Europe, Asia fuel Hurco profit

Profit at Hurco Cos. Inc. soared 45 percent in its first fiscal quarter on a surge in sales in Europe and Asia.

The Indianapolis-based machine tool maker reported $7.8 million in profit in the quarter ended Jan. 31.

About 10 percent of the $60.9 million in sales resulted from a weakened dollar. A cheaper dollar makes American products less expensive in comparison to products made in other countries.

Hurco not only boosted sales in existing European markets, but also pushed deeper into eastern Europe and sold more of its high-end VMX product line.

An incursion into India last year also paid off with additional sales, Hurco said.

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