Hurco Hits Record Quarterly Profit

Posted: Updated:
(Image courtesy of Hurco) (Image courtesy of Hurco)
INDIANAPOLIS -

Indianapolis-based Hurco Companies Inc. (Nasdaq: HURC) is reporting record fiscal third quarter net income of $6.5 million, up from $3.9 million during the same period last year. Chief Executive Officer Michael Doar says the CNC manufacturer also hit record sales in all three of its geographic regions.

Doar says the European and Asian machine tool markets continue to be strong and have been the largest contributing factors to the company's year-over-year surge in demand. Sales and service fees for the quarter totaled $78.8 million, up nearly $18 million from the same quarter in 2017.

Hurco says it will celebrate its 50th anniversary at the 2018 International Manufacturing Technology Show in Chicago later this month. You can view the full fiscal third quarter earnings report by clicking here.

  • Perspectives

    • Want Your Startup to Move Faster? Use Two Military Strategies

      Speed is everything at a startup. So is discipline. By that, I mean the discipline to stay focused on the most important objectives, to do the late nights and early mornings when we don’t want to do them, and to see the results of our work as objectively as possible. It’s not easy, especially when speed and discipline often seem at odds. We think about this a lot here at Powderkeg. How do we move as fast as possible while remaining as disciplined as possible? We recently...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Infosys to Break Ground at Airport Site

      State and local officials will Friday break ground on a new U.S. Education Center for India-based Infosys. The company is initially investing $35 million to transform more than 70 acres of the former Indianapolis International Airport terminal site into a training center and 250-person residential facility totaling 125,000 square feet.

    • Infosys Hub to 'Reskill' Workforce

      India-based Infosys, which today broke ground on a $35 million U.S. Education Center in Indianapolis, says the campus is focused on preparing the American workforce for the technology jobs of the future. "Continuous learning and reskilling are core components of Infosys' DNA," said Chief Operating Officer UB Pravin, adding the company will use the facility on the former Indianapolis International Airport terminal site to train 10,000 new American hires.

    • Renovations Coming to Edinburgh Premium Outlets

      Renovations are coming to Edinburgh Premium Outlets as plans have been announced by Indianapolis-based Simon Property Group Inc. (NYSE: SPG). Construction is set to begin this fall. The multi-million dollar plans include an archway sign, two new courts visible from I-65 on the east side of the property and a food truck plaza on the southwest corner.

    • 'Proven Leaders' to Head New Two-Year College

      Marian University has named Jeffrey Jourdan executive director of Saint Joseph's College of Marian University - Indianapolis, its new two-year institution. Michael Nichols will serve as associate director and dean of SJC@MU. In October, Marian and Saint Joseph's College in Rensselaer detailed a partnership to launch the school near Marian's Indianapolis campus. St. Joe suspended operations in 2017 after massive debt responsibilities forced the school into an attempted rebirth.

    • Governor Eric Holcomb in April nominated 156 Indiana communities and neighborhoods to be Opportunity Zones. (image courtesy WTHR-TV)

      Portal to Promote 'Opportunity Zone' Investment

      The Opportunity Investment Consortium of Indiana has launched an online portal in hopes of attracting investors for the state's Opportunity Zone neighborhoods. The Opportunity Zone initiative, part of the federal Tax Cuts and Jobs Act, aims to spark private capital investment in low-income urban and rural communities. Governor Eric Holcomb in April nominated 156 Indiana communities and neighborhoods to be Opportunity Zones. You can see the full list by clicking here. The state a...