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Hardinge Inc. Announces Third Quarter EPS of $(0.11)

Hardinge Inc. (Nasdaq: HDNG) today announced results for its third quarter and nine months ended September 30, 2010.

Performance Summary:

  • Third quarter orders were $70.6 million, a 51% increase compared to third quarter 2009
  • Third quarter sales were $71.9 million, a 44% increase compared to third quarter 2009

Hardinge had a net loss of ($1.2) million, or ($0.11) per basic and diluted share, for the third quarter, down from a net loss of ($14.7) million, or ($1.29) per basic and diluted share, for the same period of 2009. Year to date, the Company had a net loss of ($7.2) million, also down from a net loss of ($25.0) million for the same period in 2009. Third quarter EBITDA (earnings before interest, taxes, depreciation, and amortization) was $1.7 million up from a loss of ($12.3) million for the same period of 2009. On a year to date basis EBITDA was a loss of ($0.7) million compared to a loss of ($16.7) million for the same period of 2009.

Posted-In: Earnings News

 

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