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Technology Stocks : Hutchinson Technology, Inc.

HTCH 4.000

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Oct 6 5:00 PM EST

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From: Ron M	12/5/2002 3:17:25 PM
	of 1487

An article from the local Hutchinson, MN paper, just in case anyone still has this subject marked. hutchinsonleader.com An excerpt follows: "It's been several years since HTI has hired permanent manufacturing operators. But last week's orientation is a positive sign that the company is doing well following a menacing 2 1/2 year slump during which more than half of HTI's work force was laid off. ...... The company's most recent quarterly earnings report is proof of Fortun's new optimism. For the first time in more than three years, HTI, the world's largest supplier of suspension assemblies for computer disk drives, reported four consecutive quarters of profits. It increased its market share from 50 percent in 2001 to 60 percent by the end of the fiscal year in September. Today, that share is closer to 65 percent. "Our shipment volumes increased steadily in each quarter this year despite an industry-wide decline in suspension assembly demand compared to the prior year," Fortun told financial analysts several weeks ago. In fiscal 2001, HTI lost more than $56 million on net sales of $401 million. In fiscal 2002, the company was on the upswing. It reported a net profit of $15 million on net sales of $390 million. Better times have returned."

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