Hurco edges up on higher Q1 profit

Hurco Companies

04/03/2022 16:57

** Industrial tools manufacturer Hurco Companies Inc's
 HURC.O  shares up 1.6% at $33.52
    ** Co reports Q1 net income of 53 cents/shr, up from 10
cents/shr from last year  urn:newsml:reuters.com:*:nGNX85Scpx
    ** Quarterly sales and services fees jump 24% 
    ** Sees strength in European machine tool markets, where co
typically sells many higher-priced machines
    ** Also sees strong demand in Southeast Asia and India,
which somewhat cushioned the softer demand in China
    ** Co continued to feel pressures of inflation and
competitive labor markets, CEO Greg Volovic says
    ** Q4 expenses jump 10% 
    ** Stock is up 13% YTD

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))