Cimatron, the Israeli-American CAD/CAM supplier of solutions for mold design, die design, milling and tombstone machining, reported results for the September quarter that show that it, too, is seeing an uptick in demand:
•Total revenue for the third quarter of 2010 was $8.7 million, up 21% over the $7.2 million reported a year ago. For the first nine months of 2010, revenue was $25.1 million, compared to $23.2 million in the same period of 2009.
•New license revenue was up 51% year-over-year in Q3 on a constant currency basis.
CEO Danny Haran commented in a press release about the results that “[w]e have seen solid growth in all our territories and all product lines, in what seems more and more like a sustainable market recovery. Traditionally, the third quarter is the weakest quarter of each year, due to the long summer vacations. This year presents a notable exception, with quarter-over-quarter improvement in all parameters from the second to the third quarter. The combination of continued revenue growth and tight budget control results in significant profitability improvement and strong cash flow. We are especially excited about the rapid growth in sales of new licenses, which is the best indication of market confidence and change in the business environment. Early indications suggest that this trend continues into Q4, which is traditionally the strongest quarter of each year.”