Hutchinson Technology, Inc. (HTCH) Misses Q4 EPS by 16c
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Hutchinson Technology, Inc. (NASDAQ: HTCH) reported Q4 EPS of ($0.31), $0.16 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $74.4 million versus the consensus estimate of $77.35 million.
As previously announced, severe flooding in Thailand required the company to suspend assembly operations at its Thailand facility in early October. "Our sympathies are with our employees in Thailand, whose lives have been deeply impacted by this disaster," said Wayne M. Fortun, Hutchinson Technology's president and chief executive officer. "Although we believe it will take multiple quarters, we fully intend to resume operations in Thailand. Our operation in Thailand was meeting or exceeding our expectations for volume, quality and costs and remains integral to enabling us to become the industry's lowest cost producer of suspension assemblies."
As previously announced, severe flooding in Thailand required the company to suspend assembly operations at its Thailand facility in early October. "Our sympathies are with our employees in Thailand, whose lives have been deeply impacted by this disaster," said Wayne M. Fortun, Hutchinson Technology's president and chief executive officer. "Although we believe it will take multiple quarters, we fully intend to resume operations in Thailand. Our operation in Thailand was meeting or exceeding our expectations for volume, quality and costs and remains integral to enabling us to become the industry's lowest cost producer of suspension assemblies."
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