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Hurco Q3 Profit Down On Higher Expenses

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Hurco Companies, Inc. (HURC: Quote), a computerized machine tools manufacturer, Friday reported a decline in profit for the third quarter, weighed down by higher expenses.

For the third quarter, the Indiana-based company's net profit decreased to $3.95 million or 61 cents per share from $4.57 million or 70 cents per share in the same year-ago quarter. Selling, general and administrative expenses in the quarter rose to $10.27 million from $9.31 million prior year.

For the quarter, sales and service fees declined slightly to $49.95 million from $50.57 million in the comparable period last year, reflecting a weaker Euro and depressed demand in both Europe and Asia, said Hurco.

Thursday, Hurco closed at $21.80 on the Nasdaq.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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After recovering from an initial move to the downside, stocks have shown a lack of direction over the course of the trading day on Tuesday. The choppy trading comes on the heels of the notable pullback seen in the previous session. With lawmakers failing to address corporate tax reform before adjourning for the campaign season, the Treasury Department announced Monday that it is taking targeted action to reduce the tax benefits of corporate tax inversions. Eurozone business activity in September expanded at the slowest pace seen so far this year, adding pressure on the European Central Bank to provide more measures to stimulate the region. The composite output index of the purchasing managers' survey fell to a nine-month low of 52.3 in September from 52.5 in August, preliminary data from Markit Economics showed Tuesday.
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