Hurco Companies Files Q3 2024 10-Q

TL;DR

Hurco's Q3 2024 10-Q is in, check financials for latest performance.

AI Summary

Hurco Companies Inc. filed its 10-Q for the period ending July 31, 2024. The filing details financial performance and operational updates for the third quarter. Specific financial figures and operational highlights are presented within the report.

Why It Matters

This filing provides investors and analysts with the latest financial health and performance indicators for Hurco Companies, crucial for understanding its current market position and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, Hurco Companies is subject to market fluctuations and industry-specific risks detailed in its SEC filings.

Key Numbers

• 3172935309 — Business Phone (Contact information for Hurco Companies Inc.)
• 1031 — Fiscal Year End (Indicates the end of Hurco's fiscal year.)

Key Players & Entities

• HURCO COMPANIES INC (company) — Filer of the 10-Q
• INDIANAPOLIS (location) — Company headquarters city
• 20240731 (date) — End of the reporting period
• 20240906 (date) — Filing date

FAQ

Filing Documents

• hurc-20240731x10q.htm (10-Q) — 1854KB
• hurc-20240731xex31d1.htm (EX-31.1) — 12KB
• hurc-20240731xex31d2.htm (EX-31.2) — 11KB
• hurc-20240731xex32d1.htm (EX-32.1) — 6KB
• hurc-20240731xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-012651.txt ( ) — 6918KB
• hurc-20240731.xsd (EX-101.SCH) — 38KB
• hurc-20240731_cal.xml (EX-101.CAL) — 60KB
• hurc-20240731_def.xml (EX-101.DEF) — 131KB
• hurc-20240731_lab.xml (EX-101.LAB) — 334KB
• hurc-20240731_pre.xml (EX-101.PRE) — 270KB
• hurc-20240731x10q_htm.xml (XML) — 1214KB

- Financial Information

Part I - Financial Information Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations Three and Nine Months Ended July 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) Three and Nine Months Ended July 31, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of July 31, 2024 and October 31, 2023 5 Condensed Consolidated Statements of Cash Flows Three and Nine Months Ended July 31, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Shareholders' Equity Three and Nine Months Ended July 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 29

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 5. Other Information 30 Item 6. Exhibits 31

Signatures

Signatures 32 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

. FINANCIAL STATEMENTS

Item 1 . FINANCIAL STATEMENTS HURCO COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) Three Months Ended Nine Months Ended July 31, July 31, 2024 2023 2024 2023 (unaudited) (unaudited) Sales and service fees $ 42,651 $ 53,201 $ 132,882 $ 161,702 Cost of sales and service 34,808 39,753 107,325 122,953 Gross profit 7,843 13,448 25,557 38,749 Selling, general and administrative expenses 10,376 12,436 33,352 35,512 Operating (loss) income ( 2,533 ) 1,012 ( 7,795 ) 3,237 Interest expense 159 88 426 159 Interest income 172 122 492 259 Investment income, net 59 11 126 47 Other (expense) income, net ( 136 ) ( 412 ) ( 1,125 ) ( 131 ) (Loss) income before income taxes ( 2,597 ) 645 ( 8,728 ) 3,253 Provision for income taxes 6,999 385 6,438 1,286 Net (loss) income $ ( 9,596 ) $ 260 $ ( 15,166 ) $ 1,967 (Loss) income per common share Basic $ ( 1.47 ) $ 0.04 $ ( 2.33 ) $ 0.30 Diluted $ ( 1.47 ) $ 0.04 $ ( 2.33 ) $ 0.30 Weighted average common shares outstanding Basic 6,513 6,462 6,505 6,511 Diluted 6,513 6,469 6,505 6,538 Dividends paid per share $ — $ 0.16 $ 0.32 $ 0.47 The accompanying notes are an integral part of the condensed consolidated financial statements. 3 Table of Contents HURCO COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In thousands) Three Months Ended Nine Months Ended July 31, July 31, 2024 2023 2024 2023 (unaudited) (unaudited) Net (loss) income $ ( 9,596 ) $ 260 $ ( 15,166 ) $ 1,967 Other comprehensive (loss) income: Translation (loss) gain of foreign currency financial statements 1,085 ( 1,315 ) 1,601 8,346 (Gain) / loss on derivative instruments reclassified into operations, net of tax (expense) / benefit of $ 112 , $( 35 ), $ 297 , and $(

View Full Filing

View this 10-Q filing on SEC EDGAR