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Hardinge Inc (HDNG) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Hardinge Inc

CIK: 313716 Ticker: HDNG
Exhibit 99.1

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NEWS
RELEASE

Hardinge Inc. One Hardinge Drive, Elmira, N.Y. 14903


Hardinge Reports Fourth Quarter and Full Year 2017 Results

Sales increased 4% to $90.2 million in the quarter, driven by growth in Asia & Europe; Sales for the year were $317.9 million, up 9% over 2016
Quarterly net income was $3.2 million with earnings per diluted share of $0.24; Full year net income was $5.8 million with earnings per diluted share of $0.45
Generated cash from operations of $25.1 million in 2017 compared with $5.3 million in 2016
ELMIRA, N.Y., February 15, 2018 - Hardinge Inc. (NASDAQ: HDNG), a leading international provider of advanced metal-cutting solutions and accessories, reported financial results for its fourth quarter and year ended December 31, 2017.

Sales, Orders and Backlog for the Quarter and Full Year
(Please refer to the Sales and Orders tables included in this release)
North America: Sales of $28.7 million in the quarter were down 4% from the prior-year quarter. Orders for the region were $23.6 million, a decrease of 7% from the prior-year quarter, primarily due to the reorganization of our North America go-to-market approach.
For the full year, stronger economic conditions led sales in North America to increase 8% to $99.9 million. Orders decreased 4% to $97.4 million.
Europe: Sales in Europe increased 7%, or $1.9 million, over the prior-year quarter to $29.0 million. Orders of $26.7 million were down 5% from the prior-year quarter. Excluding favorable foreign currency exchange of $1.5 million and $1.2 million on sales and orders, respectively, sales were up 2% and orders declined 10% compared with the prior-year quarter.
For the full year, sales to Europe were unchanged. Excluding favorable foreign currency exchange of $0.8 million, sales to Europe decreased 1%. Orders increased 10% over the prior-year. Excluding favorable foreign currency translation of $0.1 million, orders increased 9%.
Asia: Asia sales increased $2.5 million, or 8%, to $32.5 million, over the prior-year’s fourth quarter. Excluding favorable foreign currency translation of $1.0 million, sales increased 5% over the prior-year period. Orders of $33.5 million decreased $3.3 million, or 9%, compared with the same period in the prior-year, mostly due to a large order in the prior-year quarter which was not repeated in the current year. Excluding favorable foreign currency translation of $0.9 million, orders were down 11% year over year.

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The following information was filed by Hardinge Inc (HDNG) on Thursday, February 15, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts (details)
Schedule Ii - Valuation And Qualifying Accounts (notes)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (loss) Income
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity Statement
(loss) Earnings Per Share (details)
(loss) Earnings Per Share (tables)
Changes In Accumulated Other Comprehensive Loss
Changes In Accumulated Other Comprehensive Loss (details 2)
Changes In Accumulated Other Comprehensive Loss (details)
Changes In Accumulated Other Comprehensive Loss (tables)
Commitments And Contingencies
Commitments And Contingencies (details 1)
Commitments And Contingencies (details 2)
Commitments And Contingencies (details)
Commitments And Contingencies Commitments And Contingencies (tables)
Derivative Instruments
Derivative Instruments (details)
Earnings (loss) Per Share
Employee Benefits
Employee Benefits (details 2)
Employee Benefits (details 3)
Employee Benefits (details 4)
Employee Benefits (details 5)
Employee Benefits (details 6)
Employee Benefits (details Textual)
Employee Benefits (details)
Employee Benefits (tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (details 2)
Fair Value Of Financial Instruments (details 3)
Fair Value Of Financial Instruments (details 5)
Fair Value Of Financial Instruments (details)
Fair Value Of Financial Instruments (tables)
Financing Arrangements
Financing Arrangements (details 2)
Financing Arrangements (details 3)
Financing Arrangements (details)
Financing Arrangements (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details 2)
Goodwill And Intangible Assets (details 3)
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details 5)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Inventories
Inventories (details)
Inventories (tables)
New Accounting Standards
New Accounting Standards (details)
Property, Plant And Equipment
Property, Plant And Equipment (details)
Property, Plant And Equipment (tables)
Restrucutring Charges
Restrucutring Charges (cost Incurred And Expected To Be Incurred) (details)
Restrucutring Charges (details)
Restrucutring Charges (restructuring Reserve) (details)
Restrucutring Charges (tables)
Segment Information
Segment Information (details 2)
Segment Information (details)
Segment Information (tables)
Selected Quarterly Financial Information (unaudited)
Selected Quarterly Financial Information (unaudited) (details)
Selected Quarterly Financial Information (unaudited) (tables)
Shareholders' Equity
Shareholders' Equity (details Textual)
Shareholders' Equity (details)
Shareholders' Equity (tables)
Significant Accounting Policies And Basis Of Presentation
Significant Accounting Policies And Basis Of Presentation (details 1)
Significant Accounting Policies And Basis Of Presentation (details)
Significant Accounting Policies And Basis Of Presentation (policies)
Significant Accounting Policies And Basis Of Presentation (tables)
Stock Based Compensation
Stock Based Compensation (details 2)
Stock Based Compensation (details 3)
Stock Based Compensation (details 4)
Stock Based Compensation (details Textual)
Stock Based Compensation (details)
Stock Based Compensation (tables)
Subsequent Event
Subsequent Event (details)
Warranties
Warranties (details)
Warranties (tables)
Ticker: HDNG
CIK: 313716
Form Type: 10-K Annual Report
Accession Number: 0000313716-18-000028
Submitted to the SEC: Fri Mar 09 2018 9:52:43 AM EST
Accepted by the SEC: Fri Mar 09 2018
Period: Sunday, December 31, 2017
Industry: Machine Tools Metal Cutting Types

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