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HURCO REPORTS TWENTY-SECOND CONSECUTIVE PROFITABLE QUARTER

TO: BUSINESS EDITOR:

HURCO REPORTS TWENTY-SECOND CONSECUTIVE PROFITABLE QUARTER
    INDIANAPOLIS, Ind., Feb. 18 /PRNewswire/ -- Hurco Companies (NASDAQ: HURC) today reported net income of $54,000, or $.01 per share, on revenues of $20,679,000 for the first quarter of 1992, compared to net income of $254,000, or $.05 per share, on revenues of $22,056,000 for the same period last year.
    Backlog as of Jan. 31, 1992 was $6,400,000 compared to $7,200,000 as of Oct. 31, 1991.  First quarter orders were $19,200,000 compared to $18,900,000 for the same period a year ago.  U.S. orders were up 29.4 percent, while European orders were down 28.8 percent from 1991's first quarter.
    The greater sales of software and new technology products increased the gross margin percentage to 34.6 percent from 31.5 percent and partially offset lower revenue and higher marketing investment in the current period.
    "We are extremely proud to report our twenty-second consecutive profitable quarter," said Brian D. McLaughlin, president and CEO of Hurco Companies, Inc., "especially in light of the recessionary environment in the U.S. and European markets.  We currently anticipate economic conditions will remain sluggish until the last half of 1992."
            HURCO COMPANIES, INC. FINANCIAL HIGHLIGHTS
              (In thousands, expect per-share data)
                          (unaudited)
      Three Months Ended Jan. 31          1992        1991
    Revenue                                     $20,679     $22,056
    Net Income                                  $    54     $   254
    Earnings per common and
     common equivalent share                    $   .01    $    .05
    Weighted average common and
     common equivalent shares outstanding         5,528       5,442
    Hurco Companies, Inc. is one of the largest manufacturers of computer numerical control systems designed and built in the United States for stand-alone machine tools.  The end market for the company's products consists prtion and computer industries.  The company is based in Indianapolis, has additional manufacturing facilites in Detroit, Phoenix, Ariz., and High Wycombe, England, andhas sales , application engineering and service subsidiaries in Munich, Germany, Paris, France and Singapore.  Products are sold through 145 independent agents and distributors in the United States and 32 other countries.  The company also has direct sales forces in the United States, the United Kingdom, Germany, France, and Asia.
    -0-                         2/18/92
    /CONTACT: Michael K. Campbell, senior vice president, chief financial officer of Hurco Companies, Inc., 317-293-5309/
    (HURC) CO:  Hurco Companies ST:  Indiana SU:  ERN IN:  MAC SM -- CL005 -- 9793 02/18/92 09:35 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 18, 1992
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