Hurco Companies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended July 31, 2023
September 08, 2023 at 08:00 am EDT
Share
Hurco Companies, Inc. reported earnings results for the third quarter and nine months ended July 31, 2023. For the third quarter, the company reported sales was USD 53.2 million compared to USD 57.64 million a year ago. Net income was USD 0.26 million compared to USD 1.24 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to USD 0.18 a year ago.
For the nine months, sales was USD 161.7 million compared to USD 187.35 million a year ago. Net income was USD 1.97 million compared to USD 6.8 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 1.02 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to USD 1.01 a year ago.
Hurco Companies, Inc. is an international, industrial technology company. The Company designs, manufactures, and sells computerized (such as Computer Numeric Control (CNC)) machine tools, consisting primarily of vertical machining centers (mills) and turning centers (lathes), to companies in the metal cutting industry through a worldwide sales, service, and distribution network. Its computer control systems and software products are primarily sold as integral components of its computerized machine tool products. It also provides machine tool components, automation integration equipment and solutions for job shops, software options, control upgrades, accessories, and replacement parts for its products, and customer service, training, and applications support. It has three brands of CNC machine tools in its product portfolio, including Hurco, Milltronics and Takumi. It pioneered the application of microprocessor technology and conversational programming software for use in machine tools.