New orders for the first quarter of fiscal 2011 totaled $44,262,000, an increase of $23,655,000, or 115%, from the corresponding period in fiscal 2010. New orders increased in North America by $7,754,000, or 134%, in Europe by $13,720,000, or 117%, and in the Asia Pacific region by $2,181,000, or 71%. The impact of currency translation on new orders was consistent with the impact on sales. New orders measured in units increased in North America by 166%, in Europe by 110%, and in the Asia Pacific sales region by 45%.Gross profit for the first quarter of fiscal 2011 was 29%, compared to 19% for the prior year period. The increase in gross profit as a percentage of sales was due to the significant increase in production and sales volume and was partially offset by the negative impact of a strengthened Taiwanese Dollar in relation to the U.S. Dollar and an increase in the cost of raw materials, particularly metals. Hurco expects that this cost impact will continue and we will adjust sales prices accordingly.
Hurco Reports First Quarter Results -- Sales Up 92%, Orders Up 115% And Earnings Of $1.5 Million
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