On April 30, Hutchinson Technology, Inc. (NASDAQ:HTCH) reported a quarterly profit of $1.9 million, the first time in many years the company has reported positive net income. While exclusion of non-recurring events turns this profit into a $4.0 million loss, the quarter's performance nevertheless contributes to mounting evidence that HTCH is about to once again be a profitable company. Most importantly for shareholders, the miniscule valuation currently given to Hutch Tech by the market is likely to grow into a more reasonable valuation leading to substantial investment gains.
The Poor Performance of the Past
Over the past several years, Hutchinson Technology has performed abysmally - and has been punished relentlessly by the market for its poor performance....
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