INDIANAPOLIS, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) today reported results for the third fiscal quarter ended July 31, 2025. Hurco recorded a net loss of $3,693,000, or $0.58 per diluted share, for the third quarter of fiscal year 2025, compared to a net loss of $9,596,000, or $1.47 per diluted share, for the corresponding period in fiscal year 2024. These net losses for the third quarter of fiscal years 2025 and 2024 included non-cash tax valuation allowances of $1,639,000 ...

Core Insights - Hurco Companies, Inc. reported a net loss of $4,063,000, or $0.62 per diluted share, for the second quarter of fiscal year 2025, compared to a net loss of $3,922,000, or $0.61 per diluted share, in the same period of fiscal year 2024 [1] - Sales and service fees decreased by 10% to $40,867,000 in the second quarter of fiscal year 2025, with a total of $87,281,000 for the first six months, reflecting a 3% decline compared to the prior year [2] - The CEO emphasized the commitment to long-term strategy and cash flow management despite significant market uncertainties [3] Financial Performance - The gross profit for the second quarter was $7,829,000, or 19% of sales, compared to $8,019,000, or 18% of sales, in the prior year [11] - Selling, general, and administrative expenses for the second quarter were $10,897,000, or 27% of sales, up from 25% in the same period last year [13] - The company recorded an income tax expense of $518,000 for the second quarter, which included a valuation allowance of $1,270,000 against deferred tax assets [14] Sales and Orders - Total orders for the second quarter were $43,700,000, a decrease of 1% compared to the same period in fiscal year 2024 [7] - Sales in the Americas decreased by 9% in the second quarter, while European sales fell by 5% [4][5] - Asian Pacific orders increased by 74% in the second quarter, driven by higher demand for Hurco and Takumi machines [10] Geographic Performance - In the Americas, sales for the second quarter were $15,361,000, down from $16,947,000 in the prior year [3] - European sales totaled $21,608,000, a decrease from $22,720,000, primarily due to reduced shipments in Germany, France, and Italy [4] - Asian Pacific sales were $3,898,000, reflecting a significant decline of 29% compared to the previous year [5] Cash and Working Capital - Cash and cash equivalents increased to $43,807,000 as of April 30, 2025, compared to $33,330,000 at the end of October 2024 [15] - Working capital decreased to $175,914,000 from $180,788,000, driven by reductions in inventories and accounts receivable [15]