Hurco Q2 net income drops to $0.06 EPS from $0.30; revenue down 14%

HURCO COMPANIES INC

2023-Q2 EPS reported $0.26 revenue$108,501,000

Net income $377K ($0.06 diluted) vs $2.0M ($0.30) in Q2 2022; six-month net income $1.7M ($0.26).
Sales $53.8M, down 14% YoY; unfavorable FX impact of $1.5M (2%). Asia Pacific sales fell 42%.
Gross margin 23% of sales vs 25% prior year; SG&A 22% of sales vs 20%.
Orders $60.2M, up 2% YoY (FX-adjusted -1%); Europe orders grew 18%.
Cash $52.2M at April 30, 2023, down from $63.9M at Oct 31, 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HURCO COMPANIES INC reported second fiscal quarter ended April 30, 2023 results: revenue $53,819,000, net income $377,000, EPS $0.06 per diluted share.

Period: second fiscal quarter ended April 30, 2023
Revenue: $53,819,000
Net income: $377,000
EPS: $0.06 per diluted share
Result: reported results

Exact text from the filing

net income of $5,564,000, or $0.83 per diluted share, for the corresponding period in fiscal year 2022. Sales and service fees for the second quarter of fiscal year 2023 were $53,819,000, a decrease of $9,006,000, or 14%, compared to the corresponding prior year period, and included an unfavorable currency impact of $1,503,000, or 2%, when translating foreign sales

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Source: SEC EDGAR

accession 0001558370-23-010748

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