	'	'	56
Total comprehensive income	'	'	'	'	'	'	'	1,819
Balance at Jun. 30, 2014	$23,842	'	$351	$17,480	($4)	$6,767	($752)	'

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income	$1,954	$1,603
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	475	557
Increase in accrued severance pay	142	232
Stock based compensation	308	'
Deferred taxes, net	-178	-90
Changes in assets and liabilities:	'	'
Decrease (increase) in accounts receivable and prepaid expenses	1,910	-258
Increase in inventory	-1	-8
Increase in deposits with insurance companies and severance pay fund	-95	-122
Increase in trade payables, accrued expenses and other liabilities	3,132	1,264
Net cash provided by operating activities	7,647	3,178
Cash flows from investing activities:	'	'
Proceeds from sale of property and equipment	'	9
Purchase of property and equipment	-175	-83
Net cash used in investing activities	-175	-74
Cash flows from financing activities:	'	'
Short-term bank credit	8	2,499
Purchase of non-controlling interest	-92	'
Cash distributions to shareholders	'	-7,916
Proceeds from issuance of restricted shares	1	47
Net cash used in financing activities	-83	-5,370
Net increase (decrease) in cash and cash equivalents	7,389	-2,266
Effect of exchange rate changes on cash	-14	-60
Cash and cash equivalents at beginning of period	13,052	11,903
Cash and cash equivalents at end of period	20,427	9,577
Appendix A - Non-cash transactions	'	'
Purchase of property on credit	$54	$122