Hutchinson Technology (HTCH) Tops Q1 EPS by 10c
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Hutchinson Technology Reports First Quarter Results
January 25, 2016 8:30 AM ESTHUTCHINSON, Minn., Jan. 25, 2016 (GLOBE NEWSWIRE) -- Hutchinson Technology Incorporated (NASDAQ: HTCH) today reported net sales of $63.9 million for its fiscal 2016 first quarter ended December 27, 2015. Â Suspension assembly shipments for the quarter totaled 106.6 million, compared with 105.4 million in the preceding quarter.
Gross profit in the fiscal 2016 first quarter totaled $11.7 million, or 18.3% of net sales, up from $7.5 million, or 11.8% of net sales, in the preceding quarter. Â Rick Penn, Hutchinson Technologys president and chief executive officer, said that shipments were within the companys expectations even as demand weakened near the end of the... More
