Zacks Investment Research has recently initiated coverage of Hurco Companies, Inc. (HURC) , assigning an "Underperform" recommendation to the company's shares. This bearish stance reflects significant concerns over the company's recent financial performance and operational challenges. In the second quarter of fiscal 2024, Hurco's sales and service fees plummeted 16.1%, significantly impacting profitability. The company reported a net loss of $3.9 million against a $0.4 million profit in the year-ago quarter ...

"While it was a difficult decision, we believe that temporarily suspending the quarterly cash dividend on Hurco's common stock will provide near-term benefits to our cash flow management while also allowing us to enhance our balance sheet and more optimally allocate available capital among various strategies. We remain dedicated to furthering our shareholders' interests, including, when appropriate, distributing a meaningful portion of available cash through dividends on our common stock during periods of p ...

Hurco Companies, Inc. (HURC) delivered a loss per share of 61 cents in the second quarter of fiscal 2024 against the year-over-year earnings per share of 6 cents. Dismal performances by all the geographic regions dampened the topline. Sales in the Americas for the second quarter of fiscal 2024 were $16.9 million, down 7.5% year over year. This decline resulted primarily due to decreased shipments of Hurco machines. The downtick in sales of Hurco machines was primarily attributable to decreased shipments of ...

Table of Contents Securities registered pursuant to Section 12(b) of the Act: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File No. 0-9143 HURCO COMPANIES, INC. (Exact name of registrant as specified in its charter) | Indiana | 35-1150732 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer Identification Number) | | incorporation or organization) | | | One Technology Way | | | Indianapolis, Indiana | 46268 | | (Address of principal ...

Exhibit 99.1 FOR IMMEDIATE RELEASE FRIDAY, JUNE 7, 2024 | | Three | Months | Ended | | Six Months | Ended | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | April 30, | | | April | 30, | | | | | 2024 2023 | $ | Change% | Change | 2024 2023 | $ | Change% | Change | | Americas | $16,947 $18,324 | | ($1,377) | (8)% | $33,597 $40,337 | | ($6,740) | (17)% | | Europe | 22,720 29,991 | | (7,271) | (24)% | 45,470 58,583 | | (13,113) | (22)% | | Asia Pacific | 5,505 | 5,504 | 1 | 0% | 11,164 9,581 | ...

The following table sets forth net sales and service fees by geographic region for the second fiscal quarter and six months ended April 30, 2024, and 2023 (dollars in thousands): Takumi machines in Germany, the United Kingdom, and Italy, as well as decreased volume of shipments of electro-mechanical components and accessories manufactured by our wholly-owned subsidiary, LCM Precision Technology S.r.l. ("LCM"), partially offset by an increased volume of shipments of Hurco machines in France. | --- | --- | -- ...

Liuhsihsiang Uncertainty has been a watchword in the manufacturing space for a while now, and the results at Hurco (NASDAQ:HURC) certainly reflect that. When I last wrote about this small manufacturer of machine tools, I was concerned about an ugly near-term outlook for manufacturing tool demand in North America and Western Europe and the likelihood that the company would “bump along the bottom” for a few more quarters. Those bumps proved to be a lot more jarring, as fiscal Q4’23 results were surprising ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File No. 0-9143 HURCO COMPANIES, INC. (Exact name of registrant as specified in its charter) | Indiana | 35-1150732 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer Identification Number) | | incorporation or organization) | | One Technology Way Indianapolis, Indiana 46268 (Address of principal executive offices) (Zip code) Registrant's telephone number, including are ...

Financial Performance - Hurco reported a net loss of $1,648,000, or $0.25 per diluted share, for Q1 FY 2024, compared to a net income of $1,330,000, or $0.20 per diluted share, in Q1 FY 2023[1]. - Sales and service fees for Q1 FY 2024 were $45,059,000, a decrease of $9,623,000, or 18%, compared to the prior year, with a favorable currency impact of $779,000, or 1%[2]. - Orders for Q1 FY 2024 totaled $50,218,000, a decrease of $3,012,000, or 6%, compared to the same period in FY 2023, including a favorable currency impact of $786,000, or 1%[7]. - Gross profit for Q1 FY 2024 was $9,695,000, or 22% of sales, down from $12,718,000, or 23% of sales, in the prior year[10]. - Selling, general, and administrative expenses for Q1 FY 2024 were $11,515,000, or 26% of sales, compared to $11,484,000, or 21% of sales, in Q1 FY 2023[11]. Working Capital and Assets - Working capital increased to $196,281,000 at January 31, 2024, from $193,257,000 at October 31, 2023[13]. - Total current assets decreased slightly to $247,083 million from $248,230 million, a decline of 0.5%[20]. - Cash and cash equivalents decreased to $37,936 million from $41,784 million, a drop of 9.0%[20]. - Total current liabilities decreased to $50,802 million from $54,973 million, a reduction of 7.9%[20]. - Total shareholders' equity increased to $224,557 million from $222,231 million, an increase of 1.0%[20]. - Retained earnings decreased to $177,444 million from $180,124 million, a decline of 1.5%[20]. - Total assets remained stable at $290,058 million compared to $290,589 million, a negligible change[20]. - Non-current assets increased to $35,250 million from $33,500 million, an increase of 5.2%[20]. - Accounts receivable decreased to $33,131 million from $39,965 million, a decline of 17.2%[20]. - Inventories increased to $165,044 million from $157,952 million, an increase of 4.4%[20]. - Accrued payroll and employee benefits decreased to $7,484 million from $9,853 million, a decline of 24.0%[20]. Regional Performance - Asian Pacific sales increased by 39% in Q1 FY 2024, primarily due to higher shipments of Hurco and Takumi machines in China, India, and Taiwan[6]. - Orders in the Americas increased by 6% in Q1 FY 2024, driven by higher demand for Hurco and Milltronics machines[7]. Taxation - The effective tax rate for Q1 FY 2024 was 27%, down from 31% in the prior year, due to changes in the geographic mix of income[12]. Capital Expenditures - Capital expenditures for Q1 FY 2024 were $832,000, compared to $599,000 in Q1 FY 2023[18].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended October 31, 2023 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _________ to _________ Commission File No. 0-9143 HURCO COMPANIES, INC. (Exact name of registrant as specified in its charter) Indiana 35-1150732 (State or other ju ...