Hurco Q3 Profit Down On Higher Expenses

Hurco Q1 Profit Falls

Trade HURC now with

9/7/2012 9:14 AM ET

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.

Click here to receive FREE breaking news email alerts for Hurco Cos Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

More Breaking News

<<Previous 80 Articles

Editors Pick

Analog Devices Profit Meets Estimate; Outlook Weak

Analog Devices, Inc. said that its second quarter profit rose slightly from last year, helped mainly by lower income tax expenses even as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations. However, the company forecast third quarter revenue and earnings below analysts' current consensus estimates.

Stocks Close Modestly Higher Ahead Of Bernanke Testimony - U.S. Commentary

While buying interest was relatively subdued, stocks moved modestly higher over the course of the trading day on Tuesday. The strength on the day offset the weakness seen in the previous session, with the Dow and the S&P 500 reaching new record closing highs. The major averages gave back some ground in late-day trading but remained in positive territory.

Obama's Approval Rating Holding Steady Despite Scandals

While a recent series of scandals have caused headaches for the White House, the results of a Washington Post-ABC News poll released Tuesday suggest that the news has not had an impact on President Barack Obama's approval rating. The poll showed that 51 percent of Americans approve of the way Obama is handling his job as president compared to 44 percent that disapprove.