Hutchinson Technology

Hutchinson Technology is a leading manufacturer of precision micro electro-mechanical components & assemblies. Founded in 1965, HTI has been serving electronics, defense, computer, medical, aerospace, & telecommunications industries for over 50 years. HTI is a global technology leader committed to creating value by developing solutions to critical customer problems. Our culture of quality, continuous improvement, superior innovation and a relentless focus on the fundamentals is the source of our competitive advantage. We specialize in design and manufacture of close-tolerance products that require chemical, mechanical and electronic technologies. Our Disk Drive Components Division is a key worldwide supplier of suspension assemblies for hard disk drives. Suspensions are precision micro electromechanical assemblies that position the read/write head a few nanometers above the spinning magnetic disk. Each week HTI produces ~ 10 million suspension assemblies using highly controlled processes & sophisticated automation to achieve best in class quality and lowest cost. Through our new business development initiatives, we are leveraging our unique precision manufacturing capabilities to produce components and sub-assemblies for new market segments. For example, we recently completed development and began volume production of SMA optical image stabilization (OIS) actuators for smartphone cameras. HTI's custom manufacturing group is focused on leveraging technologies & capabilities developed for the hard drive industry into other markets.
Type
Public
HQ
Hutchinson, US
Founded
1965
Size (employees)
2,412 (est)
Website
htch.com
Hutchinson Technology was founded in 1965 and is headquartered in Hutchinson, US

Hutchinson Technology Office Locations

Hutchinson Technology has offices in Hutchinson, Eau Claire and Ayutthaya
Hutchinson, US (HQ)
40 West Highland Park Drive N.E.
Ayutthaya, TH
50 Moo 4 Rojana Industrial Park Zone 8
Eau Claire, US
2435 Alpine Rd

Hutchinson Technology Data and Metrics

Hutchinson Technology Financial Metrics

Hutchinson Technology's revenue was reported to be $252.8 m in FY, 2015 which is a 3% decrease from the previous period.
$, USD

Revenue (FY, 2015)

252.8 m

Revenue growth (FY, 2014 - FY, 2015), %

(3%)

Gross profit (FY, 2015)

30 m

Gross profit margin (FY, 2015), %

12%

Net income (FY, 2015)

(39.1 m)

EBIT (FY, 2015)

(17.3 m)

Market capitalization (01-Sep-2016)

49.5 m

Closing share price (01-Sep-2016)

1.5

Cash (31-Dec-2015)

39.5 m

EV

141.6 m
Hutchinson Technology's current market capitalization is $49.5 m.
$, USDFY, 2013FY, 2014FY, 2015

Revenue

249.6 m261.1 m252.8 m

Revenue growth, %

5%(3%)

Cost of goods sold

233.2 m237.2 m222.8 m

Gross profit

16.4 m23.9 m30 m

Gross profit Margin, %

7%9%12%

EBIT

(24.7 m)(23.6 m)(17.3 m)

EBIT margin, %

(10%)(9%)(7%)

Interest income

98 k73 k40 k

Pre tax profit

(35.1 m)(41.2 m)(39.2 m)

Net Income

(35.1 m)(40.4 m)(39.1 m)
$, USDFY, 2013FY, 2014FY, 2015

Cash

39.4 m37.9 m39.5 m

Accounts Receivable

21.7 m24 m15.9 m

Inventories

44.3 m49 m40.1 m

Current Assets

116.2 m119.1 m102.7 m

PP&E

186.9 m153.2 m134.5 m

Total Assets

306.7 m275.2 m241.5 m

Accounts Payable

23.5 m19.1 m19.9 m

Total Debt

131.1 m142.5 m131.6 m

Current Liabilities

44 m85.6 m41.5 m

Additional Paid-in Capital

431.9 m433.3 m452.2 m

Retained Earnings

(297.8 m)(338.2 m)(377.3 m)

Total Equity

134.2 m94.8 m70.9 m

Debt to Equity Ratio

1 x1.5 x1.9 x

Debt to Assets Ratio

0.4 x0.5 x0.5 x

Financial Leverage

2.3 x2.9 x3.4 x
$, USDFY, 2013FY, 2014FY, 2015

Net Income

(35.1 m)(40.4 m)(39.1 m)

Cash From Operating Activities

6.1 m(1.5 m)18.8 m

Capital Expenditures

(18.9 m)(17.3 m)(17.9 m)

Cash From Investing Activities

(118.9 m)(4.4 m)(14.3 m)

Cash From Financing Activities

(8.7 m)3.9 m(3.8 m)

Free Cash Flow

(12.8 m)(18.8 m)825 k
$, USDY, 2015

EV/EBIT

-8.2 x

EV/CFO

7.5 x

EV/FCF

171.7 x

Revenue/Employee

104.8 k

Debt/Equity

1.9 x

Debt/Assets

0.5 x

Financial Leverage

3.4 x

Hutchinson Technology Operating Metrics

Hutchinson Technology's Order Book was reported to be $20.5 m in FY, 2015, which is a 36% decrease from the previous period. Hutchinson Technology's Units Shipped was reported to be 105 m in Q4, 2015, which is a 21% increase from the previous period. Hutchinson Technology's Patent Applications was reported to be 56 in FY, 2015
Q1, 2014Q2, 2014Q3, 2014Q4, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015

Units Shipped

116 m102 m98 m116 m432 m122 m101 m87 m105 m415 m

Order Book

$32.07 m$20.54 m

Patents (US)

219

Patents (foreign)

16

Patent Applications

56

Hutchinson Technology Revenue Breakdown

Hutchinson Technology News and Updates

Hutchinson Technology Company Life and Culture

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