Hutchinson Tech Sees Better-Than-Expected First Quarter - TheStreet

Hutchinson Tech Sees Better-Than-Expected First Quarter

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Hutchinson Technology

(HTCH)

said first-quarter earnings will be better than expected because of strong margins.

The Hutchinson, Minn., maker of disk drive assemblies expects to earn 8 cents to 13 cents a share before items, compared with analysts' forecasts for a loss of 2 cents. Including a gain, the company sees earnings of 16 cents to 21 cents in the quarter, which ended Dec. 30.

The company predicted first-quarter sales of $93 million, roughly in line with estimates.

The company's shares rose as high as $27 in the late session after closing at $24.24.