Struggling Hutchinson Technology issues upbeat projectionby Bill Catlin, Minnesota Public Radio
St. Paul, Minn. — Struggling Hutchinson Technology Tuesday issued a more upbeat outlook.
The maker of computer hard-drive components, headquartered in central Minnesota, said it expects a 10 percent increase in shipments during the company's third quarter. Earlier officials projected little to no growth from the second to third quarters.
Hutchinson Tech officials say demand is shifting in ways that favor the company's products. The improved outlook comes in the wake of a long steady decline in the company's fortunes and employment.
Hutchinson Technology's share price jumped as much as 20 percent in morning trading.