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Cimatron Reports its Highest-Ever Revenues and Operating Profit in Q4/10

Israel February 8, 2011

     Financial highlights      - 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  

Danny Haran

The following provides details on Cimatron’s GAAP and non-GAAP results for the fourth quarter and full year 2010:

March 2011

GAAP:

$11.0 million $9.8 million December 31, 2010 $36.1 million $33.0 million

$9.4 million $8.0 million $30.2 million $26.8 million

$1.4 million $0.8 million $2.1 million $(1.0) million

$1.1 million $0.12 $1.4 million $0.15 $1.6 million $0.18 $14 thousand $0.00

Non-GAAP:

$11.0 million $9.8 million December 31, 2010 $36.1 million $33.0 million

$9.5 million $8.2 million $30.8 million $27.4 million

$1.7 million $1.0 million $3.1 million $31 thousand

$1.6 million $0.17 $1.0 million $0.10

$2.9 million $0.32 $46 thousand $0.01

Conference Call

February 8th, 2011 9:00 EST Israel

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: +1-888-407-2553                            International: +972-3-9180610                                 Israel: 03-9180610  

http://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 and deferred income tax, as well as certain business combination 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, especially as our two most recent acquisitions have resulted in amortization and non-cash items that have had a material impact on our GAAP results. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.

About Cimatron

With over 28 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM 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 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.

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.

                                      CIMATRON LIMITED                             CONSOLIDATED STATEMENTS OF INCOME                    (US Dollars in thousands, except for per share data)                             Three months ended          Twelve months ended                            ------------------          -------------------                                December 31,                December 31,                            2010           2009         2010            2009                          -------       -------       -------        --------     Total revenue        11,013         9,762        36,074          32,957      Total cost of     revenue               1,634         1,719         5,876           6,186                          -------       -------       -------        --------     Gross profit          9,379         8,043        30,198          26,771      Research and     development     expenses, net         1,692          1,347        6,014           5,736      Selling, general     and administrative     expenses              6,282          5,923       22,053          21,992                          -------       -------       -------        --------     Operating income     (loss)                1,405            773        2,131            (957)      Financial income,     net                      43             38           97              19      Taxes on income        (401)           639         (657)            949      Other                     1            (41)          (6)            (41)                          -------       -------       -------        --------      Net income (loss)     1,048          1,409        1,565             (30)      Less: Net (income)     loss attributable     to the     noncontrolling     interest                 45            (18)          26              44                          -------       -------       -------        --------     Net income     attributable to     Cimatron's     shareholders        $ 1,093        $ 1,391      $ 1,591            $ 14                         ========       ========     ========        ========     Net income per     share - basic and     diluted              $ 0.12         $ 0.15       $ 0.18          $ 0.00                         ========       ========     ========        ========     Weighted average     number of shares     outstanding      Basic EPS     (in thousands)        8,959          9,128        9,000           9,156                         ========       ========     ========        ========     Diluted EPS     (in thousands)        8,983          9,128        9,000           9,156                         ========       ========     ========        ========                                        CIMATRON LIMITED                       RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION                      (US Dollars in thousands, except for per share data)                                        Three months ended                                           December 31,                                2010                      2009                       GAAP      Adj.   NON-GAAP     GAAP     Adj.  NON-GAAP      Total revenue      11,013    -       11,013     9,762      -     9,762      Total cost of     revenue (1)        1,634   (147)      1,487     1,719   (147)    1,572                       ------   -----      ------    ------   -----   -----      Gross profit       9,379    147       9,526     8,043    147     8,190      Research and     development     expenses, net      1,692      -       1,692     1,347      -     1,347      Selling, general     and administrative     expenses (1)       6,282    (99)      6,183     5,923   (100)    5,823                        ------   -----      ------    ------   -----   -----     Operating income     (loss)             1,405    246       1,651       773    247     1,020      Financial income,     net                   43      -          43        38      -        38      Taxes on     income (2)          (401)   221        (180)      639   (726)      (87)      Other (3)              1      -           1       (41)    43         2                        ------   -----      ------    ------   -----   -----      Net income (loss)  1,048    467       1,515     1,409   (436)      973      Less: Net (income)     loss attributable     to the     noncontrolling     interest              45      -          45       (18)     -       (18)                        ------   -----      ------    ------   -----   -----      Net income     attributable to     Cimatron's     shareholders     $ 1,093  $ 467     $ 1,560   $ 1,391 $ (436)    $ 955                      =======  ======    ========   ======= =======   ======     Net income     per share -     basic and     diluted           $ 0.12             $ 0.17    $ 0.15           $ 0.10                      =======            ========   =======          ======     Weighted     average     number of     shares     outstanding      Basic EPS     (in thousands)     8,959              8,959     9,128            9,128                      =======             ========   =======          ======     Diluted EPS     (in thousands)     8,983              8,983     9,128            9,128                      =======             ========   =======          ======      (1) Non-GAAP adjustment to exclude non-cash amortization     of acquired intangible assets.     (2) Non-GAAP adjustment to exclude the effect of deferred taxes.     (3) Non-GAAP adjustment to exclude loss from discontinued operations.        (table continued)                                        CIMATRON LIMITED                       RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION                      (US Dollars in thousands, except for per share data)                                       Twelve months ended                                         December 31,                                2010                           2009                       GAAP      Adj.   NON-GAAP     GAAP     Adj.  NON-GAAP      Total revenue     36,074        -      36,074    32,957      -   32,957      Total cost of     revenue (1)        5,876     (588)      5,288     6,186   (588)   5,598                      -------     -----      ------   -------  -----   -----      Gross profit      30,198      588      30,786    26,771    588   27,359      Research and     development     expenses, net      6,014        -       6,014     5,736      -    5,736      Selling, general     and administrative     expenses (1)      22,053     (396)     21,657    21,992   (400)  21,592                       -------     -----      ------   -------  -----   -----     Operating income     (loss)             2,131      984       3,115      (957)   988       31      Financial income,     net                   97        -          97        19      -       19      Taxes on     income (2)          (657)     347        (310)      949   (999)     (50)      Other (3)             (6)       -          (6)      (41)    43        2                       -------     -----      ------   -------  -----   -----      Net income (loss)  1,565    1,331       2,896       (30)    32        2      Less: Net (income)     loss attributable     to the     noncontrolling     interest              26        -          26        44      -        44                       -------     -----      ------   -------  -----   -----     Net income     attributable to     Cimatron's     shareholders     $ 1,591  $ 1,331     $ 2,922      $ 14    $ 32     $ 46                      =======   ======     ========    ======    =====   =====     Net income     per share -     basic and     diluted           $ 0.18               $ 0.32    $ 0.00           $ 0.01                      =======   ======     ========    ======    =====   =====     Weighted     average     number of     shares     outstanding      Basic EPS     (in thousands)      9,000               9,000     9,156            9,156                       =======              ======    ======            =====     Diluted EPS     (in thousands)      9,000               9,000     9,156            9,156                       =======              ======    ======            =====     (1) Non-GAAP adjustment to exclude non-cash amortization     of acquired intangible assets.     (2) Non-GAAP adjustment to exclude the effect of deferred taxes.     (3) Non-GAAP adjustment to exclude loss from discontinued operations.                                      CIMATRON LIMITED                              CONSOLIDATED BALANCE SHEETS                               (US Dollars in thousands)                                          December 31,          December 31,                                         ------------          ------------                                                2010                  2009                                          ============          ==========                                                          ASSETS     CURRENT ASSETS:           Total cash, cash equivalents           and short-term investments         $ 10,221             $ 6,684           Trade receivables                     5,708               5,422           Other current assets                  2,275               3,308                                               -------              -------                  Total current assets          18,204              15,414                                               -------              -------                  Deposits with insurance                  companies and severance                  pay fund                       3,279               2,935                                               -------              -------                  Net property and equipment       949               1,046                                               -------              -------                  Total other assets            12,469              13,285                                               -------              -------                          Total assets        $ 34,901            $ 32,680                                              ========            =========                                          LIABILITIES AND SHAREHOLDERS' EQUITY     CURRENT LIABILITIES:           Short-term bank credit                 $ 99               $ 456           Trade payables                        1,685               1,064           Accrued expenses and           other liabilities                     8,260               6,991           Deferred revenues                     2,275               2,397                                                 -------           -------                  Total current liabilities     12,319              10,908                                                 -------           -------      LONG-TERM LIABILITIES:           Accrued severance pay                 4,297               4,104           Long-term loan                           98                 204           Deferred tax liability                1,002               1,365                                                 -------           -------           Total long-term liabilities           5,397               5,673                                                 -------           -------           Total shareholders' equity           17,185              16,099                                                 -------           -------           Total liabilities and           shareholders' equity               $ 34,901            $ 32,680                                              ========            ========                                          CIMATRON LIMITED                           STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY                                     (US Dollars in thousands)                                                            Accumulated                                            Additional   other                   Noncontrolling   Share    paid-in     comprehensive                      Interest     capital   capital     income (loss)     Balance at     December 31,     2009             $ (48)       $ 304    $ 18,204       $ 75                     =======       ======   ========       =====     Changes     during the     twelve months     ended     Deptember 31,     2010:     Net income     (loss)             (26)     Exercise of     share options                     -          11     Unrealized     loss on     derivative     instruments                                            (79)     Other                                                  207     Stock option     compensation                                 60     Investment in     treasury     stock     Foreign     currency     translation     adjustment                                            (468)                     -------   --------    ---------     ----------     Total     comprehensive     income     Balance at     December 31,     2010             $ (74)       $ 304    $ 18,275     $ (265)       (table continued)                                          CIMATRON LIMITED                           STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY                                     (US Dollars in thousands)                            Retained                      Earnings                                 Total                      (accumulated  Treasury   Comprehensive   shareholders'                      deficit)      stock      income (loss)   equity     Balance at     December 31,     2009               $ (1,894)   $ (542)                      $ 16,099                        ==========   =======                     =========     Changes     during the     twelve months     ended     Deptember 31,     2010:     Net income     (loss)                1,591                    1,565           1,565     Exercise of     share options                                                     11     Unrealized     loss on     derivative     instruments                                      (79)            (79)     Other                                            207             207     Stock option     compensation                                                      60     Investment in     treasury     stock                            (210)                          (210)     Foreign     currency     translation     adjustment                                      (468)           (468)                       --------     -------       ---------         -------     Total                                          1,225                                                  =========     comprehensive     income     Balance at     December 31,     2010                 $ (303)   $ (752)                      $ 17,185                                                  CIMATRON LIMITED                                            STATEMENTS OF CASH FLOWS                                            (US Dollars in thousands)                                                        Twelve months                                                       ended                                                       December 31,                                                       -------------                                                      2010        2009      Cash flows from operating activities:      Net income (loss)                                  $ 1,565       $ (30)      Adjustments to reconcile net income (loss)     to net cash provided by operating activities:     Depreciation and amortization                        1,512       1,575     Increase in accrued severance pay                      228         138     Gain from sale of property and equipment, net            8           -     Stock option compensation                               60          73     Loss on disposal of businesses -     discontinued operations                                  -          43     Deferred taxes, net                                    406        (984)      Changes in assets and liabilities:     Decrease (increase) in accounts     receivable and prepaid expenses                       (583)      1,854     Decrease (increase) in inventory                        13         (15)     Increase in deposits with insurance     companies and severance pay fund                      (344)       (216)     Increase (decrease) in trade payables, accrued     expenses and other liabilities                       1,908      (1,164)                                                          ------      ------     Net cash provided by operating activities            4,773       1,274                                                          ------      ------     Cash flows from investing activities:     Purchase of property and equipment                    (384)       (262)     Cash and cash equivalents disposed of     discontinued operations                                  -         (46)                                                          ------      ------     Net cash used in investing activities                 (384)       (308)                                                          ------      ------     Cash flows from financing activities:     Short-term bank credit                                (340)        301     Long-term bank credit                                  (98)       (104)     Proceeds from issuance of shares upon     exercise of options                                     11           -     Investment in treasury stock                          (210)       (153)                                                           -----       -----     Net cash used in (provide by) financing activities    (637)         44                                                           -----       -----     Net increase in cash and cash equivalents            3,752       1,010     Effect of exchange rate changes on cash               (215)        (53)     Cash and cash equivalents at beginning of period     6,684       5,727                                                          ------      ------     Cash and cash equivalents at end of period        $ 10,221     $ 6,684                                                       =========    ========     Appendix A - Non-cash transactions                  Purchase of property on credit           $ 68        $ 10                                                       =========    =========        Contact:      Ilan Erez, Chief Financial Officer     Cimatron Ltd.     Tel.; +972-73-237-0114     E-mail: [email protected]   

SOURCE Cimatron Ltd

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