Impairment charge hurt Hurco Companies Inc

Declining demand caused increase in losses for the fiscal time frame ending Oct 31 2020, company's loss per share grew to $-0.55 from $0.31 where Sales fell by -25.89 % to $44 millions from $60 millions a year ago.

In contrast to the third quarter 2020 Sales decreased by -2.03 % from $45 millions and eps fell from $0.32 per share.

For the fiscal time frame ending Oct 31 2020 Hurco Companies Inc logged net loss of $-3.589 million, instead of net income of $2.098 millions achieved in the same quarter a year before.

The losses from it's business operations, were increased by $5 million impairment charges.

Hurco Companies Inc reported net loss of $-6 millions and Sales of $171 millions for the fiscal year 2020.

Industrial Machinery and Components company said its eps were at $-0.93 compare to $2.55 in the previous fiscal year, while Sales Tumbled by -35.22 % from $263 millions a year ago.