Hurco Cos. and Manufacturers and Manufacturing & Technology

Hurco reports increase in quarterly, annual profit

January 11, 2013

Increased demand for its products in North America and Europe helped Indianapolis-based Hurco Companies Inc. post higher sales and profit in its fiscal fourth quarter.

Hurco, a maker of computer-controlled machining tools, earned $4.1 million during the three months ended Oct. 31, up 54 percent from the same time in 2011.

Earnings per share in the most recent quarter were 63 cents, compared with 41 cents in the year-ago period.

Revenue increased 15 percent, to $56.1 million.

Sales in North America and Europe accounted for 92 percent of Hurco’s fourth quarter revenue. New orders booked in the quarter rose by 53 percent in North America and by 23 percent in Europe, but fell 15 percent in Asia where industrial activity has been slowing, Hurco said.

For all of fiscal 2012, Hurco earned $15.6 million, or $2.40 per share, compared with $11.1 million, or $1.71 per share, in fiscal 2011.

Full-year revenue increased 13 percent, to $203.1 million.

Hurco stock rose nearly 4 percent in early trading Friday, to $25 per share.
 

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