INDIANAPOLIS, March 6, 2013 (GLOBE NEWSWIRE) -- Hurco Companies, Inc., (Nasdaq:HURC) today reported for its first fiscal quarter ended January 31, 2013, net income of $2,254,000, or $0.34 per diluted share, a decrease of $2,379,000, or 51%, when compared to net income of $4,633,000, or $0.71 per diluted share, for the first quarter of fiscal 2012. The decrease in net income was primarily due to a 14% reduction in reported sales, resulting from a shift in the timing of shipments between quarters, particularly in Europe. However, orders during the first quarter of fiscal 2013 were 5% higher than in the corresponding period of fiscal 2012.
Sales and service fees for the first quarter of fiscal 2013 totaled $44,085,000, a decrease of $7,041,000 from the first quarter of fiscal 2012. The impact of foreign currency when translating sales to U.S. Dollars for financial reporting purposes was not material on the period-to-period comparison.
The following table sets forth net sales and service fees, and orders by geographic region for the first quarters of fiscal 2013 and 2012 (in thousands):
|Net Sales and Service Fees||Orders|
|Three Months Ended||Three Months Ended|
|January 31,||January 31,|
|North America||$16,252||$15,326||$ 926||6%||$14,613||$14,383||$ 230||2%|
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