Hardinge Inc (HDNG) 10-K Annual Report March 2015



For more information contact:

Company:	Investor Relations:
Douglas J. Malone Chief Financial Officer Phone: (607) 378-4140	Deborah K. Pawlowski, Kei Advisors LLC Phone: (716) 843-3908 Email: dpawlowski@keiadvisors.com

Hardinge Reports Fourth Quarter 2014 Results

ELMIRA, N.Y., February 12, 2015 - 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, 2014.

Net sales (“sales”) for the quarter were $93.0 million, and net income was $4.5 million, or $0.35 per diluted share. Orders for the quarter increased 28% to $94.4 million, compared with $73.9 million in the prior-year period.

Richard L. Simons, Chairman, President and Chief Executive Officer, commented, “We finished the year on a strong note, demonstrating our team’s ability to execute, as fourth quarter sales slightly exceeded our guidance range. Compared with the trailing third quarter, we realized significant sales growth in all geographic regions. Europe and Asia each grew over 40% and the U.S. was up nearly 20%. Our orders for the quarter and the year were significantly higher than what we had experienced in the last few years. In fact, fourth quarter orders were at the highest level we have achieved since the second quarter of 2011."



Quarterly Sales by Region ($ in thousands)
	Quarter Ended
	December 31, 2014		December 31, 2013		September 30, 2014
Sales to Customers in	$	% of Total	$	Year-over-Year % Change	$	Sequential % Change
North America	28,636	31%	36,473	(21)%	24,026	19%
Europe	31,102	33%	28,867	8%	21,286	46%
Asia	33,270	36%	37,761	(12)%	23,612	41%
Total	93,008		103,101	(10)%	68,924	35%

____________________

Note: Fluctuations in Hardinge’s consolidated sales among geographic locations and industries can vary from quarter to quarter based on the timing and magnitude of orders and projects. Hardinge does not believe that such quarter-to-quarter fluctuations are necessarily indicative of larger business trends. Rather, the Company believes that such business trends can be discerned from the Company’s performance during a longer period of time, such as a trailing twelve-month period.

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The following information was filed by Hardinge Inc (HDNG) on Thursday, February 12, 2015 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Hardinge Inc provided additional information to their SEC Filing as exhibits

Exhibit 3.1: Articles Of Incorporation

Exhibit 10.15: Material Contract

Exhibit 10.34: Material Contract

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: HDNG
CIK: 313716
Form Type: 10-K Annual Report
Accession Number: 0000313716-15-000010
Submitted to the SEC: Thu Mar 12 2015 2:53:11 PM EST
Accepted by the SEC: Thu Mar 12 2015
Period: Wednesday, December 31, 2014
Industry: Machine Tools Metal Cutting Types