0001178913-14-002644.txt : 20140813 0001178913-14-002644.hdr.sgml : 20140813 20140813060523 ACCESSION NUMBER: 0001178913-14-002644 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20140813 FILED AS OF DATE: 20140813 DATE AS OF CHANGE: 20140813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CIMATRON LTD CENTRAL INDEX KEY: 0001008595 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27974 FILM NUMBER: 141035655 BUSINESS ADDRESS: STREET 1: 11 GUSH ETZION ST STREET 2: GIVAT SHMUEL CITY: ISRAEL 51905 STATE: L3 ZIP: 00000 BUSINESS PHONE: 9725312121 6-K 1 zk1415397.htm 6-K zk1415397.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
 
For the month of August 2014
 
Commission File Number 000-27974

CIMATRON LIMITED
(Translation of Registrant’s name into English)

11 Gush Etzion Street, Givat Shmuel 54030, Israel
(Address of Principal Executive Office)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F x Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 
 
 
 
On August 13, 2014, Cimatron Ltd. (the "Registrant") issued a press release (the "Press Release") announcing and attaching its unaudited financial results for the quarter and six months ended June 30, 2014.  The Press Release is attached hereto as Exhibit 99.1. 
 
The unaudited financial results of the Registrant for the quarter and six months ended June 30, 2014 (as attached to the Press Release, and excluding any related quotes from members of the Registrant's management), are hereby incorporated by reference in the Registrant's registration statements on Form F-3, File Numbers 333-161781 and 333-189764, filed with the Securities and Exchange Commission on September 8, 2009 and July 2, 2013, respectively, and in the Registrant’s Registration Statements on Form S-8, File Numbers Nos. 333-12458, 333-140809 and 333-190468, respectively.

 
 
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
CIMATRON LIMITED
  
       
  By:
/s/ Ilan Erez
  
   
Ilan Erez
  
   
Chief Financial Officer
  
 
Dated: August 13, 2014
 
 
 
 
 
EXHIBIT INDEX

The following exhibit is furnished as part of this Form 6-K:

Exhibit
No.
Description
   
99.1
Press release announcing results of operations of Cimatron Limited for the quarter and six months ended June 30, 2014.


 
 EX-99.1 2 exhibit_99-1.htm EXHIBIT 99.1 exhibit_99-1.htm
Exhibit 99.1
 

Cimatron Reports Record Second Quarter in all Major
Parameters in Q2/2014 and Announces
Dividend Distribution Policy
 
Givat Shmuel, Israel, – August 13th, 2014 – Cimatron Limited (NASDAQ: CIMT), a leading provider of integrated CAD/CAM software solutions for the toolmaking and manufacturing industries, today announced its financial results for the second quarter and first six months of 2014.
 
Highlights of Cimatron’s results for these periods include the following:
 
 
·
24% year-over-year increase in non-GAAP operating profit for Q2, to a second quarter record of $2.0 million;
 
·
28% year-over-year increase in non-GAAP net profit for Q2, to a second quarter record of $1.5 million;
 
·
Record Q2 revenues of $11.8 million, a 6.5% year-over-year increase (4.4% on a constant currency basis);
 
·
17th consecutive quarter with year-over-year revenue growth on a constant currency basis;
 
·
Record $7.6 million cash flow from operating activities in the first six months of 2014 leads to end of June net cash balance of $20.4 million or $1.90 per share
 
Concurrently with the release of its financial results, Cimatron also announced today that its Board of Directors has adopted a policy for distributing dividends, subject to all applicable laws. According to this policy, each year the Company will distribute a dividend of at least 50% of its annual distributable profits from the previous year. As part of the stated policy, the Company's Board of Directors reserves the right to declare additional dividend distributions, to change the rate of dividend distributions (either as a policy or on a one-time basis), to cancel a specific distribution or to cancel the policy as a whole at any time, at its sole discretion. The Company expects to declare the first distribution under the new policy during the first quarter of 2015, based on its 2014 annual distributable profits. The actual distribution of a dividend will be subject to meeting the conditions required by applicable laws, including the distribution tests set forth in Section 302 of the Israeli Companies Law, 5759-1999, and to the specific decision of the Company's Board of Directors for each distribution.
 
Commenting on the news, Danny Haran, President and Chief Executive Officer of Cimatron, noted, “We are very pleased to report our best second quarter ever, with record revenues, profit and cash flow. We saw strong results from both our product lines and across all major geographical territories. Over 50% of the year-over-year quarterly revenue growth reached the non-GAAP operating profit line, demonstrating once again the strong operating leverage in our business model.
 
 
 
 
 
 
“As planned, CimatronE version 12 was officially released during July 2014. We have high expectations for this latest version, as it incorporates numerous key enhancements, as well as our first entry into the 3D Printing software market. Initial feedback from the field is very encouraging.
 
“Our strong performance has built our cash balance to its current level of just over $20 million, an amount that is more than sufficient to fund our strategy for growth, including potential M&A opportunities. As such, we are happy to share our success more directly with our shareholders through the newly announced policy of significant annual dividend distributions. We are confident that our success in the years to come, coupled with the dividends that we plan to distribute, will create greater value for our shareholders while encouraging long-term interest and investment in our Company,” concluded Mr. Haran.
 
The following provides details on Cimatron’s GAAP and non-GAAP results for the second quarter and first six months of 2014:
 
GAAP:
 
Revenues for the second quarter of 2014 increased by 6.5% to $11.8 million, from $11.0 million recorded in the second quarter of 2013. For the first six months of 2014, revenues were $22.7 million, compared to $21.2 million in the same period of 2013.
 
Gross Profit for the second quarter of 2014 was $10.3 million, as compared to $9.6 million in the same period in 2013. Gross margin in the second quarter of 2014 constituted 88% of revenues, compared to 87% in the second quarter of 2013. For the first six months of 2014, gross profit was $19.8 million, compared to $18.5 million in the same period of 2013. Gross margin for the six months ended June 30, 2014 was 87% of revenues, the same as in the first six months of 2013.
 
Operating Profit in the second quarter of 2014 increased to $1.7 million, from $1.4 million in the corresponding quarter of 2013.  In the first six months of 2014, operating profit increased to $2.7 million, compared to an operating profit of $2.2 million in the first six months of 2013.
 
Net Profit for the second quarter of 2014 increased to $1.3 million, or $0.12 per diluted share, compared to a net profit of $1.0 million, or $0.11 per diluted share, recorded in the same quarter of 2013. In the first six months of 2014, net profit increased to $1.9 million, or $0.18 per diluted share, compared to a net profit of $1.6 million, or $0.17 per diluted share, in the first six months of 2013.
 
 
 
 
 
 
Non-GAAP:
 
Revenues for the second quarter of 2014 increased by 6.5% to $11.8 million, from $11.0 million recorded in the second quarter of 2013. For the first six months of 2014, revenues were $22.7 million, compared to $21.2 million in the same period of 2013.
 
Gross Profit for the second quarter of 2014 was $10.5 million, as compared to $9.8 million in the same period of 2013. Gross margin in the second quarter of 2014 constituted 89% of revenues, the same as in the second quarter of 2013. In the first six months of 2014, gross profit was $20.1 million, compared to $18.8 million in the first six months of 2013. Gross margin for the six months ended June 30, 2014 was 88% of revenues, compared to a gross margin of 89% of revenues for the first six months of 2013.
 
Operating Profit in the second quarter of 2014 increased by 24% to $2.0 million, from $1.6 million in the corresponding quarter of 2013. In the first six months of 2014, operating profit increased by 30% to $3.3 million, compared to an operating profit of $2.6 million in the first six months of 2013.
 
Net Profit for the second quarter of 2014 increased by 28% to $1.5 million, or $0.14 per diluted share, compared to net profit of $1.2 million, or $0.13 per diluted share, recorded in the same quarter of 2013. In the first six months of 2014, net profit increased by 26% to $2.4 million, or $0.22 per diluted share, compared to a net profit of $1.9 million, or $0.20 per diluted share, in the first six months of 2013.
 
Conference Call
 
Cimatron's management will host a conference call today, August 13, 2014, at 9:00 EDT, 16:00 Israel time. On the call, management will review and discuss the results, and will answer questions by investors.
 
To participate, please call one of the following teleconferencing numbers. Please begin placing your call at least 5 minutes before the conference call commences.

USA: +1-866-860-9642
International: +972-3-9180664
Israel: 03-9180664
 
For those unable to listen to the live call, a replay of the call will be available beginning on the day after the call at the investor relations section of Cimatron's website, at: www.cimatron.com
 
 
 
 
 
 
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, stock based compensation 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. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.
 
About Cimatron
 
With over 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 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.
 
Company Contact:
Investor Relations contact
Ilan Erez, Chief Financial Officer
Ehud Helft/Kenny Green
Cimatron Ltd.
GK Investor Relations
Tel.; 972-73-237-0114
Tel: (US) 1 646 201 9246
Email: ilane@cimatron.com
Email: Cimatron@gkir.com
 
 
 
 
 
CIMATRON LIMITED
CONSOLIDATED STATEMENTS OF INCOME
(US Dollars in thousands, except for per share data)
 
   
Three months ended
    
Six months ended
  
   
June 30,
    
June 30,
  
   
2014
    
2013
    
2014
    
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  
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  
 
 
 
 
 
 
 
CIMATRON LIMITED
RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION
(US Dollars in thousands, except for per share data)
 
   
Three months ended
    
Six months ended
  
 
June 30,
    
June 30,
  
      2014       2013       2014       2013  
   
GAAP
    
Adj.
    
NON-GAAP
    
GAAP
    
Adj.
    
NON-GAAP
    
GAAP
    
Adj.
    
NON-GAAP
    
GAAP
    
Adj.
    
NON-GAAP
  
                                                                         
Total revenue
     11,754       -       11,754       11,039       -       11,039       22,717       -       22,717       21,197       -       21,197  
                                                                                                 
Total cost of revenue (1)
     1,450       (147 )     1,303       1,391       (147 )     1,244       2,953       (294 )     2,659       2,717       (294 )     2,423  
                                                                                                 
Gross profit
     10,304       147       10,451       9,648       147       9,795       19,764       294       20,058       18,480       294       18,774  
                                                                                                 
   Research and development expenses (2)
     1,871       (12 )     1,859       1,758       -       1,758       3,786       (24 )     3,762       3,486       -       3,486  
                                                                                                 
   Selling, general and administrative expenses
     6,761               6,614       6,477               6,445       13,235               12,951       12,803               12,718  
   Non-cash amortization of acquired intangible assets
       -                       (32 )                     -                       (85 )        
Stock-based compensation
             (147 )                     -                       (284 )                     -          
Operating income
     1,672       306       1,978       1,413       179       1,592       2,743       602       3,345       2,191       379       2,570  
                                                                                                 
   Financial income (expenses), net
     35       -       35       (40 )     -       (40 )     (4 )     -       (4 )     (24 )     -       (24 )
                                                                                                 
   Taxes on income (3)
     (409 )     (85 )     (494 )     (377 )     -       (377 )     (759 )     (168 )     (927 )     (569 )     (91 )     (660 )
                                                                                                 
   Other
     (5 )     -       (5 )     3       -       3       (26 )     -       (26 )     5       -       5  
                                                                                                 
Net income
     1,293       221       1,514       999       179       1,178       1,954       434       2,388       1,603       288       1,891  
                                                                                                 
Less: Net (income) loss attributable to the noncontrolling interest
     -       -       -       3       -       3       (10 )     -       (10 )     3       -       3  
                                                                                                     
Net income attributable to Cimatron's shareholders
   $ 1,293     $ 221     $ 1,514     $ 1,002     $ 179     $ 1,181     $ 1,944     $ 434     $ 2,378     $ 1,606     $ 288     $ 1,894  
Net income per share - basic and diluted
   $ 0.12             $ 0.14     $ 0.11             $ 0.13     $ 0.18             $ 0.22     $ 0.17             $ 0.20  
                                                                                                 
Weighted average number of shares outstanding
                                                                                                
                                                                                                 
Basic EPS (in thousands)
     10,751               10,751       9,362               9,362       10,741               10,741       9,355               9,355  
                                                                                                 
Diluted EPS (in thousands)
     10,761               10,761       9,362               9,362       10,744               10,744       9,360               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.
 
 
 
 
 
 
CIMATRON LIMITED
CONSOLIDATED BALANCE SHEETS
(US Dollars in thousands)
 
   
June 30,
    
December 31,
  
   
2014
    
2013
  
             
ASSETS
            
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  
                 
LIABILITIES AND SHAREHOLDERS’ EQUITY
                
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  
 
 
 
 
 
 
CIMATRON LIMITED
STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(US Dollars in thousands)
 
   
Noncontrolling
Interest
    
Share
capital
    
Additional
paid-in capital
    
Accumulated
other
comprehensive
 income
    
Retained
earnings
    
Treasury stock
    
Comprehensive
income
    
Total
shareholders’
equity
  
Balance at December 31, 2013
   $ 33     $ 350     $ 17,172     $ 88     $ 4,823     $ (752 )         $ 21,714  
Changes during the six
months ended June 30, 2014:
                                                          
Net income
     10                               1,944               1,954       1,954  
Issuance of Restricted Shares
             1                                               1  
Stock based compensation
                     308                                       308  
Other
     (43 )                     (148 )                     (191 )     (191 )
Foreign currency translation adjustment
                             56                       56       56  
Total comprehensive income
                                                     1,819          
Balance at June 30, 2014
   $ -     $ 351     $ 17,480     $ (4 )   $ 6,767     $ (752 )           $ 23,842  
 
 
 
 
 
 
CIMATRON LIMITED
STATEMENTS OF CASH FLOWS
(US Dollars in thousands)
 
   
Six months ended
  
   
June 30,
  
   
2014
    
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 distribution 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  
 
 
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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
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
XML 14 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
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
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RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
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.

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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 Jun. 30, 2014
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
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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
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
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STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)
In Thousands, unless otherwise specified
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]
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)  
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