Profile: Hurco Companies Inc (HURC.OQ)

HURC.OQ on NASDAQ Stock Exchange Global Select Market

28 Apr 2016
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Hurco Companies, Inc., incorporated on June 4, 1968, is an industrial technology company. The Company designs, manufactures and sells computerized machine tools, consisting of vertical machining centers (mills) and turning centers (lathes), to companies in the metal working industry through sales, services and distribution networks around the world. The Company's core products consist of general purpose computerized machine tools for the metal cutting industry. The Company also produces computer control systems and related software for press brake applications that are sold as retrofit units for installation on existing or new press brake machines. Additionally, it produces and distributes software options, control upgrades, hardware accessories, and replacement parts for its machine tool product lines, and it provides operator training and support services to its customers. Through the Company's wholly owned subsidiary, LCM Precision Technology S.r.l. (LCM) it produces computer numerical control (CNC) rotary and tilting tables, swivel heads and electro-spindles. The Company's products are categorized under Computerized Machine Tools- Machining and Turning Centers, Computer Control Systems and Software and LCM Precision Technology S.r.l. (LCM) Machine Tool Components and Accessories.

Computerized Machine Tools-Machining and Turning Centers

The Company designs, manufactures and sells computerized machine tools equipped with an integrated interactive computer control system that features its WinMax software. Its computer control system enables a machine tool operator to create complex two-dimensional or three-dimensional machining programs directly from an engineering drawing or computer aided design geometry file. The control features an operator console with a liquid crystal display (LCD), and incorporates an upgradeable personal computer (PC) platform using a high speed processor with solid rendering graphical programming. In addition, WinMax has a Windows based operating system that enables users to improve shop floor flexibility and software productivity. The Windows operating system coupled with its conversational style of program creation allows its customers' operators to create and edit part-making programs without incurring the incremental overhead of specialized computer aided design and computer aided manufacturing programmers. The Company's controls with WinMax software and processors handle the data these complex part-making programs require, which enables its customers to create parts.

The Company's offering of machining centers equipped with either a twin touch-screen console or a single touch-screen console consists of nine product lines: VM Product Line, VMX Product Line, Five-Axis Product Line, HS High Speed Machining Product Line, HMX Horizontal Product Line, HBMX Boring Mill Product Line, TM/TMM Product Line, TMX Product Line and DCX Product Line. The VM product line consists of moderately priced vertical machining centers for the entry-level market. The VM line consists of five models in four sizes with X-axis (horizontal) travels of 18, 26, 40, and 50 inches. The VMX product line consists of higher performing vertical machining centers aimed at manufacturers that require accuracy. The VMX line consists of 20 models in seven sizes with X-axis travels of 24, 30, 42, 50, 60, 64, and 84 inches. The five-axis product line is targeted at manufacturers seeking to produce complex multi-sided parts in a single setup. With the addition of the VMX30UHSi, VMX42HSRTi, DCX325Si, and VCX600i this year, the five-axis product line now consists of 13 models in five sizes.

The HS product line consists of two models with X-axis travels of 24 and 42 inches. The HMX product line is beneficial to manufacturers entering production manufacturing versus small batch manufacturing. The HMX product line consists of four models in three sizes with X-axis travels of 24, 32, and 41 inches. The HBMX product line is beneficial to manufacturers that build custom machinery and parts for a multitude of industries, such as packaging, pharmaceutical, automotive, energy, and medical. The HBMX boring mill product line consists of three models with X-axis travels of 55, 79, and 94 inches. The TM series is designed for entry-level job shops and contract manufacturers seeking efficient processing of small to medium lot sizes. There is one TM model in seven sizes: the TM6, TM8, TM10, TM12, TM18, TM18L, and TM18BB. The TMX product line consists of high performance turning centers. There are three models in two sizes. One of the models is equipped with an additional axis and motorized live tooling, and another one of the models has an additional spindle. The double column DCX series includes five models in three sizes. These 2-meter, 3-meter, and 4-meter machining centers are designed to facilitate production of large parts and molds often required by the aerospace, energy and custom machinery industries.

Computer Control Systems and Software

The Company's machine tool computer control systems and software products are sold directly to end-users and/or to original equipment manufacturers. Autobend computer control systems are applied to metal bending press brake machines that form parts from sheet metal and steel plate. They consist of a microprocessor-based computer control and back gauge. It markets two models of its Autobend computer control systems for press brake machines, in combination with six different back gauges as retrofit units for installation on existing or new press brake machines. In addition to its standard computer control features, it also offers software option products for two-dimensional programming. These products are sold to users of its computerized machine tools equipped with its twin touch-screen or single touch-screen consoles featuring WinMax control software. The options include: Swept Surface, SelectSurface Finish Quality (SFQ), DXF Transfer, UltiMonitor, UltiPocket, Conversational Part and Tool Probing, Advanced Verification Graphics, the Tool and Material Library, NC/Conversational Merge, Job List, Thread Repair, and Simultaneous Five-Axis Contouring.

UltiMonitor is a Web-based productivity, management and service tool, enabling customers to monitor, inspect and receive notifications about their Hurco machines from any location where they can access the Internet. UltiPocket automatically calculates the tool path around islands, eliminating the arduous task of plotting these shapes. Conversational Part and Tool Probing options permit the computerized dimensional measurement of machined parts and the associated cutting tools.

LCM Precision Technology S.r.l. (LCM) Machine Tool Components and Accessories

The Company is operating this business through its subsidiary in Italy, LCM. The LCM has five lines of Computer Numerical Control (CNC) rotary tables for both horizontal and vertical-horizontal positioning. Additionally, LCM offers CNC rotary tables powered by either a torque motor or a high-precision mechanical transmission. It also has seven lines of CNC tilting rotary tables, of which four lines are intended specifically for 5-axis machining centers. Each of the seven lines is differentiated by the technology used for clamping (hydraulic or pneumatic) and by the type of transmission (either mechanical transmission or torque motor). It also has two primary lines of swivel heads that enable the spindle axis to be tilted with continuous motion and one line of electro-spindles (built-in motors for swivel heads). Two lines of swivel heads are differentiated by the type of transmission (either mechanical transmission or torque motor).

The Company competes with Deckel Maho Gildemeister Group (DMG), Mori Seiki Co., Ltd., Mazak, Haas Automation, Inc., Hardinge Inc., Doosan, Okuma Machinery Works Ltd., IBAG, Kessler, Peron Speed, GSA Technology Co., LTD and Duplomatic Automation.

Company Address

Hurco Companies Inc

1 Technology Way
INDIANAPOLIS   IN   46268-5106
P: +1317.2935309
F: +1317.3282811

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