Hutchinson Technology Reports Preliminary First Quarter Results


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(PressMethod) - Results Improve on Sequential Quarter Shipment and Revenue Growth

Net Income Expected to Be Modestly Above Breakeven

HUTCHINSON, Minn., Jan. 11, 2010 (GLOBE NEWSWIRE) -- Hutchinson Technology Incorporated (Nasdaq:HTCH - News) today reported preliminary results for its fiscal 2010 first quarter ended December 27, 2009.

Net sales for the quarter totaled $108.3 million, compared with $103.2 million in the preceding quarter and $119.7 million in its fiscal 2009 first quarter. Gross profit increased sequentially to approximately $20 million, or 19 percent of net sales, due primarily to the increase in net sales. In the preceding quarter, gross profit totaled $17.5 million, or 17 percent of net sales.

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