Welcome to our dedicated page for Hurco Co news (Ticker: HURC), a resource for investors and traders seeking the latest updates and insights on Hurco Co stock.
Hurco Companies Inc (HURC) delivers innovative computerized machine tools and control systems for precision metal cutting across global manufacturing sectors. This dedicated news hub provides investors and industry professionals with centralized access to official announcements and strategic updates.
Track all essential developments through verified press releases covering financial results, product launches, and operational milestones. Our curated collection includes updates on Hurco's vertical machining centers, automation partnerships, and market expansion initiatives within aerospace, medical, and energy sectors.
Key content categories feature earnings disclosures, technology innovations, leadership changes, and industry recognition. Users benefit from chronological organization of materials without editorial commentary, ensuring efficient research for investment decisions and competitive analysis.
Bookmark this page for direct access to Hurco's latest corporate communications and manufacturing technology advancements. Check regularly for real-time updates on the company's progress in enhancing metalworking efficiency through intelligent control systems.
Hurco Companies announced the suspension of its regular quarterly cash dividend on its common stock, effective immediately. The decision aims to enhance financial flexibility, improve balance sheet strength, and reinvest in core business and R&D.
Previously, the company paid two quarterly cash dividends of $0.16 per share in 2024. The Board will continuously monitor market conditions and the company's cash flow to evaluate potential future cash dividends, but there is no assurance of resumption.
Hurco continues to focus on shareholder interests through possible share repurchase programs, particularly when the stock is undervalued.
Hurco posted a net loss of $3.9M ($0.61 per diluted share) for Q2 FY 2024, a significant decline from the $377K net income ($0.06 per diluted share) in the same period last year. For the first six months, the net loss was $5.6M ($0.86 per diluted share), down from a net income of $1.7M ($0.26 per diluted share) in the prior year.
Sales decreased by 16% to $45.2M in Q2 and by 17% to $90.2M in the first six months, compared to the same periods last year. Notably, European sales took a 24% hit in Q2.
Orders dropped 27% to $44.2M in Q2 and 17% to $94.4M in the first six months. Gross profit also fell, reaching $8M (18% of sales) from $12.6M (23% of sales) in Q2. The CEO highlighted ongoing investment in R&D and plans to showcase new technology at the IMTS in Chicago.
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