Hurco reports Q1 net income $3.5M / $0.53 EPS vs $0.10 prior year; sales up 24%

HURCO COMPANIES INC

2022-Q1 EPS reported $0.53 revenue$66,887,000

Net income $3.5M ($0.53 diluted EPS) vs $663K ($0.10) prior year; gross margin improved to 25% from 21%.
Sales $66.9M, up 24% YoY; European sales +41%, Asia Pacific +32%, Americas +3%.
Orders $70.9M, up 24% YoY; Europe orders +58% driven by higher-performance machines.
Cash $90.0M, working capital $210.5M; stock repurchase program commenced in quarter.
CEO cited sixth consecutive quarter orders > sales; continued focus on growth and acquisitions.

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