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Hurco Reports Fourth Quarter And Full-Year Results

Stocks in this article: HURC

The following table sets forth new orders booked by geographic region for the fourth quarter and fiscal year ending October 31, 2012 and 2011 (in thousands), respectively:

Orders by Geographic Region            
   Quarter Ended October 31,  Fiscal Year Ended October 31,        
  2012 2011 % Change 2012 2011 % Change
North America  $ 20,398  $ 13,365 53%  $ 61,644  $ 50,058 23%
Europe  27,745  22,614 23%  115,222  121,274 -5%
Asia Pacific  3,674  4,324 -15%  21,271  25,651 -17%
Total  $ 51,817  $ 40,303 29%  $198,137  $ 196,983 1%

During the fourth quarter of 2012, orders increased in North America and Europe due to favorable market conditions. We experienced increased orders in North America, following our successful showing at the International Manufacturing Technology Show (IMTS) in Chicago where we launched our rebranding initiative and new line of high speed machines. We experienced a decline in order activity in Asia where industrial activity has been slowing. Compared to the fourth quarter of fiscal 2011, unit orders for the fourth quarter of fiscal 2012 increased in North America by 54% and in Europe by 22%, but decreased in Asia Pacific by 9%. During the full fiscal year 2012, orders remained relatively consistent with the prior fiscal year. Unit orders for the fiscal year 2012 compared to fiscal 2011 increased in North America by 22%, but decreased in Europe by 9% and in Asia Pacific by 22%. The impact of currency translation on orders booked in the fourth quarter and full fiscal year was consistent with the impact on sales.  

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