NEW YORK, July 30, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Hutchinson Technology Inc. (NASDAQ: HTCH). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=HTCH

Highlights from our HTCH Report include: 


        
        - Consensus Estimates - On July 16, 2015 Hutchinson Technology Inc., announced that
          the Company will be reporting its third quarter financial results on July 30, 2015,
          after the market close. Zacks puts the consensus estimate for Q3 FY15 EPS at ($0.31).
          The Wall Street Journal also has a consensus estimate showing that the Company would
          suffer a loss of 31 cents per share for Q3 FY15 with the estimate trend remaining
          unchanged for the past month and widening from the estimated loss of 21 cents per
          share three months back. During Q3 FY14, the Company had reported losses of 32 cents
          per share.  
        - Management Outlook - When the Company had announced its Q2 results on April 30, 2015,
          Rick Penn, the President and CEO of Hutchinson Technology had said that he sees the
          seasonal weakness experienced by the Company in the March quarter to continue in the
          June quarter. He had observed that the start to the June quarter had been extremely
          slow as customers had reacted to lower disk drive demand by reducing their build plans
          and their levels of suspension inventory. He had added that the Company thus expects,
          Q3 FY15, suspension assembly shipments to be down approximately 10% sequentially with
          the ASP at 58 to 59 cents per part and a sequential drop in the Company's gross
          margins on the back of drop in volumes.
        - Summary of the Previous Quarter Numbers - For Q2 FY15, the Company had reported a net
          loss of $9.7 million or a loss of 29 cents per share with the figure for net sales
          coming in at $62.4 million. The net loss included a non-cash interest expense of $0.43
          million as well as a $0.14 million foreign currency gain. Gross profit for the second
          quarter was $6.3 million and amounted to 10% of sales.
        - Management Commentary on the Road Ahead: On the previous quarter results, Rick Penn
          had said that, the weakness in demand was disappointing, but consistent with seasonal
          demand and production in the disk drive industry. Outlining his view for the second
          half of the year he had commented that the Company expects higher volume due to
          increased worldwide suspension assembly demand and an improving position on customers'
          disk drive programs.

To find out how this influences our rating on Hutchinson Technology Inc. read the full report in its entirely here: http://www.aciassociation.com/?c=HTCH

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