Hurco Companies (HURC) Company Overview

HURC reported a loss and a drop in revenue for the fourth quarter of fiscal 2024, facing lower profit margins and weak demand.

HURC posts a quarterly loss and revenue dip in fourth-quarter fiscal 2024, with declining margins and weak demand.

Hurco faced a challenging 2024 with weak demand among its smaller manufacturing customer base, with higher interest rates and election uncertainties, leading to reduced capital spending. Hurco's exposure to smaller manufacturers and European markets led to a significant peak-to-trough decline, but orders seem to be stabilizing ahead of end-market recoveries around mid-2025. Hurco has leverage to ongoing manufacturing reshoring, and the company's automation tools can help its smaller customers become more productive, but this is not a buy-and-hold idea.

INDIANAPOLIS, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC), announced today its vision to drive the future of Autonomous Machining Centers by harnessing the power of AI, mechatronics, motion, and simulation technologies.

INDIANAPOLIS, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) made waves at the 2024 International Manufacturing Technology Show (IMTS), unveiling cutting-edge technological advancements that mark a turning point in the company's ability to leverage emerging AI technology directly into its core control software. Business owners and operators will be excited to learn that these innovations, born from relentless R&D efforts, position Hurco as a leader in machine tool technology. Visitors to IMTS were given an exclusive preview of the revolutionary AI-driven features that will define Hurco's next-generation control systems, showcasing the company's forward momentum and continued leadership in CNC control technology.

INDIANAPOLIS, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) delivered a standout performance at the 2024 International Manufacturing Technology Show (IMTS) in Chicago, showcasing groundbreaking advancements in CNC technology and control systems. The company's expanded 16,000-square-foot booth attracted an abundance of visitors at a well-attended show, underscoring Hurco's leadership in innovation and ability to meet the evolving needs of manufacturers.

Hurco's overall topline is dampened by revenue declines in all its geographic regions.

INDIANAPOLIS, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) today reported results for the third fiscal quarter ended July 31, 2024. Hurco recorded a net loss of $9,596,000, or $(1.47) per diluted share, in the third quarter of fiscal year 2024, which included a non-cash tax valuation allowance of $8,158,000 recorded in provision for income taxes. This net loss of $9,596,000 for the third quarter of fiscal 2024 compares to net income of $260,000, or $0.04 per diluted share, for the corresponding period in fiscal year 2023. For the nine months of fiscal year 2024, Hurco reported a net loss of $15,166,000, or $(2.33) per diluted share, compared to net income of $1,967,000, or $0.30 per diluted share, for the corresponding period in fiscal year 2023. The net loss for the nine months of fiscal 2024 also included the $8,158,000 non-cash tax valuation allowance recorded in provision for income taxes.

Hurco Companies, Inc. will highlight the benefits of the company's relentless focus on control technology and product development at 2024 IMTS Booth #338319 Hurco Companies, Inc. will highlight the benefits of the company's relentless focus on control technology and product development at 2024 IMTS Booth #338319