By Chris Wack
Hurco Companies Inc.'s fourth-quarter income of $2.1 million, or 31 cents a share, against a year-earlier loss of $3.6 million, or 54 cents a share included a favorable currency impact of $1.1 million.
Hurco on Friday said that its sales in the Asia Pacific region in the fourth quarter and for fiscal 2021 increased by 64% and 25%, respectively, and included a favorable currency impact of 6% for each period when translating foreign sales to U.S. dollars.
European sales for the quarter and year increased by 52% and 51%, respectively, and included a favorable currency impact of 3% and 8%, respectively, when translating foreign sales to U.S. dollars, the company said.
"Orders for fiscal 2021 were $265.4 million, an increase of $98.5 million, or 59%, compared to fiscal 2020, and included a favorable currency impact of $8.4 million, or 5%, when translating foreign orders to U.S. dollars," Hurco said. "Orders for the fourth quarter of fiscal 2021 were $75.7 million, an increase of $27 million, or 55%, compared to the corresponding period in fiscal 2020, and included a favorable currency impact of $361,000, or 1%, when translating foreign orders to U.S. dollars."
Hurco said its sales and service fees for fiscal 2021 were $235.2 million, an increase of 38% over the year before, that included a favorable currency impact of $7.7 million, or 5%. Sales and service fees for the fourth quarter were $69 million, an increase of 55% on year that included a favorable currency impact of $1.1 million, or 2%.
Write to Chris Wack at chris.wack@wsj.com
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Hurco 4Q Earnings Helped by Favorable Currency Impact -- Currency Comment - MarketWatch
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