Indianapolis-based Hurco Companies, Inc. (NASDAQ: HURC) gained ground to end the week. The company reported results for the second fiscal quarter ended April 30, 2024.
Hurco recorded a net loss of $3,922,000, or $(0.61) per diluted share, for the second quarter of fiscal year 2024, compared to net income of $377,000, or $0.06 per diluted share, for the corresponding period in fiscal year 2023. For the first six months of fiscal year 2024, Hurco reported a net loss of $5,570,000, or $(0.86) per diluted share, compared to net income of $1,707,000, or
$0.26 per diluted share, for the corresponding period in fiscal year 2023.
This morning’s news release goes on to say sales and service fees for the second quarter of fiscal year 2024 were $45,172,000, a decrease of $8,647,000, or 16%, compared to the corresponding prior year period, and included a favorable currency impact of $59,000, or less than 1%, when translating foreign sales to U.S. dollars for financial reporting purposes.
Sales and service fees for the first six months of fiscal year 2024 were $90,231,000, a decrease of $18,270,000, or 17%, compared to the corresponding prior year period, and included a favorable currency impact of $838,000, or less than 1%, when translating foreign sales to U.S. dollars for financial reporting purposes.
HURC shares declined 14 cents to $17.66.
