Hurco reports Q2 net loss of $3.9M; sales down 16% YoY as market softens

HURCO COMPANIES INC

2024-Q2 EPS reported -$0.86 revenue$90,231,000

Net loss $0.61 per diluted share vs net income $0.06 in Q2 last year; six-month loss $0.86.
Sales $45.2M, down 16% YoY; orders $44.2M, down 27% YoY.
Gross profit margin fell to 18% from 23% due to lower volume and price cuts to reduce inventories.
European sales dropped 24%, Americas -8%, Asia Pacific flat; six-month Europe -22%, Americas -17%.
Cash & equivalents $37.5M; working capital $187.6M; management emphasizes cost controls and R&D investment.

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