Shares of Hutchinson Technology (HTCH -29.7%) plummet following the company's FQ3 report. CEO...

|About: Hutchinson Technology Incor... (HTCH)|By:, SA News Editor

Shares of Hutchinson Technology (HTCH -29.7%) plummet following the company's FQ3 report. CEO Rick Penn says part of the weakness was expected and is attributable to "lower production volume due to inventory usage." However, there were also "some short-term manufacturing inefficiencies" which Penn says have been "resolved." Management expects production volume to rise in Q4 and the company should ship 100-110M suspension assemblies during the period. Average selling prices are expected to be "flat to up slightly." (PR)