Not so great this time. Sales and revenues down 14%. Earnings down 50%. On the bright side, orders were up from the same period last year and it sounds like sales may be getting pushed into Q2. It's interesting to note that the share price started a correction in mid February, just about 2 weeks after the end of Q1. It seems that the weaker resullts for Q1 were leaked a little? I think the share price would have dropped little more today if these results weren't partly priced in. The share price is now down $3.00 since the 1/31/2013 end of Q1.
Still, I think this will be a good investment going forward.
I think HURC fell in mid February because Hardinge reported so-so earnings around that time. The drop in HURCO could have been in sympathy.
What annoys me about HURCO is their lack of consideration for shareholders. They don't give advance notice of the earnings release and they don't have conference calls to discuss the results. I would like for them to elaborate on the sales that were moved to the second quarter. Should we expect a monster quarter next quarter? I just remembered - no analyst covers HURCO so why have a conference call.
The company has roughly $6 or $7share in net cash which I like. They plan to attend trade shows overseas so that should drum up some sales. The most recent trade show here in the US gave HURCO record orders. I like this company and am sure the price of the stock will rise significantly in the near future. I just hope the market doesn't crash first.