Hurco Q1 revenue falls on weaker Milltronics shipments

Reuters

Mar 06

Hurco Q1 revenue falls on weaker Milltronics shipments

Overview

Industrial technology firm's Q1 sales and service fees fell 8% yr/yr, with improved gross profit margin
Company reported Q1 net loss of $3.5 mln, narrowing from previous year
Orders increased 5% in Q1

Outlook

Hurco sees improved order activity in the U.S.

Result Drivers

GROSS PROFIT MARGIN - Improved due to cost reductions and favorable sales mix of higher-performance machines
ORDERS INCREASE - Driven by increased customer demand for Hurco and Takumi machines in the Americas
SALES DECLINE - Decreased shipments of specific machine models in key regions led to revenue drop

Company press release: ID:nGNXQfF60

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$3.47 mln
Q1 Gross Margin		19.00%
Q1 Capex		$610,000
Q1 Gross Profit		$7.94 mln
Q1 Operating Income		-$3.17 mln
Q1 Pretax Profit		-$3.007 mln

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact reuters.support@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}