This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hutchinson Technology CEO Discusses F1Q2012 Results - Earnings Call Transcript

Stocks in this article: HTCH

Now, I will turn the call over to Rick for a recap of the disk drive components division first quarter.

Rick Penn

Thanks Wayne. During our fiscal 2012 first quarter we shipped $89.3 million to suspension assemblies, which was down 30% from $127.4 million in the preceding quarter and in line with our guidance. The decline resulted from flood related capacity constrains at our customers. We believe that our competitors also experienced declines in their volume and that we maintained our overall market share we had approximately 20%.

Thanks to the efforts of our employees here in the U.S. and abroad we’ve been able to leverage the existing capacity of our vertically integrated U.S. operations to meet customer’s needs. This available capacity also positions us well to respond to increased demand as the industry recovers.

For the fiscal 2012 first quarter our mix of product shift was as follows suspensions for 3.5- inch ATA applications decreased 56% sequentially and accounted for 35% of our shipments compared with 55% in the preceding quarter. Shipments from mobile applications increased 11% sequentially and accounted for 42% of our shipments up from 27% in the preceding quarter and shipments for enterprise applications decreased 9% sequentially and accounted for 23% of our shipments, compared to an 18% in the preceding quarter.

These changes in our product mix were a result of the flood related capacity constraints at our customers and caused our average selling price to increase from $0.58 in the preceding quarter to $0.60 in the fiscal 2012 first quarter. Our first quarter shipments TSA+ suspension assemblies decreased 39% sequentially to $47 million and accounted for 52% of our shipments, down from 60% in the preceding quarter.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs