After examining their books of the third fiscal quarter, Hurco Companies reported its net income for $4.38 million or $0.66 each shares from $854,000 or $0.13 each share corresponding for the fiscal period of 2013.
Operating incomes rose to $6.14 million from $1.70 million. The service and sales fees for the third quarter increased to $55.38 million ($10.22 million) or 23 percent compared to the third quarter of fiscal 2013. Every year increase in service and sales fees for the third quarter earned from the favorable currency impacts of $1.66 million, when translating the foreign sales to U.S. Dollars used for financial reporting.
The boost in gross margin has lifted the profits of the company even with the small financial glitches. With patenting their innovative solutions, they have also designed ways of improving profit in the future. This will leverage their competition against those who have the same products in metalworking industry. Reaching the amendments at these stages, Hurco aims to increase their profits more. Specifications in their profit have largely increased compared to last year, as major modifications were made for Hurco Companies.