HURCO COMPANIES INC (HURC): auditor change — Hurco Q3 EPS $0.04 vs $0.18 YoY; dismisses RSM, hires Deloitte as auditor

HURCO COMPANIES INC

2023-Q3 EPS reported $0.30 revenue$161,702,000

Net income $260,000 ($0.04 diluted EPS) vs $1.238M ($0.18) in Q3 2022; sales $53.2M down 8%.
Orders fell 20% to $42.1M; Americas orders down 33%, Asia Pacific down 43%.
Auditor change: RSM US LLP dismissed; Deloitte & Touche LLP engaged for FY2024 effective after FY2023 audit.
No disagreements or reportable events with RSM during 2021–2022 or subsequent interim period.
Cash and equivalents $41.0M at July 31, 2023, down from $63.9M at Oct 31, 2022.

item 2.02 item 4.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

HURCO COMPANIES INC dismissed RSM US LLP as its auditor.

Action: dismissal
Auditor: RSM US LLP
Successor: Deloitte & Touche LLP

Exact text from the filing

the Audit Committee approved a change of the Company’s independent registered public accounting firms for its 2024 fiscal year and, on September 5, 2023, notified RSM US LLP (“RSM”), the Company’s current independent registered public accounting firm, of its dismissal as the Company’s independent registered public accounting firm

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HURCO COMPANIES INC reported third fiscal quarter and nine months ended July 31, 2023 results: revenue $53,201,000, net income $260,000, EPS $0.04 per diluted share.

Period: third fiscal quarter and nine months ended July 31, 2023
Revenue: $53,201,000
Net income: $260,000
EPS: $0.04 per diluted share
Result: reported results

Exact text from the filing

net income of $6,802,000, or $1.01 per diluted share, for the corresponding period in fiscal year 2022. Sales and service fees for the third quarter of fiscal year 2023 were $53,201,000, a decrease of $4,439,000, or 8%, compared to the corresponding prior year period, and included a favorable currency impact of $579,000, or 1%, when translating foreign sales to

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56 auditor changes filed in the last 30 days. Browse all auditor changes →

HURCO COMPANIES INC filing history →

Source: SEC EDGAR

accession 0001558370-23-015579

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