Last €1.89 EUR
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06/14/13 - €4.78
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hutchinson tech (HTH) Details

Hutchinson Technology Incorporated researches, designs, develops, manufactures, and supplies suspension assemblies for hard disk drives. The company’s suspension assemblies are components in computers, and various consumer electronics and enterprise storage products. It also offers disk drive industry-related engineering services and specific disk drive program capacity, and biomeasurement products. The company sells its suspension assemblies to original equipment manufacturers and subassemblers. It operates in Thailand, Hong Kong, the Philippines, Malaysia, the United States, and internationally. The company was founded in 1965 and is headquartered in Hutchinson, Minnesota.

2,436 Employees
Last Reported Date: 12/11/13
Founded in 1965

hutchinson tech (HTH) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $385.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $256.9K
Vice President of Operations
Total Annual Compensation: $163.6K
Chief Technical Officer and Vice President
Total Annual Compensation: $298.1K
Vice President of Human Resources
Total Annual Compensation: $169.7K
Compensation as of Fiscal Year 2013.

hutchinson tech (HTH) Key Developments

Hutchinson Technology Incorporated Announces Executive Changes

Hutchinson Technology Incorporated announced that it has appointed Mark Jelkin as the company's vice president of engineering. In this position Jelkin will be responsible for setting technology strategy, overseeing product and process development, and directing the company's global engineering functions. The company also announced that its Chief Technology Officer Scott Schaefer will retire effective June 7, 2014, after 35 years with the company. Jelkin joined Hutchinson Technology in 1988 and has held a variety of engineering leadership positions. He has been the company's director of engineering and program development since 2006.

Hutchinson Technology Incorporated Reports Earnings Results for the First Quarter Ended December 29, 2013

Hutchinson Technology Incorporated reported earnings results for the first quarter ended December 29, 2013. For the quarter, the company's net loss was $15.35 million, or $0.55 loss per share, compared to a net loss of $6.52 million, or $0.27 loss per share, for the same quarter ended December 30, 2012. Net sales for the quarter were $70.31 million, compared to $63.70 million for the same quarter ended December 30, 2012. Loss from operations for the quarter was $9.34 million, compared to a loss from operations of $3.10 million for the same quarter ended December 30, 2012.

Hutchinson Technology Inc. Provides Earnings Guidance for Second Quarter and Capital Expenditures Guidance for Full Year of Fiscal Year 2014

Hutchinson Technology Inc. provided earnings guidance for second quarter and capital expenditures guidance for full year of fiscal year 2014. For the second quarter, the company expects gross margin percentage to be similar to first quarter gross margin. While expecting lower shipments and revenues, expect to realize further improvements in yields and efficiencies and currently plan to build inventory ahead of further product transfers to Thailand. For fiscal 2014, capital expenditures should total about $20 million to $25 million and are expected to be slightly front-end loaded within the year. The expenditures will be primarily for customer specific program tooling and DSA manufacturing equipment.


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