Company plans to introduce next-generation proprietary control technology at IMTS in September
Hurco says business direction has turned and intends to build on recent momentum
Overview
U.S. CNC machine tool maker's fiscal Q3 revenue rose 3% yr/yr
Company returned to profitability in fiscal Q3 after prior-year loss
Gross margin expanded to 28% from 20%, driven by cost control and improved product mix
Key details
Metric
Actual
Q3 Net Income
$2.31 mln
Q3 Gross Margin
28.00%
Q3 Capex
$1.03 mln
Q3 Gross Profit
$13.18 mln
Q3 Operating Income
$2.29 mln
Q3 Pretax Profit
$2.75 mln
Result drivers
Cost control - Co said margin expansion was primarily due to measured cost control and improved absorption of fixed overhead
Product mix - Co cited higher machine sales volumes in the U.S. and Asia Pacific and a stronger mix of 5-axis and higher-performance machine sales globally
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