Hurco Reports Q3 Results (HURC)

Hurco Companies, Inc., HURC today reported a net loss of $1,173,000, or $(0.18) per diluted share, for its third quarter ended July 31, 2010, compared to a net loss of $1,231,000, or $(0.19) per diluted share, for the corresponding period in fiscal 2009. For the first nine months of fiscal 2010, Hurco reported a net loss of $4,582,000, or $(0.71) per diluted share, compared to a net loss of $1,158,000, or $(0.18) per diluted share, reported for the corresponding period in fiscal 2009. The year-to-date net loss for fiscal 2009 reflected the offsetting benefit of $2,712,000 of net realized gains on hedge contracts that were closed before maturity due to forecasted reductions in production and sales. There were no such gains during the corresponding period in fiscal 2010.