Wednesday, June 11, 2014

Seeking Alpha: Overlooked Hurco Still A Good Play On Europe's Recovery

Never let it be said that I won't go to some lengths to find good ideas, particularly in the industrial space. Following recent pieces on such household names (alas, there's no sarcasm or irony font) like KUKA (OTC:KUKAY), a German industrial robot company, and Semperit (OTC:SEIGY), an Austrian rubber products company, I turn back home with a quarterly update on Hurco (HURC), an American machine tool company that generates about two-thirds of its revenue in Europe, and particularly in Germany.

Hurco remains a difficult company to benchmark, as its focus on user-friendly high-spec machines for small manufacturing jobs (either small companies or larger companies doing small/prototype batches) sometimes puts it outside the overall trends in machine tool activity in North America and Germany. Likewise, Hurco just isn't that much like DMG Mori Seki (OTCPK:MRSKY) (GIL.XTA), Makino (OTCPK:MKMLF), or Okuma (OTC:OKUMF), and privately-held Haas Automation isn't any help either as a comp. All of that said, I believe the Hurco story is developing well and the company remains a good play on the improving economic and manufacturing activity in Europe.

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Overlooked Hurco Still A Good Play On Europe's Recovery

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