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Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: virgil vancleave who wrote (8104)	11/4/1997 6:27:00 PM
From: marc chatman	Respond to of 13456

HTCH news: 11/04 18:10 Hutchinson Technology <HTCH.O> sees Q1 FY98 loss HUTCHINSON, Minn., Nov 4 (Reuters) - Hutchinson Technology Inc said Tuesday that it expects to report a loss in the first quarter of fiscal 1998. "As a result of continued low demand and the drag on earnings related to development and production ramp-up costs for our TSA suspensions, we expect to report a net loss for our fiscal first quarter," president and chief executive officer Wayne Fortun said in a news release. The company, a supplier of suspension assemblies for disk drives, earlier reported fourth quarter earnings of $0.02 a share, versus $0.08 a year earlier. Hutchinson had previously announced it expected to operate near break-even in the fourth quarter. "We believe this decline in demand results from disk drive manufacturers temporarily slowing production of certain models to reduce inventories," said Fortun. He noted, however, there was rising demand for its TSA suspensions which incorporate integrated electrical leads and the company was incresing output as quickly as possible. Fortun said that in fiscal 1997 the company produced about eight million TSA suspensions and that during the fiscal 1997 fourth quarter alone, the company produced 3.6 million TSA suspensions or an average of 280,000 per week. The comment on low demand from DD's may not bode so well for APM.