Hutchinson Technology (HTCH) Posts Narrower than Expected Q1 Loss
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Hutchinson Technology Reports First Quarter Results
January 28, 2015 7:00 AM ESTHUTCHINSON, Minn., Jan. 28, 2015 (GLOBE NEWSWIRE) -- Hutchinson Technology Incorporated (Nasdaq: HTCH) today reported a net loss of $9.9 million, or $0.32 per share, on net sales of $72.4 million for its fiscal 2015 first quarter ended December 28, 2014. The net loss included a $4.3 million loss on debt extinguishment, $860,000 of non-cash interest expense, $640,000 of foreign currency losses and $160,000 of site consolidation costs. Excluding these items, the company's net loss for the fiscal 2015 first quarter was $3.9 million, or $0.13 per share.
In the preceding quarter, the company reported a net loss of $5.2 million, or $0.18 per share, on net sales of $70.3 million. The... More
