In addition, through our wholly-owned subsidiary LCM Precision Technology S.r.l. (" Two models are available, one with a rotary table and one with a plain table. There are six models in two sizes. Customers can choose models with X-axis (horizontal) travels of 25, 30, 40, or 50 inches. PV machines are available in two sizes with X-axis travels of either 26 or 41 inches. The UB's double-column design provides a spacious X-axis travel of 126 inches. Finally, a new line of high velocity horizontal machining centers was introduced. We have manufactured and sold the Autobend® product line since 1968. Each international division packages the options as appropriate for its market. There can be no assurance that our hedges will have their intended effects. &# In December 2017, the U.S. passed the Tax Cuts and Jobs Act. Prior to that, Mr. Volovic was employed by Unisys Corporation. We funded these expenditures with cash flows from operations. Upon shipment of a machine, the customer assumes the risk of ownership. The customer does not obtain title, however, until the customer has paid for the machine. Significant changes in those laws could materially affect these estimates. Tax law is complex and often subject to varied interpretations. Income and expenses are translated at the average exchange rates during the year. We perform credit evaluations of the financial condition of our customers. No collateral is required for sales made on open account terms. Expected future product warranty claims are recorded to expense when the product is sold. We sell software products that are essential to our machine tools. See Note 1 of these Notes to Consolidated Financial Statements for further information. SEGMENT INFORMATIONWe operate in a single segment: industrial automation equipment. This standard also requires certain disclosures about stranded tax effects. 8203;In March 2020, FASB issued ASU No. Special Meetings6Section 9. Powers and Duties of Officers8Section 6. Vice Presidents8Section 9. Payments a Business Expense13ARTICLE VII Shares13Section 1. Lost, Destroyed and Mutilated Certificates13Section 6. Payment for Shares14Section 8. Place of Keeping Certain Corporate Books and Records14Section 3. The name of the Corporation is HURCO COMPANIES, INC. ( Place of Meetings and Participation in Meetings by Remote Communication . Notice of Shareholder Nominees . He shall preside at meetings of the shareholders and of the Board of Directors. Shareholder Rights of Inspection . Oral notice is effective when communicated. As of December 31, 2019, the Company had 6,770,233 shares of Common Stock outstanding. I have reviewed this annual report on Form 10-K of Hurco Companies, Inc.;2. 1110 4444 8 M6N_\\A70_^OH_^@UNUA:[_P A70_^OH_^@UNT %%%% ! -^?6K5%%=2T@D 8D(0R?PX&#C M\'2@#?UW_ )"NA_\\ 7T?_ 1110 4444 %%%% &%KO_(5T/_KZ/_H- M;M86N_\\ (5T/_KZ/_H-;M ! AJ/^$4L/\\ GM_^!#5NT4 87_"*6\'_ #VO M?_ D[E_V21VI_BO6+-=#\\(\';IY1;WRPW%]Y M4+RD6T*JQ!5 6PS[%SCUKM_%?A73O&.B/II. lt;/i>We design, manufacture, and sell computerized machine tools.
