Hardinge was founded in 1890 and is headquartered in Horseheads, US

Hardinge has offices in Horseheads, Leicester, Krefeld, Saint Gallen and in 4 other locations

Horseheads, US (HQ)

1 Hardinge Dr

Rochester, US

1200 Brooks Ave

Shanghai, CN

Kang Qiao Xin Yuan

Biel, CH

107 Längfeldweg

Krefeld, DE

13 Europark Fichtenhain A

Leicester, GB

Murrayfield Rd

Hardinge's revenue was reported to be $64.6 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 64.6 m |

## Gross profit (Q1, 2017) | 21.4 m |

## Gross profit margin (Q1, 2017), % | 33% |

## Net income (Q1, 2017) | (2 m) |

## EBIT (Q1, 2017) | (1.8 m) |

## Market capitalization (18-Aug-2017) | 175.4 m |

## Cash (31-Mar-2017) | 26.7 m |

Hardinge's current market capitalization is $175.4 m.

USD | FY, 2010^{} | FY, 2011^{} | FY, 2012^{} | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|---|

## Revenue | 329.5 m | 311.6 m | 315.2 m | 292 m | |||

## Revenue growth, % | (5%) | 1% | (7%) | ||||

## Cost of goods sold | 195.7 m | 250.5 m | 237.6 m | 236.2 m | 224.8 m | 224.9 m | 194.5 m |

## Gross profit | 93.2 m | 86.9 m | 90.4 m | 97.5 m | |||

## Gross profit Margin, % | 28% | 28% | 29% | 33% | |||

## General and administrative expense | 79.6 m | ||||||

## Operating expense total | 79.6 m | ||||||

## EBIT | 7 m | (447 k) | 4.9 m | 3.4 m | |||

## EBIT margin, % | 2% | (0%) | 2% | 1% | |||

## Interest expense | 426 k | 339 k | 859 k | 1.1 m | 737 k | 655 k | 555 k |

## Interest income | 64 k | 59 k | 156 k | 227 k | |||

## Pre tax profit | 5.9 m | (1.1 m) | 4.4 m | 3.1 m | |||

## Income tax expense | 2.2 m | 4.4 m | 1.5 m | 1.5 m | 1.2 m | 1.8 m | 1.8 m |

## Net Income | 9.9 m | (2.1 m) | 2.6 m | 1.2 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 78.9 m | 68.9 m | 69.1 m | 82.4 m | 76.8 m | 67.8 m | 70.2 m | 67.2 m | 64.6 m |

## Cost of goods sold | 56.9 m | 50.2 m | 50.9 m | 58.9 m | 55 m | 45.1 m | 46.6 m | 44.1 m | 43.2 m |

## Gross profit | 22 m | 18.7 m | 18.2 m | 23.5 m | 21.8 m | 22.7 m | 23.6 m | 23.2 m | 21.4 m |

## Gross profit Margin, % | 28% | 27% | 26% | 28% | 28% | 34% | 34% | 34% | 33% |

## General and administrative expense | 20.1 m | 20.1 m | 19.6 m | 21.1 m | 19.9 m | 20.6 m | 19.6 m | 20 m | 18 m |

## Operating expense total | 20.1 m | 20.1 m | 19.6 m | 21.1 m | 19.9 m | 20.6 m | 19.6 m | 20 m | 18 m |

## EBIT | 1.6 m | (6.9 m) | (1.4 m) | 2.4 m | 756 k | (1.2 m) | 301 k | (640 k) | (1.8 m) |

## EBIT margin, % | 2% | (10%) | (2%) | 3% | 1% | (2%) | 0% | (1%) | (3%) |

## Interest expense | 155 k | 171 k | 157 k | 154 k | 161 k | 153 k | 132 k | 142 k | 105 k |

## Interest income | (12 k) | (15 k) | (17 k) | (23 k) | (40 k) | (67 k) | (69 k) | (56 k) | (40 k) |

## Pre tax profit | 1.5 m | (7 m) | (1.6 m) | 2.3 m | 635 k | (1.3 m) | 238 k | (726 k) | (1.9 m) |

## Income tax expense | 144 k | 544 k | (149 k) | 666 k | 962 k | (86 k) | 93 k | 657 k | 198 k |

## Net Income | 896 k | (6.7 m) | (1.4 m) | 178 k | (149 k) | (1.2 m) | (1.1 m) | (2.5 m) | (2 m) |

USD | Y, 2009^{} | Y, 2010^{} | Y, 2011^{} | Y, 2012^{} | Y, 2013^{} | Y, 2014^{} | Y, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|---|---|

## Cash | 20.4 m | 30.9 m | 21.7 m | 26.9 m | 34.7 m | 16.3 m | 32.8 m | 28.3 m |

## Accounts Receivable | 57.1 m | 62.9 m | 56.9 m | 55.6 m | ||||

## Inventories | 107 m | |||||||

## Current Assets | 221.5 m | 204.7 m | 211.5 m | 200.7 m | ||||

## PP&E | 74.7 m | 65.9 m | 62 m | 57 m | ||||

## Goodwill | 9.9 m | 6.7 m | 6.6 m | 6.6 m | ||||

## Total Assets | 344 m | 311.3 m | 311.3 m | 297.6 m | ||||

## Accounts Payable | 24.4 m | 25.6 m | 24.7 m | 24.9 m | ||||

## Total Debt | 5.6 m | 26.6 m | 16.2 m | 11.8 m | 5.9 m | |||

## Current Liabilities | 84.7 m | 70.3 m | 82.3 m | 72.8 m | ||||

## Non-Current Liabilities | 55.7 m | 71.4 m | 67.9 m | 68.8 m | ||||

## Total Liabilities | 140.4 m | 141.7 m | 150.2 m | 141.6 m | ||||

## Common Stock | 125 k | 128 k | 128 k | 129 k | ||||

## Additional Paid-in Capital | 115 m | 120.5 m | 120.5 m | 121 m | ||||

## Retained Earnings | 90.9 m | 87.8 m | 89.4 m | 89.6 m | ||||

## Total Equity | 203.6 m | 161.1 m | 155.9 m | |||||

## Debt to Equity Ratio | 0.1 x | 0.1 x | 0 x | |||||

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0 x | 0 x | ||||

## Financial Leverage | 1.7 x | 1.9 x | 1.9 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 22.3 m | 15 m | 18.3 m | 22.8 m | 18.5 m | 29.3 m | 23.4 m | 22.9 m | 26.7 m |

## Accounts Receivable | 55.3 m | 53.6 m | 55.6 m | 56.2 m | 55.7 m | 49.9 m | 45 m | 47.2 m | 46.6 m |

## Inventories | 119.3 m | 123.2 m | 116.3 m | 122.3 m | 119.2 m | 117.1 m | 118.1 m | 120.4 m | 115.9 m |

## Current Assets | 212.1 m | 207.5 m | 207 m | 217 m | 208.5 m | 209 m | 200.1 m | 205.1 m | 202.5 m |

## PP&E | 71.9 m | 68.2 m | 65.4 m | 66.3 m | 63.8 m | 62.3 m | 60.4 m | 59.7 m | 56.9 m |

## Goodwill | 11.6 m | 6.7 m | 6.7 m | 6.7 m | 6.6 m | 6.6 m | 6.6 m | 6.6 m | 6.7 m |

## Total Assets | 334.6 m | 319.9 m | 313.1 m | 324 m | 312.1 m | 309.5 m | 298.2 m | 302.8 m | 299.8 m |

## Accounts Payable | 28 m | 26.6 m | 27.1 m | 30.5 m | 25.4 m | 24.5 m | 22.5 m | 24.3 m | 26 m |

## Current Liabilities | 71.1 m | 73.3 m | 74.4 m | 81 m | 77.6 m | 79 m | 71.6 m | 77.1 m | 74.3 m |

## Non-Current Liabilities | 52.4 m | 49.4 m | 69.3 m | 68.5 m | 66.1 m | 66.9 m | 64.5 m | 62.4 m | 67.3 m |

## Common Stock | 128 k | 128 k | 128 k | 129 k | 129 k | 128 k | 129 k | 129 k | 129 k |

## Additional Paid-in Capital | 120.4 m | 120.3 m | 120.9 m | 121 m | 121 m | 120.5 m | 120.7 m | 121.2 m | 121.2 m |

## Retained Earnings | 91.3 m | 83.5 m | 86.1 m | 87.4 m | 86.9 m | 87.9 m | 87.8 m | 86.1 m | 87.2 m |

## Total Equity | 174.5 m | 168.3 m | 163.6 m | 162.1 m | 163.4 m | 158.2 m | |||

## Financial Leverage | 1.9 x | 1.9 x | 1.9 x | 1.8 x | 1.9 x | 1.9 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 9.9 m | (2.1 m) | 2.6 m | 1.2 m |

## Depreciation and Amortization | 9.6 m | 9.8 m | 8.5 m | 8.8 m |

## Accounts Receivable | (68 k) | (7.9 m) | 3.9 m | (284 k) |

## Inventories | (1.3 m) | (1.4 m) | 252 k | |

## Accounts Payable | (4.1 m) | 2.2 m | 450 k | 141 k |

## Cash From Operating Activities | 25.8 m | 3.2 m | 26.7 m | 5.3 m |

## Capital Expenditures | (3.9 m) | (3.2 m) | (4.2 m) | (2.5 m) |

## Cash From Investing Activities | (31.7 m) | (8.5 m) | (4.1 m) | (2.4 m) |

## Long-term Borrowings | (9.3 m) | (4.5 m) | (5.8 m) | |

## Dividends Paid | (944 k) | (1 m) | (1 m) | (1.1 m) |

## Cash From Financing Activities | 13.7 m | (12.1 m) | (5.7 m) | (6.5 m) |

## Free Cash Flow | 29.7 m | 6.4 m | 30.9 m | 2.8 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 896 k | (6.7 m) | (1.4 m) | 178 k | (149 k) | (1.2 m) | (1.1 m) | (2.5 m) | (2 m) |

## Depreciation and Amortization | 5 m | 7.3 m | 2.3 m | 4.6 m | 6.8 m | 2 m | 4.1 m | 6.1 m | 2.2 m |

## Accounts Receivable | 1.9 m | 2.7 m | 6.6 m | 6.7 m | 6 m | 7.6 m | 11.8 m | 9.8 m | 9.8 m |

## Inventories | (4.7 m) | (10.1 m) | (4.8 m) | (8.5 m) | (8.7 m) | (4.9 m) | (7.7 m) | (9.5 m) | (8.2 m) |

## Accounts Payable | 3.5 m | 2.7 m | 2.1 m | 5.1 m | 990 k | (514 k) | (2.2 m) | (586 k) | 1.1 m |

## Cash From Operating Activities | 353 k | (837 k) | 3.8 m | 10.5 m | 9 m | (5.4 m) | (6 m) | (4.3 m) | (1.1 m) |

## Capital Expenditures | (1.1 m) | (1.8 m) | (699 k) | (2 m) | (3.1 m) | (436 k) | (992 k) | (1.5 m) | (480 k) |

## Cash From Investing Activities | (4.3 m) | (7.2 m) | (699 k) | (2 m) | (3.1 m) | (404 k) | (955 k) | (1.5 m) | (477 k) |

## Long-term Borrowings | (7.6 m) | (8.4 m) | (1.5 m) | (2.4 m) | (3.2 m) | (1 m) | (2.3 m) | (3.2 m) | (762 k) |

## Dividends Paid | (503 k) | (757 k) | (255 k) | (525 k) | (781 k) | (274 k) | (536 k) | (792 k) | (258 k) |

## Cash From Financing Activities | (8.4 m) | (11 m) | (1.6 m) | (3.1 m) | (4.2 m) | 1.9 m | (2.6 m) | (4 m) | (948 k) |

## Free Cash Flow | (771 k) | (2.7 m) | 3.1 m | 8.6 m | 5.9 m | (5.8 m) | (7 m) | (5.9 m) | (1.6 m) |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 44.5 k |

## Financial Leverage | 1.9 x |

August 29, 2016

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