Exhibit 99.1

NEWS
RELEASE

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

For more information contact:
Company:	Investor Relations:
Edward J. Gaio	Deborah K. Pawlowski, Kei Advisors LLC
Chief Financial Officer	Phone: (716) 843-3908
Phone: (607) 378-4207	Email: dpawlowski@keiadvisors.com

Hardinge Inc. Net Income Increased 17% to $3.6 Million
in the Second Quarter 2012 on Comparable Prior-Year Sales

· 2012 year-to-date net income improved 35% to $6.1 million on similar year over year sales

ELMIRA, N.Y., August 9, 2012 — Hardinge Inc. (NASDAQ: HDNG), a leading international provider of advanced metal-cutting solutions, reported financial results for its second quarter 2012.

Net sales (“sales”) were $86.3 million in the second quarter of 2012, down $0.3 million, or 0.4%, from sales of $86.7 million in the prior year’s second quarter. Compared with the prior-year quarter, foreign currency translation negatively impacted second quarter 2012 sales by approximately $2.1 million. When compared with the trailing first quarter of 2012, sales were up $11.7 million, or 16%, during the second quarter 2012.

Net income for the second quarter increased to $3.6 million, up $0.5 million when compared with the prior year’s second quarter. Compared with the trailing first quarter of 2012, net income grew $1.2 million, or 49%. On a per diluted share basis, earnings were $0.31 in the second quarter of 2012 compared with $0.27 in the same period in the prior year and $0.21 in the trailing first quarter of 2012.

Richard L. Simons, Chairman, President and Chief Executive Officer, commented, “Sales to Europe and North America remained stable in the quarter despite economic concerns. Sales to Asia remain challenged by tough comparatives with last year’s surge and a general slowing of growth in that region. Importantly, a favorable product mix resulted in measurable net income growth during the quarter.”

-MORE-

Sales Distribution More Balanced Among Geographic Regions

Sales by Region

	Quarter Ended
Sales to	June 30,				June 30,				March 31,
Customers in	2012		% of Total		2011		% Change		2012		% Change
North America	$	20,735	24	%	$	18,529	12	%	$	18,621	11	%
Europe	34,028		39	%	25,267		35	%	24,657		38	%
Asia	31,557		37	%	42,860		(26	)%	31,372		1	%
Total	$	86,320	100	%	$	86,656	0	%	$	74,650	16	%

North America sales, which represented 24% of total sales in the second quarter of 2012, increased by 12% compared with the second quarter of 2011. Sequentially, North America sales during the second quarter 2012 increased 11% when compared with the trailing first quarter of 2012. In Europe, second quarter sales grew 35% year-over-year and 38% compared with the trailing first quarter of 2012.

Solid sales to North America, both versus the prior year and the trailing quarter, reflect the strengthening of U.S. industrial production, while sales in Europe were focused primarily in Germany and the U.K. and were driven by demand for the Company’s specialty, high precision cylindrical grinding equipment.

Sales to Asia declined by 26% in the second quarter compared with the prior-year period. Last year’s second quarter included an additional $4.3 million in lower margin sales to a China-based supplier to the consumer electronics industry. Excluding this, sales to Asia declined 19% due to the slowing economic environment. Sales to Asia in the second quarter 2012 were essentially flat when compared with the trailing first quarter of 2012.

Fluctuations in Hardinge’s sales in total and 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.

Operating Performance

Gross profit was $24.0 million, or 27.8% of sales, in the 2012 second quarter compared with $23.3 million, or 26.9% of sales, in the same period of the prior year, and gross profit of $21.2 million, or 28.4% of sales, in the trailing first quarter of 2012. Changes in gross margin when compared with the prior-year period were related to product mix.

Selling, general and administrative (“SG&A”) expenses in the 2012 second quarter were relatively unchanged at $19.1 million, or 22.1% of sales, in the 2012 second quarter compared with $19.0 million, or 21.9% of sales, in the prior year’s second quarter. Compared with the trailing first quarter of 2012, SG&A as a percent of sales decreased by 150 basis points as a result of leveraging higher sales levels.

Income from operations in the second quarter of 2012 was $4.8 million, up 11%, from $4.4 million over the prior year’s second quarter. As a percentage of sales, income from operations was 5.6%, a

60 basis point improvement over the same period of the prior year. Operating margin improved 110 basis points over the trailing first quarter as a result of leverage on higher volume.

Earnings before interest, taxes, depreciation and amortization (EBITDA) grew 6.3% to $6.8 million, or 7.8% of sales, in the 2012 second quarter compared with $6.4 million, or 7.3% of sales, in the same period of the prior year and $5.1 million, or 6.9% of sales, in the trailing first quarter of 2012. The Company believes that, when used in conjunction with GAAP measures, EBITDA, which is a non-GAAP measure, helps in the understanding of the Company’s operating performance. (See the attached table for a Reconciliation of Net Income to EBITDA and other important information regarding Hardinge’s use and presentation of EBITDA).

First Half 2012 Review

For the six-month period ended June 30, 2012, net sales were $161.0 million, relatively unchanged from the prior-year period as improved demand in North America and Europe offset the decline in sales in Asia. Foreign currency translation negatively impacted sales in the first half of 2012 by approximately $1.3 million when compared with the prior-year period. Gross profit for the 2012 first half improved $2.9 million to $45.2 million. As a percentage of sales, gross profit margin expanded 160 basis points primarily as a result of product mix. Selling, general and administrative expense for the first six months was up $1.0 million, or 3%, to $36.7 million when compared with the same period a year ago.

Income from operations was $8.2 million in the first half of 2012, up 24% over the prior-year period. Operating margin expanded 100 basis points to 5.1% for the first half of 2012. Net income was up 35% to $6.1 million for the first six months of 2012 compared with $4.5 million for the first half of 2011. Earnings per diluted share grew 33% to $0.52 in the first half of 2012 from $0.39 for the same period last year.

Strong Balance Sheet

Cash provided by operations in the second quarter was $3.9 million, compared with cash used by operations of $3.5 million during the same period of the prior year. The improvement in operating cash flow was primarily driven by a reduction in working capital requirements.

Cash and cash equivalents at June 30, 2012 were $16.1 million compared with $21.7 million at December 31, 2011. Capital expenditures in the second quarter of 2012 were $3.2 million. Capital expenditures in fiscal 2012 are expected to be approximately $8 million to $9 million of which approximately $4 million to $5 million is for general maintenance purposes and the remainder is related to expansion capital requirements. The Company has nearly completed the new facilities in Switzerland and China which will provide increased capacity and improved operational efficiencies.

Net Orders by Region

	Quarter Ended
Orders from	June 30,				June 30,				March 31,
Customers in	2012		% of Total		2011		% Change		2012		% Change
North America	$	19,960	25	%	$	29,403	(32	)%	$	20,699	(4	)%
Europe	32,489		40	%	34,338		(5	)%	29,796		9	%
Asia	27,893		35	%	44,404		(37	)%	30,867		(10	)%
Total	$	80,342	100	%	$	108,145	(26	)%	$	81,362	(1	)%

Net orders (“orders”) during the quarter were $80.3 million, a decrease of $27.8 million, or 26%, when compared with the prior-year quarter. Declines were most notably in Asia and North America as industrial growth appears to be slowing. Sequentially, orders were down just 1% from the trailing first quarter of 2012 as orders from Europe offset declines in Asia and North America. The Company’s order backlog at the end of the quarter was $139 million, down from $174 million the same time last year and down from $149 million at the end of the first quarter. The majority of backlog is expected to ship in 2012.

Outlook

Mr. Simons noted, “The long-term outlook for machine tool demand remains promising. Nonetheless, the fragility of the global economy and the uncertainty that surrounds it would appear to be tempering near-term demand. Order activity continues to be around the $80 million level per quarter, which implies a softer sales level for 2012 than we had originally anticipated.”

Mr. Simons concluded, “Based on our current backlog, we expect sales in the third quarter to be similar to the second quarter. We continue to believe we will have a stronger operating margin mix of business and be able to leverage our operations to drive earnings.”

Webcast and Conference Call

Hardinge will host a conference call and webcast today at 11:00 a.m. Eastern Time. During the conference call and webcast, Richard L. Simons, Chairman, President and CEO, and Edward J. Gaio, Vice President and CFO, will review the financial and operating results for the quarter, as well as the Company’s strategy and outlook. A question and answer session will follow the formal discussion. Their review will be accompanied by a slide presentation which will be available on Hardinge’s website at www.hardinge.com.

The conference call can be accessed by dialing (201) 689-8560. The listen-only audio webcast can be monitored at www.hardinge.com.

A telephonic replay will be available from 2:00 p.m. ET the day of the call through Thursday, August 16, 2012. To listen to the archived call, dial (858) 384-5517 and enter conference ID number 396209. Alternatively, the archive can be heard on the Company’s website at www.hardinge.com. A transcript will also be posted to the website, once available.

About Hardinge

Hardinge is a leading global designer and manufacturer of high precision, computer-controlled machine tool solutions developed for critical, hard to machine metal parts. The Company’s strategy is to leverage its global brand strength to further penetrate global market opportunities where customers will benefit from the technologically advanced, high quality, reliable equipment Hardinge produces. With approximately 75% of its sales outside the U.S., Hardinge serves the worldwide metal working market. Hardinge’s machine tool solutions can also be found in a broad base of industries to include aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology and transportation.

Hardinge applies its engineering design and manufacturing expertise in high performance machining centers, high-end cylindrical and jig grinding machines, SUPER-PRECISION® and precision CNC lathes and

technologically advanced workholding accessories. Hardinge has manufacturing operations in China, Switzerland, Taiwan, the United Kingdom and the United States.

The Company regularly posts information on its website: http://www.hardinge.com

Safe Harbor Statement

This news release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Such statements are based on management’s current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as “may,” “will,” “should,” “estimates,” “predicts,” “potential,” “continue,” “strategy,” “believes,” “anticipates,” “plans,” “expects,” “intends,” and similar expressions are intended to identify forward-looking statements. The Company’s actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

FINANCIAL TABLES FOLLOW.

HARDINGE INC. AND SUBSIDIARIES

Consolidated Statements of Operations

(in thousands, except per share data)

	Quarter Ended						Year to Date Ended
	June 30, (unaudited)						June 30, (unaudited)
	2012			2011			2012			2011

Net sales	$	86,320		$	86,656		$	160,970		$	160,138
Cost of sales	62,314			63,353			115,741			117,759
Gross profit	24,006			23,303			45,229			42,379
Gross profit margin	27.8		%	26.9		%	28.1		%	26.5		%

Selling, general and administrative expenses	19,081			18,993			36,714			35,666
(Gain) loss on sale of assets	(12		)	7			(14		)	(18		)
Other expense (Income)	99			(72		)	303			105
Income from operations	4,838			4,375			8,226			6,626
Operating margin	5.6		%	5.0		%	5.1		%	4.1		%

Interest expense	269			93			409			171
Interest income	(27		)	(48		)	(51		)	(87		)
Income before income taxes	4,596			4,330			7,868			6,542

Income tax expense	956			1,217			1,785			2,048
Net income	$	3,640		$	3,113		$	6,083		$	4,494

Basic and diluted earnings per share	$	0.31		$	0.27		$	0.52		$	0.39

Cash dividends declared per share	$	0.02		$	0.005		$	0.04		$	0.01

Weighted avg. shares outstanding: Basic	11,562			11,467			11,543			11,459
Weighted avg. shares outstanding: Diluted	11,600			11,495			11,578			11,486

HARDINGE INC. AND SUBSIDIARIES

Consolidated Balance Sheets

(in thousands, except share and per share data)

	June 30,			December 31,
	2012 (unaudited)			2011
Assets
Cash and cash equivalents	$	16,149		$	21,736
Restricted cash	4,627			4,575
Accounts receivable, net	54,287			65,909
Inventories, net	133,246			122,782
Other current assets	14,065			13,338
Total current assets	222,374			228,340

Property, plant and equipment, net	70,251			68,204
Intangible assets, net	12,507			12,765
Other non-current assets	2,402			2,360
Total non-current assets	85,160			83,329
Total assets	$	307,534		$	311,669

Liabilities and shareholders’ equity
Accounts payable	$	34,274		$	36,952
Notes payable to bank	13,020			12,969
Accrued expenses	27,114			25,103
Customer deposits	16,392			18,881
Accrued income taxes	2,278			3,480
Deferred income taxes	2,620			2,556
Current portion of long-term debt	2,493			1,548
Total current liabilities	98,191			101,489

Long-term debt	6,072			7,020
Pension and postretirement liabilities	43,294			49,310
Deferred income taxes	2,999			2,391
Other liabilities	3,432			4,436
Total non-current liabilities	55,797			63,157

Common stock ($0.01 par value, 12,472,992 issued)	125			125
Additional paid-in capital	114,254			114,369
Retained earnings	70,657			65,041
Treasury shares	(9,934		)	(10,379		)
Accumulated other comprehensive loss	(21,556		)	(22,133		)
Total shareholders’ equity	153,546			147,023
Total liabilities and shareholders’ equity	$	307,534		$	311,669

HARDINGE INC. AND SUBSIDIARIES

Consolidated Statements Of Cash Flows

(in thousands)

	Quarter Ended June 30, (unaudited)						Year to Date Ended June 30, (unaudited)
	2012			2011			2012			2011
Operating activities
Net income	$	3,640		$	3,113		$	6,083		$	4,494
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,915			1,980			3,658			3,896
Debt issuance amortization	16			26			32			52
Provision for deferred income taxes	20			(187		)	1,001			(1,272		)
(Gain) loss on sale of assets	(12		)	7			(14		)	(18		)
Unrealized intercompany foreign currency transaction (gain)loss	(137		)	614			290			399
Changes in operating assets and liabilities:
Accounts receivable	(2,423		)	(11,369		)	11,685			(13,677		)
Inventories	(2,139		)	(2,926		)	(10,586		)	(12,237		)
Other assets	(245		)	(1,492		)	(540		)	(2,571		)
Accounts payable	2,658			3,276			(2,906		)	4,357
Customer deposits	(3,075		)	943			(2,399		)	6,008
Accrued expenses	3,773			2,994			(5,732		)	317
Accrued postretirement benefits	(134		)	(463		)	(258		)	(287		)
Net cash provided by (used in) operating activities	3,857			(3,484		)	314			(10,539		)

Investing activities
Capital expenditures	(3,251		)	(4,648		)	(5,364		)	(9,002		)
Proceeds on sale of assets	22			839			22			864
Net cash used in investing activities	(3,229		)	(3,809		)	(5,342		)	(8,138		)

Financing activities
(Repayments of) proceeds from short-term notes payable to bank	(5,730		)	612			(142		)	5,992
(Repayments of) proceeds from long-term debt	(314		)	(155		)	10			(309		)
Dividends paid	(232		)	(58		)	(465		)	(116		)
Other financing activities	22			27			9			47
Net cash (used in) provided by financing activities	(6,254		)	426			(588		)	5,614

Effect of exchange rate changes on cash	(431		)	623			29			819
Net decrease in cash	(6,057		)	(6,244		)	(5,587		)	(12,244		)
Cash and cash equivalents at beginning of year	22,206			24,945			21,736			30,945
Cash and cash equivalents at end of year	$	16,149		$	18,701		$	16,149		$	18,701

HARDINGE INC. AND SUBSIDIARIES

Reconciliation of Net Income to EBITDA

(in thousands)

The following table provides a reconciliation of the Company’s reported net income to EBITDA for the second quarter and year to date ended June 30, 2012 and 2011, respectively:

	Quarter Ended							Year to Date Ended
	June 30,							June 30,
	2012		2011		$ Change			2012		2011		$ Change

GAAP net income	$	3,640	$	3,113	$	527		$	6,083	$	4,494	$	1,589

Plus: Interest expense, net	242		45		197			358		84		274

Income tax expense	956		1,217		(261		)	1,785		2,048		(263		)

Depreciation and amortization	1,915		1,980		(65		)	3,658		3,896		(238		)

EBITDA (1)	$	6,753	$	6,355	$	398		$	11,884	$	10,522	$	1,362

(1) EBITDA, a non-GAAP financial measure, is defined as earnings before interest, taxes, depreciation and amortization. EBITDA is used by management to internally measure our operating and management performance and by investors as a supplemental financial measure to evaluate the performance of our business. We believe that monitoring EBITDA along with our GAAP results and the accompanying reconciliation provides additional information that is useful to gain an understanding of the factors and trends affecting our business.