Hurco Companies, Inc. (HURC)
NASDAQ (NGS) NASDAQ (NGS) Primary 
XFRA 
Hurco's stock slides 12.8% after company suspends quarterly dividend payments
Hurco Cos. Inc.'s stock HURC, -0.75% tumbled 12.8% early Friday, after the industrial technology company said it's suspending its quarterly dividend as it works to enhance its financial flexibility. “While it was a difficult decision, we believe that temporarily suspending the quarterly cash dividend on Hurco's common stock will provide near-term benefits to our cash flow management while also allowing us to enhance our balance sheet and more optimally allocate available capital among various strategies,” said Greg Volovic, chief executive of the Indianapolis-based company, in prepared remarks.
Hurco (HURC) Q2 Earnings Decline Y/Y, Gross Margin Contracts
Hurco's (HURC) overall topline is dampened by revenue declines in all its geographic regions.
Hurco's Results Reflect An Underlying Industrial Market That Is Still Under Real Pressure
Hurco's fiscal second quarter reflected underappreciated pressures in the industrial economy, as industrial capex spending weakens amid short-cycle uncertainty. The company's gross margin fell more than expected, as the company cut prices to move inventory and saw a less favorable sales mix. Macro indicators like PMIs and machine tool orders as well as weaker results from other players in industrial markets support the thesis that current underlying conditions are tough.
