Hurco Q1 Profit Falls

(RTTNews.com) - Industrial technology company Hurco Companies Inc. ( HURC ) Wednesday reported a fall in first-quarter profit, owing mainly to a reduction in reported sales, resulting from a shift in the timing of shipments between quarters, particularly in Europe.

For the period, the firm posted net earnings of $2.25 million or $0.34 per share, down from $4.63 million or $0.71 per share a year ago.

Sales and service fees for the quarter stood at $44.08 million, down from $51.12 million for the corresponding period last year, led by a $5.24 million fall in the Europe region and $2.71 million fall in the Asia Pacific region.

The company, however, said orders during the first quarter of 2013 were 5 percent higher than in the corresponding period last year.

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