Hurco Q3 Profit Falls - Quick Facts

(RTTNews) - Hurco Companies, Inc.,(HURC) Friday reported a fall in its profit for the third quarter, as sales declined across all regions, driven primarily by the weakened market conditions in Europe.

The compnay reported net income of $0.85 million or $0.13 per share, compared with $3.9 million or $0.61 per share last year.

For the three-month period, the company reported sales of $45.1 million, compared with $49.9 million a year ago. The orders included about $3.7 million of LCM orders existing at the date of acquisition, along with new orders for LCM products subsequent to the acquisition in July. Excluding the LCM business's positive impact, orders decreased by 9 percent from a year earlier.

Hurco said its third-quarter expenses included about $0.60 million related to LCM, of which $0.46 million were one-time costs related to the acquisition of that company.