Hurco sees drop in sales, profit in latest quarter

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Hurco Cos. saw a big drop in profit and revenue in its fiscal fourth quarter, the Indianapolis-based industrial technology company announced Friday morning.

The company earned $1.9 million, or 29 cents per share, for the period ended Oct. 31 after making $4.1 million, or 63 cents per share, in the same quarter a year earlier.

Sales and service fees totaled $53.9 million, a 4.1-percent drop from $56.1 million a year ago.

Revenue decreased across all regions during the quarter.

Sales dropped 4 percent in Europe, the company’s biggest market, to $32.3 million. North America sales fell 6 percent, to $16.7 million, and Asia Pacific sales declined 6 percent, to $4.9 million.

"The European and Asian markets were challenging in fiscal 2013,” Hurco CEO Michael Doar said in a prepared statement. “Since we typically sell the majority of our high-performance machines in Europe, we are particularly sensitive to conditions in that region, which have been weak.”

Hurco designs and produces computer controls, software, and computerized machine tools and machine-tool components for the metal-cutting and metal-forming industry.

Hurco shares rose 6 percent in early trading Friday, to $24.01 each.
 

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In