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CIMATRON LIMITED | ||||||||||||||||||||||||||||
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RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION | ||||||||||||||||||||||||||||
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(US Dollars in thousands, except for per share data) | ||||||||||||||||||||||||||||
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Three months ended |
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Six months ended | ||||||||||||||||||||
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June 30, |
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June 30, | ||||||||||||||||||||
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2014 |
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2013 |
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2014 |
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2013 |
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GAAP |
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Adj. |
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NON-GAAP |
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GAAP |
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Adj. |
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NON-GAAP |
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GAAP |
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Adj. |
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NON-GAAP |
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GAAP |
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Adj. |
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NON-GAAP |
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Total revenue |
11,754 |
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- |
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11,754 |
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11,039 |
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- |
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11,039 |
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22,717 |
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- |
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22,717 |
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21,197 |
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- |
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21,197 | |||||
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Total cost of revenue (1) |
1,450 |
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(147) |
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1,303 |
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1,391 |
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(147) |
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1,244 |
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2,953 |
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(294) |
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2,659 |
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2,717 |
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(294) |
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2,423 | |||||
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Gross profit |
10,304 |
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147 |
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10,451 |
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9,648 |
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147 |
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9,795 |
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19,764 |
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294 |
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20,058 |
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18,480 |
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294 |
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18,774 | |||||
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Research and development expenses (2) |
1,871 |
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(12) |
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1,859 |
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1,758 |
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- |
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1,758 |
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3,786 |
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(24) |
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3,762 |
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3,486 |
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- |
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3,486 | |||||
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Selling, general and administrative expenses |
6,761 |
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6,614 |
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6,477 |
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6,445 |
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13,235 |
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12,951 |
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12,803 |
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12,718 | |||||
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Non-cash amortization of acquired intangible assets |
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- |
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(32) |
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- |
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(85) |
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Stock-based compensation |
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(147) |
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- |
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(284) |
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- |
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Operating income |
1,672 |
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306 |
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1,978 |
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1,413 |
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179 |
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1,592 |
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2,743 |
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602 |
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3,345 |
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2,191 |
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379 |
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2,570 | |||||
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Financial income (expenses), net |
35 |
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- |
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35 |
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(40) |
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- |
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(40) |
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(4) |
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- |
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(4) |
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(24) |
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- |
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(24) | |||||
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Taxes on income (3) |
(409) |
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(85) |
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(494) |
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(377) |
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- |
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(377) |
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(759) |
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(168) |
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(927) |
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(569) |
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(91) |
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(660) | |||||
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Other |
(5) |
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- |
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(5) |
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3 |
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- |
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3 |
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(26) |
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- |
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(26) |
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5 |
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- |
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5 | |||||
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Net income |
1,293 |
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221 |
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1,514 |
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999 |
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179 |
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1,178 |
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1,954 |
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434 |
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2,388 |
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1,603 |
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288 |
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1,891 | |||||
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Less: Net (income) loss attributable to the noncontrolling interest |
- |
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- |
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- |
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3 |
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- |
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3 |
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(10) |
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- |
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(10) |
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3 |
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- |
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3 | |||||
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Net income attributable to Cimatron's shareholders |
$ 1,293 |
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$ 221 |
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$ 1,514 |
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$ 1,002 |
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$ 179 |
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$ 1,181 |
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$ 1,944 |
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$ 434 |
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$ 2,378 |
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$ 1,606 |
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$ 288 |
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$ 1,894 | |||||
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Net income per share - basic and diluted |
$ 0.12 |
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$ 0.14 |
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$ 0.11 |
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$ 0.13 |
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$ 0.18 |
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$ 0.22 |
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$ 0.17 |
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$ 0.20 | |||||
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Weighted average number of shares outstanding |
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Basic EPS (in thousands) |
10,751 |
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10,751 |
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9,362 |
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9,362 |
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10,741 |
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10,741 |
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9,355 |
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9,355 | ||||
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Diluted EPS (in thousands) |
10,761 |
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10,761 |
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9,362 |
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9,362 |
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10,744 |
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10,744 |
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9,360 |
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9,360 | ||||
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(1) Non-GAAP adjustment to exclude non-cash amortization of acquired intangible assets |
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(2) Non-GAAP adjustment to exclude stock-based compensation |
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(3) Non-GAAP adjustment to exclude the effect of deferred taxes and other non-current tax provisions. |
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