Cimatron announced results last week while I was at the Altair user conference. I’ve had a chance to listen to the earnings call replay, and have a bit more to add to last week’s quick post:

CEO Danny Haran said on the call that “Q1 of 2012 practically shines when compared to Q1/2011, with strong 17% growth in new license revenues on a constant-currency basis, and impressive 69% period-over-period growth in non-GAAP operating profit. In fact, this is our best-ever first quarter of any year in terms of non-GAAP operating and net profit, at $1.1 million and $1.0 million respectively.”

CFO Ilan Erez gave a few more financial details:

  • Total revenue in Q1 was $9.9 million, up 11%.
  • License revenue was $4.4 million, up 19% as reported and up 17% in constant currencies.
  • Maintenance revenue was $4.7 million, up 7% as reported.
  • By geography, revenue from Europe was $4.9 million, up 8%; from North America, $3.3 million, down 14%; from Asia, $1.4 million, up 17%. The company didn’t specifically address the slowdown in North America in Q1, but Mr. Haran did say that he sees improvement in the second half of 2012: “The automotive market is going strong.” He also said that the company had a very strong Q4 and that “hence, Q1 always looks weaker than Q4”

Mr. Haran was, in general, “satisfied” with Q1. However, he cautioned investors that “visibility is still low, and uncertainties remain, especially in Europe. Cimatron will continue to manage its operations and business as planned, taking advantage of the opportunities presented by the market, while paying close attention to possible threats that may materialize … But so far, from what we see in Q2, we think we’re okay.”