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Hurco Fiscal 3Q Loss Narrows Slightly

INDIANAPOLIS (AP) â¿¿ Hurco Companies Inc., which designs and produces software and computerized tools for shaping metal, reported smaller third-quarter losses Friday with rising revenues offset by much higher costs.

The company posted a loss of $1.17 million, or 18 cents per share, compared with a year-earlier loss of $1.23 million, or 19 cents per share.

Revenue jumped 39 percent to $26.5 million from $19 million a year earlier. Costs rose 58 percent to $21.8 million.

Hurco said sales in the quarter were driven by demand for computerized metal cutting machines, especially in the Asia Pacific region. The region's sales were mostly driven by growth in China and the introduction of lower-priced machines in India, Hurco said.

Compared with the third quarter of fiscal 2009, shipments increased in North America by 25 percent and in Europe by 38 percent. Shipments in the Asia Pacific sales region more than doubled.
Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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