May 8, 2008 -- Hardinge Inc., a leading international provider of advanced material-cutting solutions, today reported net sales of $85.6 million for the first quarter of 2008, a decrease of 2% compared to $87 million of net sales in the first quarter of 2007. The Company had a net loss of $0.7 million, compared to net income of $5.3 million in the 2007 first quarter. Orders for first quarter 2008 were $93.1 million, down 3% from $95.6 million in orders for first quarter 2007. Company results were negatively affected by significant changes in foreign currency exchange rates during the quarter. The identifiable unfavorable impact on net income was approximately $2.3 million.
Abstracted from PR Newswire
