2017 Q1 Form 10-Q Financial Statement

#000114420417014026 Filed on March 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $48.74M $56.50M
YoY Change -13.73% 10.85%
Cost Of Revenue $36.16M $38.81M
YoY Change -6.82% 12.72%
Gross Profit $12.59M $17.70M
YoY Change -28.88% 6.96%
Gross Profit Margin 25.82% 31.32%
Selling, General & Admin $11.17M $11.96M
YoY Change -6.64% 14.42%
% of Gross Profit 88.73% 67.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $960.0K $960.0K
YoY Change 0.0% 31.51%
% of Gross Profit 7.63% 5.42%
Operating Expenses $11.17M $11.96M
YoY Change -6.64% 14.42%
Operating Profit $1.419M $5.737M
YoY Change -75.27% -5.84%
Interest Expense $21.00K $24.00K
YoY Change -12.5% -65.22%
% of Operating Profit 1.48% 0.42%
Other Income/Expense, Net -$51.00K -$226.0K
YoY Change -77.43% -26.38%
Pretax Income $1.422M $5.604M
YoY Change -74.63% -3.43%
Income Tax $543.0K $1.709M
% Of Pretax Income 38.19% 30.5%
Net Earnings $879.0K $3.895M
YoY Change -77.43% 3.43%
Net Earnings / Revenue 1.8% 6.89%
Basic Earnings Per Share $0.13 $0.59
Diluted Earnings Per Share $0.13 $0.58
COMMON SHARES
Basic Shares Outstanding 6.583M shares 6.558M shares
Diluted Shares Outstanding 6.668M shares 6.623M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.10M $51.80M
YoY Change 6.37% -13.52%
Cash & Equivalents $55.14M $51.79M
Short-Term Investments
Other Short-Term Assets $1.957M $2.008M
YoY Change -2.54% 56.63%
Inventory $117.8M $109.3M
Prepaid Expenses $9.260M $10.33M
Receivables $31.85M $38.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $218.0M $213.4M
YoY Change 2.14% 2.51%
LONG-TERM ASSETS
Property, Plant & Equipment $12.42M $13.02M
YoY Change -4.58% 18.41%
Goodwill $2.279M $2.286M
YoY Change -0.31% -3.67%
Intangibles $1.109M $1.236M
YoY Change -10.28% -13.63%
Long-Term Investments $6.800M $7.300M
YoY Change -6.85% 5.8%
Other Assets $6.781M $7.296M
YoY Change -7.06% 6.11%
Total Long-Term Assets $33.84M $19.58M
YoY Change 72.81% -22.08%
TOTAL ASSETS
Total Short-Term Assets $218.0M $213.4M
Total Long-Term Assets $33.84M $19.58M
Total Assets $251.8M $246.0M
YoY Change 2.36% 5.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.27M $43.54M
YoY Change -7.53% 6.58%
Accrued Expenses $12.48M $13.72M
YoY Change -9.04% -9.32%
Deferred Revenue
YoY Change
Short-Term Debt $1.453M $1.521M
YoY Change -4.47% -52.44%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $56.22M $62.47M
YoY Change -10.01% -0.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.400M $4.900M
YoY Change -10.2% 11.36%
Total Long-Term Liabilities $9.062M $8.450M
YoY Change 7.24% 52.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.22M $62.47M
Total Long-Term Liabilities $9.062M $8.450M
Total Liabilities $65.28M $70.92M
YoY Change -7.95% 4.2%
SHAREHOLDERS EQUITY
Retained Earnings $137.0M $129.1M
YoY Change 6.12% 12.4%
Common Stock $660.0K $656.0K
YoY Change 0.61% 0.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $186.5M $175.1M
YoY Change
Total Liabilities & Shareholders Equity $251.8M $246.0M
YoY Change 2.36% 5.44%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $879.0K $3.895M
YoY Change -77.43% 3.43%
Depreciation, Depletion And Amortization $960.0K $960.0K
YoY Change 0.0% 31.51%
Cash From Operating Activities $16.00M -$730.0K
YoY Change -2291.23% -108.6%
INVESTING ACTIVITIES
Capital Expenditures $798.0K $635.0K
YoY Change 25.67% 97.82%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.280M -$1.110M
YoY Change 15.32% 76.75%
FINANCING ACTIVITIES
Cash Dividend Paid $592.0K $525.0K
YoY Change 12.76% 14.88%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.065M -520.0K
YoY Change 104.81% 95.49%
NET CHANGE
Cash From Operating Activities $16.00M -730.0K
Cash From Investing Activities -$1.280M -1.110M
Cash From Financing Activities -$1.065M -520.0K
Net Change In Cash $13.65M -2.360M
YoY Change -678.43% -131.09%
FREE CASH FLOW
Cash From Operating Activities $16.00M -$730.0K
Capital Expenditures $798.0K $635.0K
Free Cash Flow $15.20M -$1.365M
YoY Change -1213.41% -116.72%

Facts In Submission

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152059 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
28.79
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
36.69
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
25.89
CY2017Q1 hurc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Withheld Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWithheldWeightedAverageGrantDateFairValue
25.89
CY2017Q1 hurc Number Of Guarantees
NumberOfGuarantees
23 pure
CY2017Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
1100000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1523000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2186000 USD
CY2017Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
806000 USD
CY2016Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
688000 USD
CY2017Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
790000 USD
CY2016Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
771000 USD
CY2017Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
6000 USD
CY2016Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
47000 USD
CY2017Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1533000 USD
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2056000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
57000 USD
CY2017Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
27118000 USD
CY2017Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16474000 USD
CY2017Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
74170000 USD
CY2017Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
109000000 USD
CY2016Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
125600000 USD
CY2017Q1 dei Document Type
DocumentType
10-Q
CY2017Q1 dei Amendment Flag
AmendmentFlag
false
CY2017Q1 dei Document Period End Date
DocumentPeriodEndDate
2017-01-31
CY2017Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2017Q1 dei Entity Registrant Name
EntityRegistrantName
HURCO COMPANIES INC
CY2017Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000315374
CY2017Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--10-31
CY2017Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2017Q1 dei Trading Symbol
TradingSymbol
HURC
CY2017Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
6602863 shares
CY2017Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
226000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-209000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
-510000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
181000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
93000 USD
CY2017Q1 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
1800000 USD
CY2017Q1 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
ForeignCurrencyCashFlowHedgeGainLossToBeReclassifiedDuringNext12Months
857000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
107889 shares
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y1M13D
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
20.25
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1142700 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
115000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
107889 shares
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M13D
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
20.25
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1142700 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
7678 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
29.98
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35918000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35195000 USD
CY2017Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
12500000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
12500000 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6754922 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6720453 shares
CY2017Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6602863 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6573103 shares
CY2017Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-3000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
174568000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
175103000 USD
CY2017Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
683000 USD
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
664000 USD
CY2017Q1 hurc Term Of Product Warranty
TermOfProductWarranty
P1Y
CY2017Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
22200000 USD
CY2017Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.38 pure
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.31 pure
CY2017Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
351000 USD
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
335000 USD
CY2017Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3500000 USD
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
85000 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
65000 shares
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-103000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2411000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
928000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
329000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
169000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
435000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-3170000 USD
CY2017Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1314000 USD
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
725000 USD
CY2017Q1 us-gaap Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
-136000 USD

Files In Submission

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0001144204-17-014026.txt Edgar Link pending
0001144204-17-014026-xbrl.zip Edgar Link pending
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hurc-20170131.xml Edgar Link completed
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