Hutchinson Technology Incorporated supplies suspension assemblies for hard disk drives. The company categorizes its products as either suspension assemblies or other revenue, which consists primarily of revenue outside of the disk drive industry for precision component manufacturing, tool design, tool build and metrology, suspension assembly components, reimbursement for disk drive industry-related engineering services and specific disk drive program capacity and biomeasurement products. During 2013, the company shipped 404 million suspension assemblies. The company shipped TSA+ and TSA suspension assemblies, as well as suspensions using purchased additive flexures to its customers. The company has the capability to produce multiple variations of suspension assemblies. It has developed significant proprietary capabilities in the design and production of suspension assemblies for both current and new generations of higher performance disk drives and read/write heads. The company enters into arrangements with customers to be reimbursed for disk drive industry-related engineering services and specific program capacity. It recognizes the associated revenue over the estimated life of the program to which the services and capacity relate. Research and Development For the year ended September 29, 2013, the company’s research and development expenses included $14,621,000. Customers and Marketing The company’s disk drive products are sold principally through its account management team operating primarily from its headquarters in Hutchinson, Minnesota. It sells its suspension assemblies to original equipment manufacturers for use in their products and to subassemblers who sell to original equipment manufacturers. Its customers include Western Digital Corporation; SAE Magnetics, Ltd./TDK Corporation; Seagate Technology, LLC; and Hitachi Global Storage Technologies. Intellectual Property As of September 29, 2013, the company held 202 United States patents and 24 foreign patents, and had 26 patent applications pending in the United States and 14 patent applications pending in other countries. Competition The company’s principal competitors include Nihon Hatsujo Kabusikigaisha, Magnecomp Precision Technology Public Company Limited, NAT Peripheral (H.K.) Co., Ltd., Nitto Denko Corporation, and Dai Nippon Corporation. History Hutchinson Technology Incorporated was founded in 1965. The company was incorporated in Minnesota in 1965.
hutchinson tech (HTCH:NASDAQ GS)
40 West Highland Park Drive NE
Hutchinson, MN 55350
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