The company continues to transfer more assembly production to its lower cost operation in Thailand. In the fiscal 2013 second quarter, the Thailand operation accounted for 27% of assembly production, up from 18% in the preceding quarter. By the end of the fiscal 2013 third quarter, the company expects its Thailand operation will account for approximately 40% of assembly production, including increased production of DSA suspensions.Cash and investments at the end of the 2013 second quarter totaled $41.1 million compared with $57.5 million at the end of the preceding quarter. During the quarter, the company redeemed the remaining $11.9 million of its 3.25% Convertible Subordinated Notes. Cash generated by operations totaled $3.7 million in the fiscal 2013 second quarter and capital spending totaled $7.6 million. Outstanding borrowings on the company's revolving line of credit totaled $2.3 million at the end of the fiscal 2013 second quarter compared with $4.1 million at the end of the preceding quarter.
Hutchinson Technology Reports Second Quarter Results
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