Last $4.49 USD
Change Today -0.21 / -4.47%
Volume 590.1K
As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

hutchinson tech (HTCH) Key Developments

Hutchinson Technology Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 29, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014

Hutchinson Technology Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended June 29, 2014. For the quarter, the company reported net sales of $59.8 million on suspension assembly shipments of 97.5 million, down 4% from 101.7 million in the preceding quarter and compared to net sales of $61.3 million in second quarter of 2013. The company reported loss from operations of $7.4 million compared to $8.9 million, loss before income taxes of $11.2 million compared to $15.9 million, net loss of $11.2 million or $0.40 per diluted share compared to $15.9 million or $0.59 per diluted share, net loss – adjusted of $8.9 million or $0.32 per diluted share compared to $11.1 million or $0.41 per diluted share for the last year. Cash generated by operations totaled $500,000, and capital spending totaled $2.9 million, resulting in negative free cash flow of $2.4 million. For the nine months, the company reported net sales of $190.8 million $185.9 million, loss from operations of $22.1 million compared to $14.1 million, loss before income taxes of $36.0 million compared to $20.6 million, net loss of $35.3 million or $1.26 per diluted share compared to $20.5 million or $0.81 per diluted share, cash provided by operating activities of $0.3 million compared $3.1 million and capital expenditures of $13.4 million compared $15.1 million for the last year. The company expects fourth quarter gross margin and volume growth to increase compared to the third quarter as higher shipments and the benefits of cost reductions are partially offset by a reduction of finished goods inventories. Company’s tax rate is expected to be near 0 in fiscal 2014. Fiscal 2014 capital expenditures, which are primarily for customer specific-program tooling and DSA manufacturing equipment, should total about $20 million.

Hutchinson Technology Inc., Q3 2014 Earnings Call, Aug 01, 2014

Hutchinson Technology Inc., Q3 2014 Earnings Call, Aug 01, 2014

Hutchinson Technology Inc. to Report Q3, 2014 Results on Aug 01, 2014

Hutchinson Technology Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Aug 01, 2014

Hutchinson Technology Inc.(NasdaqGS:HTCH) dropped from Russell 2000 Index

Hutchinson Technology Inc. will be removed from the Russell 2000 Index.

Hutchinson Technology Inc.(NasdaqGS:HTCH) dropped from Russell 3000 Index

Hutchinson Technology Inc. will be removed from the Russell 3000 Index.

 

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