Hutchinson Technology (HTCH) Misses Q2 EPS by 3c
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Hutchinson Technology Reports Second Quarter Results
April 27, 2016 4:01 PM EDTHUTCHINSON, Minn., April 27, 2016 (GLOBE NEWSWIRE) -- Hutchinson Technology Incorporated (NASDAQ: HTCH) (HTI) today reported net sales of $54.2 million for its fiscal 2016 second quarter ended March 27, 2016. Â Suspension assembly shipments for the quarter totaled 85.4 million compared with 106.6 million in the preceding quarter. Â Rick Penn, Hutchinson Technologys president and chief executive officer, said that shipments were at the low end of the companys expectations for the March quarter, which is typically a seasonally slower period for the disk drive industry and its suppliers.
Gross profit in the fiscal 2016 second quarter totaled $5.7 million, or 10.5% of net... More
