Hurco profit inches higher on stronger European sales
The Indianapolis-based maker of equipment for cutting and forming metal beat the weakened economy in Europe, but saw a sales drop in the recessionary Asia Pacific market.
The Indianapolis-based maker of equipment for cutting and forming metal beat the weakened economy in Europe, but saw a sales drop in the recessionary Asia Pacific market.
Gregory S. Volovic has been at the machine-tool manufacturer since 2005 and most recently served as executive vice president of technology, operations and North American sales and service.
Machine-tool manufacturer Hurco Cos. Inc. saw earnings drop 51 percent in its latest fiscal quarter on falling revenue, the Indianapolis-based company announced Wednesday.
Indianapolis-based Hurco Cos. Inc.designs and produces interactive computer controls for the metal cutting and metal forming industry.
The company, which develops computer-controlled equipment for cutting and forming metal, made progress in fiscal 2012 toward restoring profitability to pre-recession levels.
The Indianapolis-based maker of computer-controlled machining tools attributed much of the increase to higher demand for its products in North America and Europe.
Indianapolis-based manufacturer Hurco Cos. Inc. on Friday reported a 26-percent rise in profit in the second quarter on growing revenue.
Hurco Companies Inc. said its fiscal first-quarter profit soared 200 percent over the same period a year ago, driven by strong sales increases in Europe.
Strong sales in North America and Europe helped the Indianapolis-based machine-tool maker.
The company’s third-quarter profit was $4.6 million on sales of $50.6 million, compared with a year-ago loss of $1.2 million on sales of $26.5 million.
Computerized machine tool maker Hurco Cos. Inc. on Friday announced its third consecutive quarterly profit, helped in part by its best sales performance ever in Asia.
Factories are adding jobs, but returning to pre-recession levels will be a long slog.
The Indianapolis-based machine tool maker reported profit of $1.5 million on revenue of $39.7 million in its fiscal first quarter.
Indianapolis-based Hurco Cos. designs and produces interactive computer controls, software and computerized machine systems for the worldwide metal-cutting and metal-forming industry.
Indianapolis-based machine tool maker lost $1.1 million in the fourth quarter and $5.7 million in fiscal 2010.
The Indianapolis-based maker of computerized metal-cutting tools piled up record profits in fiscal years 2005 through 2008, but now is trying to leave behind a second year of losses.
The Indianapolis-based machine tool maker said the increase in sales primarily was driven by increased demand for computerized metal cutting machines, particularly in the Asia Pacific region.
Indianapolis-based machine tool maker lost $1.5 million in its second fiscal quarter, which was much greater than the loss
it reported in the same period last year.
The Indianapolis-based manufacturer’s quarterly revenue fell to $20.6 million, a 27-percent drop from the same period the
year before.
Indianapolis-based machine toolmaker’s CEO takes 63-percent compensation cut.