Machine tool manufacturer Hurco (NASDAQ: HURC) continued to ride the wave of improving conditions in the global industrial economy during the fourth quarter. While the company still looks undervalued on the basis of its long-term prospects, investors in this under-followed capital equipment company may well worry about the order situation. If 2012 does see Europe tip over into recession, the timeline for Hurco to realize its potential will get that much longer.
Solid Results Across The Board
Hurco reported that its fourth-quarter revenue jumped 40% - topping the lone analyst estimate by about 8%. North America continues to be the growth leader, with sales up 60% this quarter on a 38% increase in unit shipments. Europe remains the largest part of its business, with sales up 39% and units up 18%. Asia-Pacific was disappointing this quarter, as revenue fell 4% on a 6% decline in volume.
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Hurco Delivers A Good Q4 But Europe's A Worry
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