Hurco Companies Files 2024 10-K

TL;DR

Hurco's 2024 10-K is in. Financials look stable, check the details on capital and adjustments.

AI Summary

Hurco Companies Inc. filed its 10-K for the fiscal year ending October 31, 2024. The company, headquartered in Indianapolis, Indiana, operates in the industrial instruments sector. The filing details financial information including common stock, additional paid-in capital, and various accumulated adjustments as of October 31, 2024, and prior fiscal years.

Why It Matters

This 10-K filing provides a comprehensive overview of Hurco Companies' financial performance and position for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific risk factors or negative financial indicators.

Key Numbers

• 14511000 — P3Y (Likely represents a financial metric for the current fiscal year.)
• 45000 — P2Y (Likely represents a financial metric for the prior fiscal year.)
• 45000 — P2Y (Likely represents a financial metric for the prior fiscal year.)

Key Players & Entities

• HURCO COMPANIES INC (company) — Filer of the 10-K
• INDIANAPOLIS (location) — City of company headquarters
• 2024-10-31 (date) — Fiscal year end
• 2025-01-10 (date) — Filing date

FAQ

Key Financial Figures

• $186.6 m — r 2024, our sales and service fees were $186.6 million, a decrease of $41.2 million, or
• $41.2 m — fees were $186.6 million, a decrease of $41.2 million, or 18%, compared to fiscal year
• $1.8 m — included a favorable currency impact of $1.8 million, or less than 1%, when translatin
• $16.6 m — al year 2024, we reported a net loss of $16.6 million, or $(2.56) per diluted share, co
• $4.4 m — iluted share, compared to net income of $4.4 million, or $0.66 per diluted share, for
• $0.66 — pared to net income of $4.4 million, or $0.66 per diluted share, for fiscal year 2023
• $8.6 million — d a non-cash tax valuation allowance of $8.6 million recorded in provision for income taxes.

Filing Documents

• hurc-20241031x10k.htm (10-K) — 2851KB
• hurc-20241031xex4d1.htm (EX-4.1) — 36KB
• hurc-20241031xex21d1.htm (EX-21.1) — 18KB
• hurc-20241031xex23d1.htm (EX-23.1) — 5KB
• hurc-20241031xex23d2.htm (EX-23.2) — 5KB
• hurc-20241031xex31d1.htm (EX-31.1) — 9KB
• hurc-20241031xex31d2.htm (EX-31.2) — 10KB
• hurc-20241031xex32d1.htm (EX-32.1) — 6KB
• hurc-20241031xex32d2.htm (EX-32.2) — 6KB
• hurc-20241031x10k002.jpg (GRAPHIC) — 97KB
• 0001558370-25-000129.txt ( ) — 12699KB
• hurc-20241031.xsd (EX-101.SCH) — 56KB
• hurc-20241031_cal.xml (EX-101.CAL) — 81KB
• hurc-20241031_def.xml (EX-101.DEF) — 235KB
• hurc-20241031_lab.xml (EX-101.LAB) — 532KB
• hurc-20241031_pre.xml (EX-101.PRE) — 450KB
• hurc-20241031x10k_htm.xml (XML) — 2749KB

Forward-Looking Statements

Forward-Looking Statements This report contains certain statements that are forward-looking statements within the meaning of federal securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this report, the words "may", "will", "should", "would", "could", "anticipate", "expect", "plan", "seek", "believe", "predict", "estimate", "potential", "project", "target", "forecast", "intend", "strategy", "future", "opportunity", "assume", "guide", and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, among others, the cyclical nature of the machine tool industry; uncertain economic conditions, which may adversely affect overall demand, in the Americas, Europe and Asia Pacific markets; the risks of our international operations; governmental actions, initiatives and regulations, including import and export restrictions, duties and tariffs and changes to tax laws; the effects of changes in currency exchange rates; competition with larger companies that have greater financial resources; our dependence on new product development; the need and/or ability to protect our intellectual property assets; the limited number of our manufacturing and supply chain sources; increases in the prices of raw materials, especially steel and iron products; the effect of the loss of members of senior management and key personnel; our ability to integrate acquisitions; acquisitions that could disrupt our operations and affect operating results; failure to comply with data privacy and security regulations; breaches of our network and system security measures; possible obsolescence of our technology and the need to make technological adva

BUSINESS

Item 1. BUSINESS General Hurco Companies, Inc. is an international, industrial technology company. We design, manufacture, and sell computerized (i.e., Computer Numeric Control ("CNC")) machine tools, consisting primarily of vertical machining centers (mills) and turning centers (lathes), to companies in the metal cutting industry through a worldwide sales, service, and distribution network. Although most of our computer control systems and software products are proprietary, they predominantly use industry standard personal computer components. Our computer control systems and software products are primarily sold as integral components of our computerized machine tool products. We also provide machine tool components, automation integration equipment and solutions for job shops, software options, control upgrades, accessories, and replacement parts for our products, as well as customer service, training, and applications support. As used in this report, the words "we", "us", "our", "Hurco" and the "Company" refer to Hurco Companies, Inc., and its consolidated subsidiaries. Since our founding in 1968, we have been a leader in the introduction of interactive computer control systems that automate manufacturing processes and improve productivity in the metal parts manufacturing industry. We pioneered the application of microprocessor technology and conversational programming software for use in machine tools. Our Hurco brand computer control systems can be operated by both skilled and unskilled machine tool operators, and yet are capable of instructing a machine to perform complex tasks. The combination of microprocessor technology and patented interactive, conversational programming software in our proprietary computer control systems enables operators on the production floor to create a program quickly and easily to machine a particular part from a blueprint or computer aided design file, and immediately begin machining that part. Our strategy is to design, m

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View this 10-K filing on SEC EDGAR