Hurco Companies, Inc. (NASDAQ:HURC) on Friday reported third quarter financial results before market open.
The company HURC communicated income for the third quarter of $ 3.49 million or $ 0.51 per share, compared to income of $ 6.50 million or $ 0.95 per share, in the same quarter last year.
Topline results for the third quarter dropped 25.71 percent to $ 58.50 million from $ 78.75 million in the same quarter last year
Michael Doar, Chief Executive Officer, stated, The global market for machine tools is seeing the impact of uncertainty related to trade negotiations. Whether impacted directly or indirectly, machine tool suppliers, builders, distributors and customers are all faced with an element of pricing pressure and uncertainty that ultimately impacts the consumption of machine tools.