Hurco reports profitable quarter on higher revenue

Hurco Cos. on Friday reported a surge of sales in its Americas market that helped the Indianapolis-based manufacturer turn in a profitable quarter.

The company, which makes computerized machine tools for the metal-cutting industry, reported profit of $3.6 million, or 55 cents per share, in the fiscal second quarter ended April 30. That was just slightly less than the profit of $3.7 million, or 56 cents per share, that the company achieved in the same quarter of the previous fiscal year.

Overall revenue rose 12 percent, from $52 million in the year-ago period to $58.2 million in the latest quarter.

Sales in the Americas region rose 21 percent in the quarter on a year-over-year basis, from $14.9 million to $18 million.

Sales in the Europe region dipped 1 percent, to $31.6 million, and rose 69 percent in the Asia Pacific market, to $8 million.

Hurco said the overall rise in sales was “primarily attributable to an increased sales volume of vertical milling machines from all product lines.”

Orders made in the second quarter were $63.4, an increase of 19 percent—a figure that bodes well for future quarters.

Hurco shares were up 1.9 percent Friday morning, to $30.30 each.

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