Overview
Industrial technology firm's Q1 sales and service fees fell 8% yr/yr, with improved gross profit margin
Company reported Q1 net loss of $3.5 mln, narrowing from previous year
Orders increased 5% in Q1
Outlook
Hurco sees improved order activity in the U.S.
Result Drivers
GROSS PROFIT MARGIN - Improved due to cost reductions and favorable sales mix of higher-performance machines
ORDERS INCREASE - Driven by increased customer demand for Hurco and Takumi machines in the Americas
SALES DECLINE - Decreased shipments of specific machine models in key regions led to revenue drop
Company press release: ID:nGNXQfF60
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$3.47 mln
Q1 Gross Margin
19.00%
Q1 Capex
$610,000
Q1 Gross Profit
$7.94 mln
Q1 Operating Income
-$3.17 mln
Q1 Pretax Profit
-$3.007 mln
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)