Global technology company Hutchinson Technology Inc. yesterday reported its preliminary results for the third quarter of fiscal 2011, noting a shift in consumer demand and outlook for the upcoming quarter.
For the three months ended June 26, 2011, Hutchinson
Net sales for the quarter were approximately $72 million, up 14 percent over second-quarter net sales of $63.3 million.
Wayne Fortun, Hutchinson
“Our shipments over the last 9 weeks of our third quarter averaged approximately 10 million suspensions per week, and we expect this pace to continue into the fourth quarter. As a result, we currently expect our fourth quarter shipments to exceed our third-quarter shipments,” Fortun stated in the press release. “It appears that demand has shifted to some customer programs where we have stronger positions, and we believe that we are beginning to regain market share. We are leveraging available capacity to respond to the additional customer demand.”
For more information visit www.htch.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
