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August 1, 2014
07:19 EDTHTCHHutchinson Technology reports Q3 EPS (32c), consensus (34c)
Reports Q3 revenue $59.77M, consensus $60.32M. Rick Penn, Hutchinson Technology's president and CEO, said the sequential decline in gross profit was in line with the company's expectations for the quarter. "As planned, we decreased production volume in Q3, which is typically a seasonally slower period for suspension assembly demand. The lower production volume resulted in lower fixed cost absorption and a decline in gross profit,"
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