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Hurco Reports First Quarter Results for Fiscal Year 2025
HURCHurco(HURC) GlobeNewswire·2025-03-07 13:00

Core Insights - Hurco Companies, Inc. reported a net loss of 4.32million,or4.32 million, or 0.67 loss per diluted share, for the first fiscal quarter ended January 31, 2025, compared to a net loss of 1.65million,or1.65 million, or 0.25 loss per diluted share, for the same period in fiscal year 2024 [1][16] Financial Performance - Sales and service fees for the first quarter of fiscal year 2025 were 46.41million,anincreaseof46.41 million, an increase of 1.36 million, or 3%, compared to the prior year period, despite an unfavorable currency impact of 434,000[2]−Grossprofitforthefirstquarterwas434,000 [2] - Gross profit for the first quarter was 8.29 million, or 18% of sales, down from 9.70million,or229.70 million, or 22% of sales, in the prior year, primarily due to lower sales volumes of higher-performance machines [10][17] - Selling, general, and administrative expenses decreased to 10.38 million, or 22% of sales, from 11.52million,or2611.52 million, or 26% of sales, reflecting lower discretionary spending and reduced sales commissions [11][17] Geographic Sales Breakdown - Sales in the Americas increased by 9% to 18.11 million, driven by higher shipments of Hurco and Milltronics machines [3][4] - European sales decreased by 5% to 21.61million,impactedbylowershipmentsofhigher−performancemachinesinFranceandItaly[4]−AsiaPacificsalesroseby1821.61 million, impacted by lower shipments of higher-performance machines in France and Italy [4] - Asia Pacific sales rose by 18% to 6.69 million, primarily due to increased shipments in China and India [5] Orders and Demand - Total orders for the first quarter were 40.09million,adecreaseof40.09 million, a decrease of 10.13 million, or 20%, compared to the prior year, with a notable decline in the Americas and Europe [6][7] - Orders in the Americas fell by 30% to 14.64million,primarilyduetodecreaseddemandforhigher−performancemachines[7][8]−AsianPacificordersincreasedby314.64 million, primarily due to decreased demand for higher-performance machines [7][8] - Asian Pacific orders increased by 3% to 6.07 million, driven by demand in China, partially offset by decreased demand in India [9] Cash Position and Working Capital - Cash and cash equivalents increased to 41.82millionfrom41.82 million from 33.33 million at the end of the previous quarter, while working capital decreased to 172.59millionfrom172.59 million from 180.79 million [13][17]