ADDED
Our Hurco brand computer control systems can be operated by both skilled and unskilled machine tool operators, and yet can instruct a machine to perform complex tasks.
We have manufacturing and assembly operations in Taiwan, the U.S.
and Italy, and distribution facilities in the U.S., the Netherlands, and Taiwan.
During fiscal year 2025, our sales and service fees were $178.6 million, a decrease of $8.0 million, or 4%, compared to fiscal year 2024 and included a favorable currency impact of $2.0 million, or 1%, when translating foreign sales to U.S.
Sales decreased year-over-year due primarily to a decreased volume of shipments of Hurco 5-axis vertical machines and entry-level 3-axis Hurco and Milltronics machines in the Americas, Germany and France, as well as decreased shipments of electro-mechanical components and accessories manufactured by our wholly-owned subsidiary, LCM Precision Technology S.r.l.
For fiscal year 2025, we reported a net loss of $15.1 million, or $2.34 per diluted share, compared to net loss of $16.6 million, or $2.56 per diluted share, for fiscal year 2024.
Product Portfolio by Brand We have three CNC machine tool brands in our product portfolio.
The Takumi brand is for customers looking for top-tier precision and performance typically sought by the die and mold, aerospace, and medical industries.
Due to leverage of shared resources and cross-utilization of proven engineering designs, we achieve manufacturing efficiency from economies of scale.
Companies using computer-controlled machine tools are better able to: maximize the efficiency of their human resources; make more advanced and complex parts from a wide range of materials using multiple processes; incorporate rapidly evolving changes in technology into their operations to maintain their competitive edge; integrate their business into the global supply chain of their customers; and connect equipment to intranet external networks to facilitate collaboration, communication and monitoring.
REMOVED
Our Hurco brand computer control systems can be operated by both skilled and unskilled machine tool operators, and yet are capable of instructing a machine to perform complex tasks.
We have manufacturing and assembly operations in Taiwan, the U.S., Italy, and China, and distribution facilities in the U.S., the Netherlands, and Taiwan.
During fiscal year 2024, our sales and service fees were $186.6 million, a decrease of $41.2 million, or 18%, compared to fiscal year 2023 and included a favorable currency impact of $1.8 million, or less than 1%, when translating foreign sales to U.S.
Sales decreased year-over-year due primarily to a decreased volume of shipments of higher-performance Hurco, Takumi, and Milltronics machines in the Americas, Germany, the United Kingdom, Italy and China, as well as decreased shipments of electro-mechanical components and accessories manufactured by our wholly-owned subsidiary, LCM Precision Technology S.r.l.
For fiscal year 2024, we reported a net loss of $16.6 million, or $(2.56) per diluted share, compared to net income of $4.4 million, or $0.66 per diluted share, for fiscal year 2023.
The net loss for fiscal year 2024 included a non-cash tax valuation allowance of $8.6 million recorded in provision for income taxes.
Product Portfolio by Brand We have three brands of CNC machine tools in our product portfolio.
The Takumi brand is for customers that need precision and very high speed, high efficiency performance, such as that required in the die and mold, aerospace, and medical industries.
Due to leverage of shared resources and cross-utilization of proven engineering designs, we achieve manufacturing cost reductions from economies of scale and manufacturing efficiencies.
Companies using computer-controlled machine tools are better able to: maximize the efficiency of their human resources; make more advanced and complex parts from a wide range of materials using multiple processes; incorporate fast moving changes in technology into their operations to keep their competitive edge; integrate their business into the global supply chain of their customers by supporting small to medium lot sizes for just in time initiatives; and connect equipment to intranet and extranets to facilitate collaboration, communication and monitoring.