Hutchinson Technology (HTCH) Tops Q3 EPS by 1c

Hutchinson Technology (NASDAQ: HTCH) reported Q3 EPS of ($0.30), $0.01 better than the analyst estimate of ($0.31). Revenue for the quarter came in at $54.7 million versus the consensus estimate of $54.88 million.

"We have managed through two challenging quarters and now expect our suspension assembly shipments to increase due to strengthening disk drive demand, our high level of development activity with customers and our expanding program wins across the disk drive segments," said Penn. "In addition, we continue to be excited about the growth potential for OIS as we introduce our new SMA OIS actuator that offers size and performance benefits to prospective customers while substantially lowering our capital and manufacturing costs."

For earnings history and earnings-related data on Hutchinson Technology (HTCH) click here.

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