Boston, MA 08/14/2014 (wallstreetpr) – Cimatron Ltd. (NASDAQ:CIMT) posted record figures in its second-quarter results. It also announced the dividend distribution policy along with the results. The non-GAAP operating profit rose 24% to $2.0 million year-over-year. Non-GAAP net profit climbed 28% to $1.5 million year-over-year.
The revenues came at record level of $11.8 million. It was a jump of 4.4% on the basis of constant currency. Cimatron reported the 17th consecutive quarter of revenue growth measured in terms of constant currency. The cash flow came at $7.6 million from operating activities in the first half of the year. The quarter ended with the balance of $20.4 million.
The dividend
Along with the release of the quarterly results, Cimatron Ltd. (NASDAQ:CIMT) announced that the Board of Directors has approved a policy for distributing dividends. As per the new policy, Cimatron will distribute a dividend of minimum 50% of the annual distributable profits. It will be made from the previous year.
The Board of Directors possesses the rights to make any changes in the rate of distribution, to cancel the distribution, to cancel the policy as whole or to add up additional distributions. The expectations are that Cimatron Ltd. (NASDAQ:CIMT) can distribute the first dividend in the first quarter of 2015. It will be calculated on its 2014 annual distributable profits.
The Management View
President and CEO, Danny Haran said that the company is delighted with the best-second quarter ever. Cimatron posted record revenues, cash flow and profit in its second-quarter results. The strong results generated from the performance of both the product lines in all the major geographical territories. The results reflect the sound operating leverage in Cimatron’s business model.
Further, he added that Cimatron Ltd. (NASDAQ:CIMT) has high expectations from the CimatronE version 12 released in July 2014. It is a way through which company is venturing into the 3D printing software market. As of now, Cimatron has received positive Initial feedback from the industry.
