Cimatron Limited, a leading provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, today announced financial results for the fourth quarter and full year 2010, posting significant increases across the board.
Revenues for the fourth quarter 2010 increased 12.8 percent to $11.0 million, up from $9.8 million recorded for the fourth quarter of 2009. Full-year revenue for the 12 months ended December 31, 2010, grew 9.5 percent to $36.1 million compared to $33.0 million for the comparable 12 month-period of 2009.
Cimatron reported gross profit for the fourth quarter of 2010 at $9.4 million compared to $8.0 million in the same period in 2009. Gross margin in the fourth quarter of 2010 represented 85 percent of revenues, compared to a gross margin of 82 percent in the same quarter of 2009. For full year 2010, gross profit was $30.2 million, compared to $26.8 million in the same period of 2009. Gross margin in 2010 was 84 percent compared to a gross margin of 81 percent in 2009.
The company posted fourth-quarter operating profit at $1.4 million, an 82 percent increase compared to an operating profit of $0.8 million in the fourth quarter of 2009. In 2010, Cimatron recorded an operating profit of $2.1 million, compared to an operating loss of $(1.0) million in 2009.
Fourth-quarter net profit for 2010 was $1.1 million, or $0.12 per diluted share, compared to a net profit of $1.4 million, or $0.15 per diluted share recorded in the same quarter of 2009. For 2010, the company reported that net profit was $1.6 million, or $0.18 per diluted share, compared to a net profit of $14,000, or $0.00 per diluted share, in 2009.
“We are very pleased with the record fourth-quarter results and the overall strong 2010 results. As the global economic recovery continues, excellent results from key territories have made this possible. As we said many times before, and very well evidenced by the 2010 results, the vast majority of any additional revenues find their way to our bottom line. Early January sales figures suggest the continuation of that momentum into 2011, where we expect further developments, both on the product side and the sales channels,” Danny Haran, president and CEO of Cimatron stated in the press release.
For more information visit http://www.cimatron.com
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