Tuesday, Feb 21, 2006 4:00 AM
Givat Shmuel, Israel, – February 21, 2006– Cimatron Limited (NASDAQ: CIMT), a leading provider of integrated, quoting-to-delivery CAD/CAM solutions for the tooling industry, today announced financial results for the fourth quarter and full year ended December 31, 2005.
Revenues for the fourth quarter of 2005 were $5.42 million, compared to $6.40 million in the fourth quarter of 2004. Net loss for the fourth quarter of 2005 was $(1.72) million, or $(0.22) per fully diluted share, compared to a net loss of $(249) thousand, or $(0.03) per fully diluted share in the fourth quarter of 2004.
Revenues for the year ended December 31, 2005 were $20.92 million, compared to $23.16 million in 2004. Net loss in 2005 was $(4.59) million, or $(0.59) per fully diluted share, compared to a net loss of $(388) thousand, or $(0.05) per fully diluted share in 2004.
Danny Haran, President and Chief Executive Officer of Cimatron, said: "As we previously announced, during the fourth quarter of 2005 we completed the re-organization plan we began in the second half of the year. All costs relating to this reorganization were expensed in 2005, mostly in the fourth quarter. This plan included cost reductions on the one hand, but also additional investment in sales and marketing on the other hand. The reorganization did not have any effect on our R&D plans nor on our worldwide customer support and services."
"The Cimatron Quoting to Delivery strategy was well accepted in North America, resulting in positive revenues momentum - over 30% revenues growth in two years in North America. We also saw positive revenues momentum in the Asia Pacific region. We believe that this momentum, together with the August 2005 release of CimatronE version 7.0 featuring significant new solutions such as the NC Lite shop-floor solution, the first commercially available Micro Milling NC application, and advanced 5-axis milling, will help us to show better results in 2006 and beyond."
Cimatron is the leading provider of integrated, quoting-to-delivery CAD/CAM solutions for the tooling industry. Cimatron is committed to providing mold, tool and die makers with comprehensive, cost-effective solutions that streamline manufacturing cycles, enable collaboration with outside vendors, and ultimately shorten product delivery time. Worldwide, more than 8,500 customers, with installations in the automotive, consumer plastics, and electronics industries, employ Cimatron's cutting-edge CAD/CAM solutions for manufacturing.
Founded in 1982, Cimatron is publicly traded on the NASDAQ exchange under the symbol CIMT. Cimatron's subsidiaries and extensive distributor network are located in over 35 countries to serve customers worldwide with complete pre- and post-sales support.