Hutchinson Technology Incorporated (HTCH) Releases Earnings Results, Misses Expectations By $-0.03 EPS

Hutchinson Technology Incorporated (HTCH) reported quarterly earnings results on Wednesday, Apr-27-2016. The company reported $-0.25 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $-0.22. The company posted revenue of $54.16 million in the period, compared to analysts expectations of $56.25 million. The company’s revenue was down -13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.

Hutchinson Technology Incorporated opened for trading at $3.66 and hit $3.68 on the upside on Friday, eventually ending the session at $3.67, with a gain of 0.27% or 0.01 points. The heightened volatility saw the trading volume jump to 2,49,678 shares. Company has a market cap of $124 M.

In a different news, on Feb 3, 2015, Russell Huffer (director) purchased 2,000 shares at $3.43 per share price. According to the SEC, on Feb 3, 2015, Thomas R Verhage (director) purchased 8,000 shares at $3.41 per share price.

Hutchinson Technology Incorporated is a global supplier of critical precision component technologies. The Company is engaged in manufacturing suspension assemblies for all sizes and types of hard disk drives. Suspension assemblies are components of disk drives that hold the read/write heads in position above the spinning magnetic disks. It manufactures its suspension assemblies with technology and processes with low part-to-part variation. 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. It sells its suspension assemblies to original equipment manufacturers.

Hutchinson Technology Incorporated

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