Last10K.com

Hardinge Inc (HDNG) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Hardinge Inc

CIK: 313716 Ticker: HDNG
Exhibit 99.1

image0a02.jpg
NEWS
RELEASE

Hardinge Inc. One Hardinge Drive, Elmira, N.Y. 14902




Hardinge Reports Fourth Quarter and Full Year 2016 Results

ELMIRA, N.Y., February 9, 2017 - 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, 2016.

Orders for the fourth quarter increased 22% to $90.4 million compared with the prior-year period on strength in all regions: Europe up 37%, Asia up 26% and North America up 4%
Sales for the quarter were $86.8 million and demonstrated a measurable improvement over the previous three quarters of 2016
Net income for the quarter was $3.7 million, or $0.29 per diluted share; Non-GAAP(1) adjusted net income was $4.1 million, or $0.31 per diluted share

Richard L. Simons, President and Chief Executive Officer, commented, “We ended 2016 in a much better position than where we started. Market conditions are improving with the order trend in the second half of 2016 healthier than the first half. The restructuring program we worked on most of the year has also proven successful. It was accomplished on time and on budget and, importantly, is achieving our cost reduction goals.”
He concluded, “Based on our strong backlog and favorable outlook, we expect sales to moderately improve in 2017. Additionally, we are confident that the effects of our restructuring program will be demonstrated in our financial results.”
(1) Management believes that the use of non-GAAP financial measures help in the understanding of the Company's operating performance. See pages 9 and 10 of this release for the reconciliation tables between reported amounts and non-GAAP measures discussed in this document.

-MORE-

The following information was filed by Hardinge Inc (HDNG) on Thursday, February 9, 2017 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.

View differences made from one year to another to evaluate Hardinge Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Hardinge Inc.

Continue

Assess how Hardinge Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Hardinge Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

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)
Acquisitions
Acquisitions (details)
Acquisitions (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)
Financing Arrangements Financing Arrangements (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details 2)
Goodwill And Intangible Assets (details 3)
Goodwill And Intangible Assets (details 4)
Goodwill And Intangible Assets (details 5)
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 Textual)
Stock Based Compensation (details)
Stock Based Compensation (tables)
Warranties
Warranties (details)
Warranties (tables)
Ticker: HDNG
CIK: 313716
Form Type: 10-K Annual Report
Accession Number: 0000313716-17-000043
Submitted to the SEC: Fri Mar 03 2017 12:13:27 PM EST
Accepted by the SEC: Fri Mar 03 2017
Period: Saturday, December 31, 2016
Industry: Machine Tools Metal Cutting Types

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/hdng/0000313716-17-000043.htm