Table continued…
Retained
earnings Total
(accumulated Treasury Comprehensive shareholders'
deficit) stock income (loss) equity
Balance at December 31,
2011 $ (851) $ (752) $ 17,132
Changes during the nine
months ended September
30, 2012:
Net income 2,352 2,376 2,376
Cash dividend paid (1,863) (1,863)
Exercise of share
options 40
Unrealized gain on
derivative instruments 218 218
Other 7 7
Foreign currency
translation adjustment (77) (77)
Total comprehensive
income 2,524
Balance at September 30,
2012 $ (362) $ (752) $ 17,833
CIMATRON LIMITED
STATEMENTS OF CASH FLOWS
(US Dollars in thousands)
Nine months ended
September 30,
2012 2011
Cash flows from operating activities:
Net income $ 2,376 $ 1,214
Adjustments to reconcile net income
to net cash provided by operating activities:
Depreciation and amortization 1,007 1,042
Increase (decrease) in accrued severance pay 63 (56)
Deferred taxes, net (272) 561
Changes in assets and liabilities:
Decrease in accounts receivable and prepaid expenses 1,051 23
Decrease (increase) in inventory
(2) (6)
Decrease (increase) in deposits with insurance
companies and severance pay fund (63) 130
Increase in trade payables, accrued expenses
and other liabilities (1,587) 1,210
Net cash provided by operating activities 2,573 4,118
Cash flows from investing activities:
Proceeds from sale of property and equipment 1 -
Purchase of property and equipment (243) (282)
Net cash used in investing activities (242) (282)
Cash flows from financing activities:
Short-term bank credit (40) (5)
Long-term bank credit (7) (35)
Cash dividend paid (1,863) (3,216)
Proceeds from issuance of shares upon exercise of options 40 733
Net cash used in financing activities (1,870) (2,523)
Net increase in cash and cash equivalents 461 1,313
Effect of exchange rate changes on cash 28 16
Cash and cash equivalents at beginning of period 11,787 10,221
Cash and cash equivalents at end of period $ 12,276 $ 11,550
Appendix A - Non-cash transactions
Purchase of property on credit $ 5 $ 119
