secwatch.observer — SEC 8-K summary
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Issuer:     HURCO COMPANIES INC (HURC)
CIK:        0000315374
Form:       8-K
Filed at:   2023-01-06T23:59:59+00:00
Accession:  0001558370-23-000070
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hurco reports Q4 EPS $0.22 vs $0.31 prior year; sales down 8%; new $25M buyback
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/0001558370-23-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/315374/000155837023000070/hurc-20230104x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-000070

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