Record revenues in China and South Korea and strong growth in North America lead to revenues of $36.1M and non-GAAP operating profit of $3.1M in full year 2010.
Givat Shmuel, Israel – Cimatron Limited (NASDAQ: CIMT) , a provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, today announced financial results for the fourth quarter and full year 2010.
* 2010 new licenses revenue up 30% year-over-year on a constant currency basis
* $1.6M non-GAAP net profit in Q4/10, an increase of 63% year-over-year
* $4.8 million positive cash flow from operating activities in 2010, a 275% year-over-year increase
* $10.2M cash balance at end of 2010
* 32 Cent non-GAAP EPS in 2010
Commenting on the results, Danny Haran, President and Chief Executive Officer of Cimatron, said “We are very pleased with the record fourth quarter results and the overall strong 2010 results. As the global economic recovery continues, excellent results from key territories have made this possible. As we said many times before, and very well evidenced by the 2010 results, the vast majority of any additional revenues find their way to our bottom line. Early January sales figures suggest the continuation of that momentum into 2011, where we expect further developments, both on the product side and the sales channels”, concluded Mr. Haran.
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