--- schema_version: "secwatch.filing_event.v1" accession: "0001558370-23-000070" form_type: "8-K" ticker: "HURC" cik: "0000315374" company_name: "HURCO COMPANIES INC" filed_at: "2023-01-06T23:59:59+00:00" generated_at: "2026-06-20T19:04:00.424744+00:00" event_type: "earnings" sentiment: "neutral" materiality_score: 0.65 calibrated_materiality_score: 0.65 confidence: "high" source: SEC EDGAR --- # Hurco reports Q4 EPS $0.22 vs $0.31 prior year; sales down 8%; new $25M buyback ## Summary - Q4 net income $1.4M ($0.22 diluted EPS) vs $2.1M ($0.31); sales $63.5M, down 8% YoY (FX -9%). - FY2022 net income $8.2M ($1.23 diluted EPS) vs $6.8M ($1.01); sales $250.8M, up 7% (FX -6%). - Orders in Q4 fell 23% to $58.3M; FY orders down 9% to $240.9M; weak Asia Pacific due to China lockdowns. - Board approved new $25M share repurchase program through Nov 2024; existing program has $4.1M remaining. - Credit agreement amended to increase permitted annual repurchases from $10M to $25M; SOFR adjustment cut to 10 bps. ## SEC filing metadata - accession: 0001558370-23-000070 - form_type: 8-K - ticker: HURC - cik: 0000315374 - company_name: HURCO COMPANIES INC - filed_at: 2023-01-06T23:59:59+00:00 - event_type: earnings - sentiment: neutral - materiality_score: 0.65 - calibrated_materiality_score: 0.65 - confidence: high - sec_items: 1.01, 2.02, 2.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/0001558370-23-000070-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/hurc-20230104x8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001558370-23-000070 - JSON: https://secwatch.observer/filing/0001558370-23-000070.json - Plain text: https://secwatch.observer/filing/0001558370-23-000070.txt ## Key facts - Debt Financings HURCO COMPANIES INC amended credit facility with Bank of America, N.A. at reduce the secured overnight financing rate adjustment to 10 basis points for al. - Instrument: credit facility - Counterparty: Bank of America, N.A. - Rate: reduce the secured overnight financing rate adjustment to 10 basis points for al - Event: amendment source text: Effective as of January 4, 2023, Hurco Companies, Inc. (the “Company”), Bank of America, N.A. (the “Lender”), and certain wholly-owned subsidiaries of the Company (the “Loan Party Subsidiaries” and, together with the Company, the “Loan Parties”) entered into a Fourth Amendment to Credit Agreement (the “Fourth Amendment”). The Fourth Amendment amends the Credit Agreement, dated as of December 31, 2018, among the Company, the Lender, and the Loan Party Subsidiaries, as amended by that First Amendment dated as of March 13, 2020, that Second Amendment dated as of December 23, 2020 and that Third Amendment dated as of December 17, 2021 (as so amended, the “Credit Agreement”), to (i) increase the amount of permitted stock repurchases in any fiscal year from $10.0 million to $25.0 million and (ii) reduce the secured overnight financing rate adjustment to 10 basis points for all borrowings. evidence_url: https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/0001558370-23-000070-index.htm - Earnings Releases HURCO COMPANIES INC reported Fourth fiscal quarter ended October 31, 2022 results: net income $1,424,000, EPS $0.22. - Period: Fourth fiscal quarter ended October 31, 2022 - Net income: $1,424,000 - EPS: $0.22 - Result: reported results source text: Hurco recorded net income of $1,424,000, or $0.22 per diluted share, for the fourth quarter of fiscal 2022, compared to net income of $2,096,000, or $0.31 per diluted share, for the corresponding period in fiscal 2021. evidence_url: https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/0001558370-23-000070-index.htm - Earnings Releases HURCO COMPANIES INC reported Fiscal year ended October 31, 2022 results: net income $8,226,000, EPS $1.23. - Period: Fiscal year ended October 31, 2022 - Net income: $8,226,000 - EPS: $1.23 - Result: reported results source text: For fiscal year 2022, Hurco reported net income of $8,226,000, or $1.23 per diluted share, compared to net income of $6,764,000, or $1.01 per diluted share, for fiscal year 2021. evidence_url: https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/0001558370-23-000070-index.htm - Material Agreements HURCO COMPANIES INC amended Fourth Amendment to Credit Agreement with Bank of America, N.A. valued at Increased permitted stock repurchases from $10.0 million to $25.0 million and reduced secured overni (effective 2023-01-04). - Action: amendment - Agreement: credit facility - Counterparty: Bank of America, N.A. - Value: Increased permitted stock repurchases from $10.0 million to $25.0 million and reduced secured overni - Effective: 2023-01-04 source text: Effective as of January 4, 2023, Hurco Companies, Inc. (the “Company”), Bank of America, N.A. (the “Lender”), and certain wholly-owned subsidiaries of the Company (the “Loan Party Subsidiaries” and, together with the Company, the “Loan Parties”) entered into a Fourth Amendment to Credit Agreement (the “Fourth Amendment”). The Fourth Amendment amends the Credit Agreement, dated as of December 31, 2018, among the Company, the Lender, and the Loan Party Subsidiaries, as amended by that First Amendment dated as of March 13, 2020, that Second Amendment dated as of December 23, 2020 and that Third Amendment dated as of December 17, 2021 (as so amended, the “Credit Agreement”), to (i) increase the amount of permitted stock repurchases in any fiscal year from $10.0 million to $25.0 million and (ii) reduce the secured overnight financing rate adjustment to 10 basis points for all borrowings. evidence_url: https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/0001558370-23-000070-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.