Hutchinson Technology Reports Third Quarter Loss
Construction of the company's assembly facility in Thailand is scheduled to be complete in August and equipment installation will begin thereafter. "We expect to ship products for customer qualification from our Thailand facility early in fiscal 2011," said Skarvan.
Regarding the outlook for suspension assembly demand, Skarvan said the company currently expects its fiscal 2010 fourth quarter shipments to decline 5 to 10 percent compared with the third quarter as a result of share losses with certain customers. "While it will take longer than we previously expected to regain market share, we believe that our strategic investments in our TSA+ process capabilities and our assembly operation in Thailand will further lower our costs and strengthen our competitive position," said Skarvan.
Net sales for the BioMeasurement Division in the fiscal 2010 third quarter totaled $536,000 compared with $687,000 in the preceding quarter and $408,000 in last year's third quarter. Monitor sales were relatively flat on both a year-over-year and a sequential basis. Sensor sales nearly doubled year-over-year, but declined on a sequential basis in the company's third quarter. The installed base of monitors now totals more than 300 across 131 customers compared with 280 at 120 customers at the end of the preceding quarter. The company now expects fiscal 2010 BioMeasurement Division sales to reach about $2.5 million compared with $1.8 million in fiscal 2009."In light of slower sales growth, we are significantly reducing the division's cost structure," said Rick Penn, president of the BioMeasurement Division. "We will focus primarily on the customers, applications and geographic markets where we have the most momentum, which will enable us to reduce our sales force and our spending in other areas." "We have proven that measurement of StO2 can identify problems that other vital signs cannot, and we are making progress in expanding use of our InSpectra(TM) StO2 system in the trauma and emergency departments and surgical intensive care unit," said Penn. "We believe that the potential for the InSpectra StO2 system merits our continued investment."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV