Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: MKL who wrote (4707)	2/26/1998 11:07:00 PM
From: DJBEINO	Respond to of 7841

Hutchinson Technology Issues Bleak Forecast For 2nd Quarter HUTCHINSON, Minn. -(Dow Jones)- Hutchinson Technology Inc. said Thursday it has recorded a loss of 56 cents a share on sales of $52 million through the first eight weeks of its fiscal second quarter ending March 29. The company (HTCH) said shipments of its disk-drive suspension assemblies are below prior quarter levels because of continued weak demand. The company cited inventory-reduction efforts at major disk-drive makers. Hutchinson has shipped 64 million suspensions during the first eight weeks of the quarter compared with 135 million during the entire first quarter. The company said it continues to invest in expansion of its capacity to make TSA suspension assemblies, which it expects will account for at least half of its output in fiscal 1999. The mean estimate of four analysts surveyed by First Call was for a second-quarter loss of 57 cents a share for the company. For the second quarter ended March 30, 1997, the company reported net income of $16.7 million, or 91 cents a share, on sales of $124.3 million. Hutchinson issued the weak outlook after the market closed Thursday. Its shares (HTCH) added 37.5 cents to $24.50.