This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hurco Reports Fourth Quarter And Full-Year Results

New order bookings for the fourth quarter of fiscal 2010 totaled $36,106,000, an increase of $16,066,000, or 80%, from the corresponding period in fiscal 2009. New order bookings increased in North America by $5,970,000, or 141%, in Europe by $7,776,000, or 53%, and in the Asia Pacific region by $2,320,000, or 218%. New order bookings for the full year were $115,315,000, an increase of $34,710,000, or 43%, over fiscal 2009. The full fiscal year orders increased in North America by $8,915,000, or 38%, in Europe by $14,780,000, or 28%, and in the Asia Pacific region by, $11,015,000, or 288%. The impact of currency translation on new orders booked in the fourth quarter and full fiscal year was consistent with the impact on sales.   

Hurco's gross profit for fiscal 2010 was 21%, compared to 28% for fiscal 2009. Gross profit for the fourth quarter of fiscal 2010 was 24%, compared to 29% for the prior year period. The decrease in profit as a percentage of sales reflected higher production costs per machine as machines sold during the period were produced at a time of lower production levels. Also contributing to the decrease was a product mix that included a greater amount of our entry-level machines that were in high demand in the Asia Pacific region where competitive price pressure is a strong factor.  Gross profit for the fourth quarter of fiscal 2010 was 24%, compared to 19% for the first nine months of the year due primarily to increased sales in Europe of our high performance VMX machines. In addition, our increased production levels served to reduce our allocated fixed cost per machine. 

Selling, general and administrative expenses for the fourth quarter of fiscal 2010 were $9,080,000, an increase of $953,000, 12%, from the corresponding period in 2009 due to higher sales and marketing expenses, primarily related to the International Manufacturing Technology Show in Chicago, and commissions as a result of higher sales. Selling, general and administrative expenses were $29,837,000 for fiscal 2010, a decrease of $1,037,000, or 3%, from fiscal 2009 and $16,974,000, or 36%, from fiscal 2008. These reductions reflect the benefit of cost reduction initiatives that began at the start of fiscal 2009. 

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.41%
FB $117.79 -0.66%
GOOG $696.48 -0.25%
TSLA $235.00 -2.80%
YHOO $36.16 -1.00%


Chart of I:DJI
DOW 17,721.49 -169.67 -0.95%
S&P 500 2,057.74 -23.69 -1.14%
NASDAQ 4,755.5320 -62.0620 -1.29%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs