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Hutchinson Technology (Nasdaq: HTCH) $2.27. Today announced preliminary results for its fiscal 2011 third quarter ending June 26, 2011. The company shipped approximately 118 million suspension assemblies in the fiscal 2011 third quarter, up 15 percent compared with its second quarter shipments of 102.3 million. Net sales for the quarter totaled approximately $72 million, up 14 percent compared with its second quarter net sales of $63.3 million.
Wayne Fortun, Hutchinson Technology's president and chief executive officer, said "our shipments over the last 9 weeks of our third quarter averaged approximately 10 million suspensions per week, and we expect this pace to continue into the fourth quarter. As a result, we currently expect our fourth quarter shipments to exceed our third quarter shipments. It appears that demand has shifted to some customer programs where we have stronger positions, and we believe that we are beginning to regain market share. We are leveraging available capacity to respond to the additional customer demand."
What They Do: Hutchinson Technology is a global technology leader committed to creating value by developing solutions to critical customer problems.
Soda Stream (Nasdaq: SODA) $70.40. Today announced that on Wednesday, July 6th, the Company will break ground on a new 850,000 square-foot manufacturing facility in Israel. The new primary site is expected to go live during 2013 at an approximate cost of euro 30 million. This state-of-the-art facility will be the anchor project of a new industrial park near the southern town of Beersheba. Attendees expected at the groundbreaking include Silvan Shalom, Vice Prime Minister of Israel, along with other members of the government.
What They Do: SodaStream manufactures home beverage carbonation systems, which enable consumers to easily transform ordinary tap water instantly into carbonated soft drinks and sparkling water.
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