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Sonic Corporation (SONC) Message Board

cscokid_00 3 posts  |  Last Activity: Oct 20, 2014 8:43 AM Member since: Jan 24, 2000
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  • cscokid_00 by cscokid_00 Oct 20, 2014 8:43 AM Flag

    HUTCHINSON, Minn., Oct. 20, 2014 (GLOBE NEWSWIRE) -- Hutchinson Technology Incorporated (HTCH) today reported preliminary results for its fiscal 2014 fourth quarter ended September 28, 2014. The company shipped 117.1 million suspension assemblies in the fourth quarter, above the company's previously announced guidance of 110 million to 115 million suspension assemblies and up 20% from 97.5 million in the preceding quarter. Rick Penn, Hutchinson Technology's president and chief executive officer, said that increases in customers' hard disk drive production levels and the company's improved participation on several disk drive programs led to the sequential increase in shipments.

    Net sales for the quarter totaled approximately $70.3 million compared with $59.8 million in the preceding quarter. Average selling price of $0.58 was flat compared with the preceding quarter. The company estimates that its gross margin for the fiscal 2014 fourth quarter was 12% to 13% of net sales compared to 6% of net sales in the preceding quarter. Penn said that the effects of higher volume, the company's cost reduction efforts and improved operational performance contributed to the margin improvement in the fourth quarter. The company's Thailand operation accounted for 78% of assembly production in the fourth quarter, up from 64% in the preceding quarter.

    Cash and investments totaled $38.9 million at the end of the fiscal 2014 fourth quarter compared to $40.2 million at the end of the preceding quarter. Outstanding borrowings on the company's revolving line of credit were $9.5 million at the end of the fourth quarter compared to $4.8 million at the end of the preceding quarter. The additional borrowing was driven by working capital needs, including an increase in accounts receivable due to the increase in net sales.

    Sentiment: Buy

  • Reply to

    Claude is about a 3 P/E stock right now

    by cashflowgems Oct 8, 2014 11:43 AM
    cscokid_00 cscokid_00 Oct 10, 2014 11:31 AM Flag

    you tell me?

  • Reply to

    Claude is about a 3 P/E stock right now

    by cashflowgems Oct 8, 2014 11:43 AM
    cscokid_00 cscokid_00 Oct 9, 2014 1:27 PM Flag

    I'm all for CLGRF but 1800 gold is in the past. What's it worth at $1100? That's where its heading

    Sentiment: Buy

SONC
26.88+0.06(+0.22%)Dec 26 4:00 PMEST

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