Hurco Cos. and Manufacturers and Manufacturing & Technology

Manufacturing bellwether Hurco turns profitable

September 24, 2011

Hurco is one local company that will be keeping an eye on the European economy.

Europe accounted for more than 60 percent of the machine-tool maker’s sales in the first nine months of the fiscal year ended July 31, Hurco reported earlier this month.

The company has seen a huge swing in sales and profitability this year. Its third-quarter profit was $4.6 million on sales of $50.6 million, compared with a year-ago loss of $1.2 million on sales of $26.5 million.
 

OTB Hurco Hurco earned a $4.6 million profit in its fiscal third quarter, compared with a year-ago loss of $1.2 million. (IBJ File Photo)

The weak U.S. dollar had a favorable impact on sales of $3.3 million, Hurco said.

Diluted earnings per share were 70 cents, versus a per-share loss of 18 cents.

European manufacturers buy most of Hurco’s higher-end models, which boosts profitability, the company’s management explained in a quarterly filing. But Hurco has seen overall shipments resurge in North America and Asia Pacific, too.

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