Hurco Hits Record Quarterly Profit

(Image courtesy of Hurco)

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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.