<SEC-DOCUMENT>0001144204-11-013780.txt : 20110506
<SEC-HEADER>0001144204-11-013780.hdr.sgml : 20110506
<ACCEPTANCE-DATETIME>20110309165708
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-11-013780
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20110309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HURCO COMPANIES INC
		CENTRAL INDEX KEY:			0000315374
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				351150732
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ONE TECHNOLOGY WAY
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46268
		BUSINESS PHONE:		3172935309

	MAIL ADDRESS:	
		STREET 1:		ONE TECHNOLOGY WAY
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46268

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HURCO MANUFACTURING CO INC
		DATE OF NAME CHANGE:	19850324
</SEC-HEADER>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Jeff Jaramillo</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">100 F Street, N.E.</font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Re:</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form 10-K for year ended October 31, 2010</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File No. 000-09143</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dear Mr. Jaramillo:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This letter responds to your letter dated February 28, 2011, which included your comments with respect to the periodic report noted above.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For the sake of convenience, we have reproduced each comment below with our response following.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Note 11.&#160;&#160;Guarantees and Product Warranties, page 49</font></font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Comment:&#160;&#160;We noted from your tabular disclosure that your warranty accrual has decreased significantly from the beginning of fiscal 2008 to your accrual at the end of fiscal 2010.&#160;&#160;In addition, we noted your related warranty provision has fluctuated significantly. However, we did not see any related discussion explaining the reason for the fluctuations between periods.&#160;&#160;Please revise future filings to include a discussion of the significant change in your warranty provision and accrual so that investors may better understand the reasons for significant fluctuations.&#160;&#160;Please provide us with your proposed revised disclosure as part of your response.&#160;&#160;In this regard, please specifically tell us what factors caused your provision for warranties of $799 during 2009 to be significantly less than your provision for warranties
during 2008 and 2010 of $2,944 and $2,170, respectively.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Response:&#160;&#160;The factor primarily responsible for the decrease in the warranty accrual and provision from fiscal 2008 to fiscal 2009 is the decline in sales in fiscal 2009 as compared to fiscal 2008. &#160;Similarly, one of the factors for the increase in the warranty accrual and provision from fiscal 2009 to fiscal 2010 is due to the increase in sales in fiscal 2010 as compared to fiscal 2009.&#160;&#160; During fiscal 2010, we also introduced several new products and sold a higher mix of our higher performance machines that tend to have both a higher rate of warranty claim with a higher cost per claim.&#160; These factors, coupled with the increased production within a relatively short period of time, were considered when increasing the warranty accrual and provision during fiscal 2010.&#160;</font>
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<div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In future filings, when there has been a material fluctuation in the warranty accrual and provision from period to period, we will provide a more detailed disclosure of the reasons for the differences,&#160;similar to the explanation in the preceding paragraph for fiscal 2008-2010. &#160;</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Comment:&#160;&#160;Please tell us where you filed the proxy card.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Response:&#160;&#160;The omission of the proxy card from the definitive proxy materials filed on January 25, 2011, was inadvertent.&#160;&#160;We filed the proxy materials again on February 28, 2011 with a proxy card.&#160;&#160;The company is using the "full set delivery" and not the notice of internet access option.&#160;&#160;The company has confirmed that the printed proxy materials distributed to shareholders beginning on January 25, 2011 contained the proxy card.&#160;&#160;In addition, the proxy has been available on the company's website www.hurco.com on the Investors page under proxy materials.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Nominating and Governance Committee, page 11</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Comment:&#160;&#160;Please tell us, and revise future filings to disclose, whether, and if so how, your nominating and governance committee or board considers diversity in identifying nominees for directors, as required by Item 407(c)(2)(vi) of Regulation S-K</font>.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Response:&#160;&#160;Neither the Board of Directors nor the Nominating and Governance Committee currently has a policy with regard to the consideration of diversity in identifying nominees.&#160;&#160;In future filings, the company will disclose that it has no such policy or, if such a policy is adopted in the future, the company will disclose the policy and how it is implemented.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If I can be of assistance in answering any additional questions in connection with this response, please call me at (317) 298-2631 or in my absence, Sonja McClelland at (317)&#160;298-2610.</font></div>

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