Hurco Companies, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2018
January 04, 2019 at 06:30 pm IST
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Hurco Companies, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended October 31, 2018. For the quarter, the company reported sales and service fees of $83,051,000 compared to $75,931,000 a year ago. Operating income was $11,287,000 compared to $8,985,000 a year ago. Income before taxes was $10,641,000 compared to $8,940,000 a year ago. Net income was $8,302,000 compared to $6,702,000 a year ago. Basic income per share was $1.24 compared to $1.01 a year ago. Diluted income per share was $1.22 compared to $1.00 a year ago.
For the year, the company reported sales and service fees of $300,671,000 compared to $243,667,000 a year ago. Operating income was $33,796,000 compared to $20,903,000 a year ago. Income before taxes was $32,496,000 compared to $20,716,000 a year ago. Net income was $21,490,000 compared to $15,115,000 a year ago. Basic income per share was $3.19 compared to $2.27 a year ago. Diluted income per share was $3.15 compared to $2.25 a year ago.
Hurco Companies, Inc. is an international, industrial technology company. The Company designs, manufactures, and sells computerized (such as Computer Numeric Control (CNC)) machine tools, consisting primarily of vertical machining centers (mills) and turning centers (lathes), to companies in the metal cutting industry through a worldwide sales, service, and distribution network. Its computer control systems and software products are primarily sold as integral components of its computerized machine tool products. It also provides machine tool components, automation integration equipment and solutions for job shops, software options, control upgrades, accessories, and replacement parts for its products, and customer service, training, and applications support. It has three brands of CNC machine tools in its product portfolio, including Hurco, Milltronics and Takumi. It pioneered the application of microprocessor technology and conversational programming software for use in machine tools.