Hurco Companies, Inc. (HURC) Bundle
A Brief History of Hurco Companies, Inc. (HURC)
Foundation and Early Years
Hurco Companies, Inc. was founded in 1968 by John W. Hurley and is headquartered in Indianapolis, Indiana. The company initially aimed to develop innovative CNC (Computer Numerical Control) technology.
Product Development and Technological Innovations
In 1970, Hurco introduced the first microprocessor-based CNC control for vertical machining centers. This marked a significant shift in the industry, promoting efficiency and precision in machining processes.
Growth and Expansion
By the 1980s, Hurco expanded its product line to include CNC lathes and other machining tools. In 1988, the company went public, listing its shares on the NASDAQ Stock Market under the ticker symbol HURC.
Financial Performance
In the fiscal year ending 2022, Hurco Companies, Inc. reported total revenues of $102.6 million. The net income for the same year stood at $5.5 million, reflecting a gross profit margin of approximately 28.4%.
| Fiscal Year | Total Revenue | Net Income | Gross Profit Margin |
|---|---|---|---|
| 2020 | $75.4 million | $3.2 million | 29.5% |
| 2021 | $85.7 million | $4.1 million | 28.2% |
| 2022 | $102.6 million | $5.5 million | 28.4% |
Market Position and Competitors
As of 2023, Hurco is recognized as one of the leading manufacturers of CNC machining centers in North America. The company competes with various industry players including Haas Automation, Fanuc, and Siemens.
Recent Developments and Innovations
In 2023, Hurco launched its new line of 5-axis CNC machining centers, aimed at increasing productivity and precision for manufacturers. These models highlight the latest advancements in Hurco's patented control technologies.
Global Presence
Hurco has established a global presence, operating in over 50 countries, with manufacturing facilities in India and Taiwan. The international sales accounted for approximately 49% of the total revenue in 2022.
Employee Statistics
As of 2023, Hurco employs around 400 individuals globally, with a focus on engineering, production, and sales.
A Who Owns Hurco Companies, Inc. (HURC)
Company Overview
Hurco Companies, Inc. (HURC) is a publicly traded company specializing in CNC (Computer Numerical Control) machine tools and software. As of October 2023, the company is headquartered in Indianapolis, Indiana, with operations that extend globally.
Ownership Structure
The ownership of Hurco Companies, Inc. is primarily distributed among institutional investors, individual shareholders, and company executives. Below is a detailed breakdown of the major shareholders as of the latest available data:
| Shareholder Type | Percentage Ownership | Number of Shares | Notes |
|---|---|---|---|
| Institutional Investors | 43.5% | 1,200,000 | Includes major investment firms |
| Individual Shareholders | 36.2% | 1,000,000 | Variety of retail investors |
| Company Executives | 20.3% | 500,000 | Shares owned by top management |
Major Institutional Investors
Some of the key institutional investors in Hurco Companies, Inc. include:
| Institution Name | Ownership Percentage | Number of Shares | Investment Type |
|---|---|---|---|
| BlackRock, Inc. | 10.5% | 300,000 | Investment Management |
| The Vanguard Group, Inc. | 8.4% | 235,000 | Index Fund Management |
| Wellington Management Company LLP | 6.7% | 185,000 | Asset Management |
Key Executives
The executive team at Hurco plays a significant role in the ownership structure. Below are notable executives and their respective shareholdings:
| Executive Name | Position | Number of Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Gregory S. Volovic | President & CEO | 200,000 | 8.0% |
| J. Douglass E. Hantke | VP Finance | 150,000 | 6.0% |
| John M. Worrell | VP of Engineering | 100,000 | 4.0% |
Stock Performance
As of late October 2023, the stock performance of Hurco Companies, Inc. reflects market trends and investor sentiment:
| Date | Stock Price | Market Capitalization | Trading Volume |
|---|---|---|---|
| October 20, 2023 | $24.50 | $600 million | 150,000 |
| October 15, 2023 | $23.80 | $570 million | 200,000 |
| October 10, 2023 | $22.90 | $550 million | 180,000 |
Dividends and Financial Performance
Hurco has maintained a history of dividend payments, contributing to its attractiveness among investors:
| Fiscal Year | Dividend per Share | Total Dividends Paid | Net Income |
|---|---|---|---|
| 2023 | $0.60 | $15 million | $30 million |
| 2022 | $0.55 | $13 million | $28 million |
| 2021 | $0.50 | $12 million | $25 million |
Hurco Companies, Inc. (HURC) Mission Statement
Company Overview
Hurco Companies, Inc. operates in the machine tool industry, primarily focused on developing software and hardware solutions for CNC (computer numerical control) machine tools. The company is dedicated to providing innovative technologies that enhance the productivity and efficiency of manufacturing processes.
Mission Statement
The mission statement of Hurco Companies, Inc. is to provide innovative machine tool solutions that behave like a productive employee, ensuring that customers have the right tools to enhance productivity, quality, and profitability.
Core Values
- Innovation: Commitment to continuous improvement in machine tool design.
- Customer Satisfaction: Focus on fulfilling customer needs through reliable products and services.
- Integrity: Upholding transparency and ethical practices in all operations.
Strategic Goals
Hurco's strategic goals include:
- Expanding market share in North America and internationally.
- Enhancing product development through investment in research and development.
- Increasing customer support and service efficiency.
Financial Performance
As of the fiscal year ending October 31, 2022, Hurco Companies, Inc. reported the following financial statistics:
| Financial Metric | Amount (USD) |
|---|---|
| Revenue | $122.5 million |
| Net Income | $8.4 million |
| Total Assets | $53.6 million |
| Total Liabilities | $18.3 million |
| Shareholders' Equity | $35.3 million |
Market Position
Hurco Companies, Inc. is positioned as a key player in the CNC machine tool sector, with a competitive edge in:
- Advanced software capabilities tailored for user-friendly operations.
- A diverse product range, including mills and lathes.
- Strong customer relationships and a robust support network.
Competitors
Hurco competes with several notable companies in the machine tool industry, including:
- Haas Automation, Inc.
- FANUC Corporation
- Siemens AG
Recent Developments
In 2023, Hurco Companies, Inc. launched a new series of CNC machines aimed at increasing efficiency in production lines. The cutting-edge technology introduced in these machines features:
- Enhanced automation capabilities.
- Integration with IoT for data-driven decision-making.
Future Outlook
Looking ahead, Hurco Companies, Inc. aims to achieve a revenue growth of approximately 10% year-over-year, guided by the following initiatives:
- Expanding into emerging markets.
- Investing in sustainable manufacturing solutions.
How Hurco Companies, Inc. (HURC) Works
Company Overview
Hurco Companies, Inc. (HURC) is a manufacturer known for its advanced technology in CNC (computer numerical control) machine tools. The company specializes in providing solutions that enhance the productivity and efficiency of machining operations.
Product Offerings
Hurco’s product range includes:
- CNC machining centers
- Turning centers
- Control software
- Accessories and tooling
Financial Performance
As of the fiscal year ended October 31, 2022, Hurco reported the following financial performance metrics:
| Metric | Value (USD) |
|---|---|
| Revenue | USD 104.2 million |
| Net Income | USD 6.4 million |
| Total Assets | USD 84.5 million |
| Total Liabilities | USD 18.6 million |
| Shareholders' Equity | USD 65.9 million |
Market Presence
Hurco operates in numerous markets with significant sales contributions in:
- North America
- Europe
- Asia
Sales and Distribution Channels
The company utilizes a combination of direct sales and a network of distributors to market its products. In fiscal year 2022, Hurco achieved:
| Region | Sales (USD) |
|---|---|
| North America | USD 67.5 million |
| Europe | USD 24.3 million |
| Asia | USD 12.4 million |
Investment in Technology
Hurco invests heavily in research and development, with approximately:
- USD 3.2 million allocated in 2022
- Focus on enhancing CNC technology and software capabilities
Workforce and Employment
As of 2022, Hurco employed approximately:
- 400 individuals worldwide
- Engineers, technicians, and support staff
Stock Performance
According to the latest data, the stock performance of Hurco Companies, Inc. is as follows:
| Metric | Value |
|---|---|
| Stock Price (as of latest close) | USD 19.20 |
| Market Capitalization | USD 150 million |
| P/E Ratio | 23.44 |
| Dividend Yield | 2.08% |
Future Outlook
In 2023, Hurco Companies, Inc. aims for projected revenue growth of:
- 5%-10% increase year-over-year
- Expansion into emerging markets
How Hurco Companies, Inc. (HURC) Makes Money
Overview of Business Segments
Hurco Companies, Inc. operates primarily in the manufacturing sector, focusing on advanced machine tool technology and software. The company's revenue generation is mainly structured around the following segments:
- Machine Tool Sales
- Software Solutions
- Service and Support
Machine Tool Sales
Hurco generates a significant portion of its revenue from the sale of CNC (Computer Numeric Control) machine tools. In fiscal year 2022, Hurco reported machine tool sales of approximately $60 million.
| Year | Machine Tool Sales ($ million) | Percentage of Total Revenue |
|---|---|---|
| 2020 | $50 | 62% |
| 2021 | $55 | 60% |
| 2022 | $60 | 58% |
Software Solutions
In addition to hardware, Hurco provides proprietary software that enhances the functionality of its machine tools. The software segment generated approximately $20 million in revenue in 2022, accounting for around 18% of total revenue.
| Year | Software Revenue ($ million) | Percentage of Total Revenue |
|---|---|---|
| 2020 | $15 | 18% |
| 2021 | $18 | 20% |
| 2022 | $20 | 18% |
Service and Support
The service and support segment, which includes maintenance, repair, and customer support, also contributes to the company's revenue. In 2022, this segment brought in around $25 million, representing about 24% of total revenue.
| Year | Service Revenue ($ million) | Percentage of Total Revenue |
|---|---|---|
| 2020 | $20 | 25% |
| 2021 | $23 | 25% |
| 2022 | $25 | 24% |
Geographical Distribution
Hurco's sales are distributed across various geographical regions. The following table provides a breakdown of revenue by region for the year 2022:
| Region | Revenue ($ million) | Percentage of Total Revenue |
|---|---|---|
| North America | $40 | 38% |
| Europe | $50 | 48% |
| Asia | $10 | 10% |
| Rest of World | $5 | 4% |
Financial Performance Indicators
For the fiscal year 2022, Hurco reported the following key financial indicators:
- Total Revenue: $103 million
- Gross Profit: $38 million
- Net Income: $10 million
Conclusion of Financial Metrics
Hurco's multifaceted approach to revenue generation through machine tool sales, software solutions, and service support creates a balanced financial portfolio.
Hurco Companies, Inc. (HURC) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support