Indianapolis-based Hurco Companies Inc., a computer control and software maker, said Thursday that James D. Fabris will
resign as president and chief operating officer as of Oct. 31.
Hurco said in a release that Fabris is leaving to
pursue other interests.
The company said CEO Michael Doar will handle Fabris’ responsibilities for the "foreseeable
Fabris has been Hurco’s president and COO since November 2001. He previously served as the company’s executive
vice president of operations from 1997 to 2001 and was vice president from 1995 to 1997.
In August, Hurco reported its
second straight quarterly loss after sales dropped a staggering 64 percent.
Hurco lost $1.2 million, or 19 cents
a share, in its fiscal third quarter ended July 31. The company had a profit of $5.8 million, or 90 cents a share, during
the same quarter last year.
Quarterly revenue fell to $19 million, down from $57.3 million a year ago—a decrease
of $38.2 million.
Shares of Hurco fell 90 cents, or 5 percent, to $16.18 on Thursday.