Hurco Q1 EPS $0.20, revenue down 18% YoY; orders fall 25%

HURCO COMPANIES INC

2023-Q1 EPS reported $0.20 revenue$54,682,000

Net income $1.33M ($0.20 diluted EPS) vs $3.535M ($0.53) in prior year Q1.
Sales $54.68M, down 18% YoY; Americas -8%, Europe -16%, Asia Pacific -53%.
Orders $53.23M, down 25% YoY; currency headwinds provided 5% unfavorable impact.
Board declares $0.16/share cash dividend, payable Apr 10 to holders of record Mar 27.
New $25M share repurchase program authorized through Nov 2024; prior $7M program expires Mar 10.

item 2.02 item 5.07 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HURCO COMPANIES INC reported the first fiscal quarter ended January 31, 2023 results: revenue $54,682,000, net income $1,330,000, EPS $0.20 per diluted share.

Period: the first fiscal quarter ended January 31, 2023
Revenue: $54,682,000
Net income: $1,330,000
EPS: $0.20 per diluted share
Result: reported results

Exact text from the filing

net income of $3,535,000, or $0.53 per diluted share, for the corresponding period in fiscal year 2022. Sales and service fees for the first quarter of fiscal year 2023 were $54,682,000, a decrease of $12,205,000, or 18%, compared to the corresponding prior year period, and included an unfavorable currency impact of $3,189,000, or 5%, when translating foreign

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.99

HURCO COMPANIES INC shareholders approved Ratification of appointment of public accounting firm at the 2023-03-09 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2023-03-09

Exact text from the filing

For Against Abstentions Broker Non- Votes Ratification of appointment of public accounting firm: 5,649,468 79,273 4,772 -

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.99

HURCO COMPANIES INC shareholders approved Advisory vote on frequency of future say-on-pay votes at the 2023-03-09 meeting.

Proposal: say on pay frequency
Outcome: passed
Meeting: 2023-03-09

Exact text from the filing

1 Year 2 Years 3 Years Abstentions Broker Non- Votes Advisory vote on frequency of future say-on-pay votes: 4,468,123 8,845 482,600 120,338 653,607

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.99

HURCO COMPANIES INC shareholders approved Election of directors at the 2023-03-09 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-03-09

Exact text from the filing

Number of Votes FOR Number of Votes WITHHELD Broker Non- Votes Election of Directors: Thomas A. Aaro 2,939,869 2,140,037 653,607 Michael Doar 4,993,288 86,618 653,607 Cynthia Dubin 5,023,183 56,723 653,607 Timothy J. Gardner 5,020,620 59,286 653,607 Jay C. Longbottom 2,939,094 2,140,812 653,607 Richard Porter 2,919,349 2,160,557 653,607 Janaki Sivanesan 4,764,849 315,057 653,607 Gregory S. Volovic 5,020,237 59,669 653,607

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.99

HURCO COMPANIES INC shareholders approved Advisory vote to approve executive compensation at the 2023-03-09 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2023-03-09

Exact text from the filing

For Against Abstentions Broker Non- Votes Advisory vote to approve executive compensation: 4,052,666 899,775 127,465 653,607

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310 earnings releases filed in the last 30 days. Browse all earnings releases →

HURCO COMPANIES INC filing history →

Source: SEC EDGAR

accession 0001558370-23-003399

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