Hutchinson Technology (HTCH: news, chart, profile) leapt nearly 10 percent after
the company said Tuesday that it expects to report a profit of 16 to 21 cents a
share, which includes a one-time increase to operating income totaling $2.6
million, or 8 cents a share. Analysts polled by Thomson Financial/First Call had
been expecting a loss. The company, which makes computer disk drive parts,
also said net sales for its fiscal first quarter, which ended December 30, 2001,
totaled approximately $93 million. The news gave a lift to a number of
Hutchinson's sector-mates, including Read-Rite (RDRT: news, chart, profile),
Western Digital (WDC: news, chart, profile), and Maxtor (MXO: news, chart,
profile). |
