Hurco Companies reports Q3 EPS ($1.47) vs 4c last year

Reports Q3 revenue $42.651M vs $53.201M last year. Greg Volovic, Chief Executive Officer, stated, “While sales declined this quarter orders were positive. Global orders for this quarter exceeded $52,000,000 and improved both year-over-year and compared to the previous two fiscal quarters. Orders this quarter also outpaced sales by more than $10,000,000. We are hopeful that this positive order growth is representative of a trend and are prepared to meet new order growth. The global cost reductions we implemented this quarter will continue to impact results going forward. We remain focused on advancing the future of Hurco with many technological innovations. In September, IMTS attendees will have the unique opportunity to engage with the latest concept designs of Hurco’s next-generation control and Milltronics’ new INSPIRE+ control and software. We will also showcase all of our CNC machines with ProCobots collaborative robotic systems. Hurco’s advanced control software is now integrated with industrial robot automation from Kawasaki Robotics and Hurco Automation, powered by ProCobots, eliminating the need for complex robot programming. We believe that our strong balance sheet and focus on future technological advancement differentiates Hurco from our competitors, helping us navigate cyclical periods and emerge stronger. We look forward to an exciting exhibition at IMTS and market improvement for machine tools as we close out fiscal 2024.”