CAD/CAM solutions developer Cimatron Technologies Inc. (Nasdaq: CIMT) yesterday published its financial report for the second quarter of 2009.
CEO Danny Haran said, "It has been another challenging quarter for Cimatron and the industry in general. The results are in line with our expectations, and reflect steady maintenance revenues alongside lower product sales. While we are receiving initial signs from some of our customers, indicating some stabilization in their businesses, these indications are not yet translating into higher software sales."
Cimatron posted $8.1 million revenue for the second quarter, down 24% from $10.7 million for the corresponding quarter of 2008. Operating loss quadruped to $317,000 for the second quarter from $73,000 for the corresponding quarter.
The company had a GAAP-based net loss of $83,000 ($0.01 per share) compared with a net profit of $205,000 for the corresponding quarter, and non-GAAP net loss was $73,000 ($0.01 per share), compared with a net profit of $740,000.
Cimatron closed at $0.95 yesterday, giving a market cap of $8.8 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2009
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