Hutchinson Technology Shares Surge On Upbeat Q3 Revenue Forecast
Hutchinson Technology Inc (NASDAQ: HTCH) issued upbeat revenue forecast for its fiscal third quarter.
The company projects Q3 sales of about $72 million, up 14% from second quarter, and above analysts' estimates of $65.5 million. Hutchinson shipped around 118 million disk-drive suspension assemblies in the quarter, up 15% versus the second quarter.
HTCH shares gained 15.86% to $2.63 at 9:45 am.
Read more from Benzinga's Company news.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.