Hurco Companies reports Q1 EPS 20c vs 53c last year

Reports Q1 revenue $54.682M vs $66.887M last year. Greg Volovic, Chief Executive Officer, stated, "Right now the global machine tool market is experiencing some oscillation in demand that seems unpredictable. Volatility in the macroeconomic environment is not unfamiliar territory to us, and we plan to continue our strategy to innovate and invest in new and advanced technologies. We still believe our historical practice of maintaining a strong balance sheet and cash flows will allow us to be opportunistic and prepared for the upside of these market cycles when they come. We also plan to stay the course on a balanced capital allocation strategy that prioritizes liquidity while recognizing the importance of targeting accretive growth and returning shareholder value."