Hurco capped a record year with rising sales and earnings in the fourth quarter.
The Indianapolis-based company, which makes CNC machines for the metal cutting industry, has reported a profit of $6.7 million, or $1 per share, in the quarter ended October 2017. That was up from $3 million, or 45 cents per share, in the same quarter of 2016.
Revenue rose 14 per cent, to $75.9 million in the latest quarter, up from $66.4 million in the year-ago period. Total profit for fiscal 2017 came in at $15.1 million, or $2.25 per share, compared with $13.3 million, or $1.99 per share, in fiscal 2016. Revenue for the fiscal year was $243.7 million, up 7 per cent from the previous year.
“There isn’t a better way to begin Hurco’s 50th anniversary celebration in 2018 than to finish 2017 with record orders and record sales,” Hurco CEO Michael Doar said in a written statement.
“All of our brands (Hurco, Takumi and Milltronics) and all geographic regions finished the year with higher orders and sales levels than last year.”
Sales and profit at Hurco were lifted by robust demand for its products in Europe, especially Germany, France and the United Kingdom. European sales were up 34 per cent in the fourth quarter and 8 per cent for the fiscal year.
The increase helped offset a 14 per cent decline in sales in the Americas region for the quarter. For the year, sales were up 2 per cent in the Americas. Overall orders were a record $73.7 million in the fourth quarter and record $260.7 million in the fiscal year.
Established in 1968 by Edward Humston and Gerald Roch, Hurco Companies, Inc. is an industrial technology company that designs and produces interactive computer controls, software and computerised machine tool systems for the worldwide metal cutting and metal forming industry. The end markets for the company’s products consist primarily of independent job shops and short-run manufacturing operations within large corporations in industries such as the aerospace, defence, medical equipment, energy, transportation and computer equipment.
The company is headquartered in Indianapolis, Indiana, USA. The South African office was opened in 2006.
Hurco designs and manufactures a broad line of CNC machining and turning centers to meet a variety of applications and a range of customer budgets. With a focus on relevant technology that yields measurable benefits for its customers, Hurco is known for developing controls that are easy to learn, easy to use, and flexible. The flexible control lets customers determine the best way to approach each job – G-code, Hurco’s shop floor programming called conversational programming, or direct to the control using the DXF Transfer feature.
For further details contact Hurco South Africa on TEL: 849 5600 or visit www.HURCO.co.za