Hutchinson Q2 Sales Below Consensus

(RTTNews) - Hutchinson Technology Inc (HTCH), a supplier of critical precision component technologies, on Wednesday said its second-quarter sales totaled about $62 million.

Analysts polled by Thomson Reuters expected the company to report sales of $65.2 million for the quarter.

Hutchinson, which said the results were preliminary, noted that during the second quarter, it shipped about 101 million suspension assemblies, down 17% from the preceding quarter.

CEO Rick Penn said demand was below the company's expectations due to weakness in the personal computer market. "Cloud and hyperscale applications are expected to provide future growth for suspension assembly demand, but our current demand is still heavily weighted to PC applications," said Penn in a statement.