Tag -  HTCH 

Hutchinson Technology Inc (Nasdaq:HTCH), Jinpan International LTD (Nasdaq:JST), Taylor Cap Group Inc (Nasdaq:TAYC) and ConStar Internatioal Inc (Nasdaq:CNST) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Landmark Bancorp Inc (Nasdaq:LARK), First Bancshares Inc (Nasdaq:FBMS), M/I Homes Inc (Nasdaq:MHO), Ness Technologies Inc (Nasdaq:NSTC) and Hudson Valley Holding Corp (Nasdaq:).

Echelon Corp. (Nasdaq:ELON), Ocwen Financial Corp. (Nasdaq:OCN) and Hutchinson Technology Inc. (Nasdaq:HTCH) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Chindex International Inc. (Nasdaq:CHDX), ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD), Haverty Furniture Co Inc. (Nasdaq:HVT), Crocs Inc. (Nasdaq:CROX), Bank of Commerce Holdings (Nasdaq:BOCH) and Pioneer Drilling Company (Nasdaq:PDC).

FCStone Group, Inc. (Nasdaq:FCSX), Polypore International Inc. (Nasdaq:PPO) and Amicus Therapeutics Inc. (Nasdaq:FOLD) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Northwest Pipe Co. (Nasdaq:NWPX), Universal American Corp. (Nasdaq:UAM), Calgon Carbon Corp. (Nasdaq:CCC), Medicines Co. (Nasdaq:MDCO), Hutchinson Technology Inc. (Nasdaq:HTCH) and Hungarian Telephone and Cable Corp. (Nasdaq:HTC).

Here are the new 52-week lows among small caps:

Hooker Furniture Corp. (Nasdaq:HOFT), Casella Waste Systems Inc. (Nasdaq:CWST) and Amer Land Lease  (Nasdaq:ANL) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Hutchinson Technology Inc. (Nasdaq:HTCH), Vitran Corp Inc. (Nasdaq:VTNC), Big 5 Sporting Goods Corp. (Nasdaq:BGFV), Avid Technology Inc. (Nasdaq:AVID), Gmarket Inc. (Nasdaq:GMKT) and Innerworkings Inc. (Nasdaq:INWK).

Here are the new 52-week lows among small caps:

Hooker Furniture Corp. (Nasdaq:HOFT), Bolt Technology Corp. (Nasdaq:BOLT) and Ariba Inc. (Nasdaq:ARBA) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Brookfield Homes Corp. (Nasdaq:BHS), Transcat Inc. (Nasdaq:TRNS), Gulf Island Fabrication Inc. (Nasdaq:GIFI), Hutchinson Technology Inc. (Nasdaq:HTCH), Hercules Offshore Inc. (Nasdaq:HERO) and VisionChina Media Inc. (Nasdaq:VISN).

Here are the biggest percentage losers among small caps:

Better-than-expected payrolls data and the Federal Reserve’s extension of credit to Wall Street banks buoyed investors’ moods, boosting small caps on the open and keeping them afloat in the green midday.

At 12:34 p.m. ET, the Russell 2000 (NYSE:IWM) was up 2.28, or 0.32%, at 716.83, while the Dow was up 81.5, or 0.72%, at 11,479.06.

A positive surprise from the ADP Employment Report this morning bolstered investors’ expectations for the Labor Department’s monthly employment report due out Friday.

The ADP report showed an uptick of 9,000 in non-farm payroll jobs, substantially above the forecast for a decline of 58,000 non-farm payroll jobs. Historically, the ADP report has carried muster, as it used to correlation with the Labor Department’s employment report; however that correlation has broken down over the last year and the ADP figure has tended to only be a good predictor when it falls near the consensus estimate. Economists are expecting a slide of 75,000 jobs in Friday’s employment report and were skeptical about the ADP data this morning.

In other economic news, the weekly MBA Mortgage Applications Survey clocked in this morning at minus 14.1, the lowest level since December 2001. The combination of weak home sales and slumping home equity continue to take a toll on mortgage applications, despite moderating mortgage rates.

Barrett Business Services Inc (Nasdaq:BBSI), Trex Co In (Nasdaq:TWP) and American Commercial Lines Inc (Nasdaq:ACLI) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Image Sensing Systems Inc (Nasdaq:ISNS), SAVVIS Inc (Nasdaq:SVVS), Starent Networks Corp (Nasdaq:STAR), Wright Express Corp (Nasdaq:WXS), Hutchinson Technology Inc (Nasdaq:HTCH) and Eagle Test Systems Inc (Nasdaq:EGLT).

Here are the biggest percentage gainers among small caps:

Hutchinson Technology Incorporated (Nasdaq:HTCH) is up more than 15% after analysts at Brean Murray upgraded the company to “hold” from “sell.” The Hutchinson, Minn.-based company makes and markets suspension assemblies for disk drives. The research firm said the company had a low valuation. During the past year, shares have ranged from $11.38 to $27.85. In today’s trading, shares are at $15.10 at 12:02 p.m. ET, up $1.92 from Tuesday’s close. Trading volume is nearly double the average number of shares.

Small-cap stocks tumbled hard from intraday highs Wednesday as investors digested another rate cut by the Federal Reserve, and the statement accompanying the move. By the close, Russell 2000 (NYSE:IWM) shares were down 2.75, or 0.38%, at 716.17.

Although the overall decline for the day was tame, the slide off the FOMC peak was relatively dramatic. Small-cap stocks initially pushed higher on the rate cut news, but then descended into a freefall that saw the Russell shed 13 handles or nearly 1.8% from high to low.

The bullish capitulation seen in equities after the FOMC news could have simply been a classic case of a “buy the rumor, sell the fact” market response, especially considering that stocks pushed higher into the news. The S&P 500 Index cracked figure resistance at 1,400 shortly after the FOMC decision, but quickly joined small-cap shares on the retreat as investors shied away from the market. It’s worth noting that the Russell clearly led the overall stock market on the way down as selling enthusiasm kicked into gear about 30 minutes after the rate cut announcement.

“I think the markets were perfectly positioned for the Fed, and are now worried about the payroll report,” Nick Kalivas, vice president of financial research with MF Global, said in an email interview with SmallCapInvestor.com. “Financial and retail shares have not confirmed the rally and this is a technical negative that may have sparked profit taking. Small caps are down mostly on a beta trade, but property casualty and regional banks are the weakest names. This may be a negative reaction to the FOMC and Cash America is off on an Ohio bill that limits interest on payday loans,” Kalivas said. He also anticipated that small caps would tread water sideways to lower heading toward Friday’s employment report, as traders would likely be unwilling . . .

Corus Bankshares, Inc. (Nasdaq:CORS), Guaranty Financial Group Inc. (NYSE:GFG) and Hutchinson Technology Inc. (Nasdaq:HTCH) were among the new 52-week lows established during Wednesday's trading among companies with market capitalizations or values under $750 million.

ILOG S.A. (Nasdaq:ILOG), North Valley Bancorp (Nasdaq:NOVB) and First Financial Corp. (Nasdaq:FFCO) were also among the 52-week small-cap lows.

Here are Wednesday's 52-week small-cap lows:

As widely expected, the Fed trimmed the fed funds rate by 25 basis points to 2%. It is the central bank’s seventh consecutive cut in the key interest rate since September, when the Fed first began battling the credit tempest. The discount rate was similarly lowered by 25 basis points to 2.25%.

In justifying the decision, the Fed said economic activity remains weak because of subdued spending and a soft labor market. The Federal Open Market Committee voted 8-2 to bring its target rate to its lowest since December 2004.

Small caps treaded water briefly after the Fed decision, but are beginning to rise in afternoon trading. At 2:45 p.m. ET, the Russell 2000 (NYSE:IWM) was up 4.93, or 0.69%, at 723.86.

This morning, it was reported that the U.S. economy grew at a slothful 0.6%, just dodging negative growth — an “official” recession signal. GDP came in slightly better than the 0.5% economists had forecasted. While official definition of a recession definition is two consecutive quarters of negative GDP growth, the United States has experienced two quarters of extremely sluggish growth and the U.S. economy is clearly struggling as consumers grapple with tumbling housing values, rising energy and food costs and a soft labor market.

“Everyone has been finding holes in the positive GDP even before it came out and today's number showed much better consumer spending than what would think,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “However, this data didn't include much of the March numbers. We know . . .

Small-caps are continuing their upward assent midday, ahead of the Federal Reserve’s decision and after this morning’s GDP number was in positive territory.

At 1:14 p.m. ET, the Russell 2000 (NYSE:IWM) was up 5.01, or 0.70%, at 723.94, while the Dow had gained 117.4, or 0.91%, to 12,949.34.

The Federal Reserve’s Federal Open Market Committee two-day meeting concludes at 2:15 p.m. today in which the Fed is widely expected to trim the fed funds rate by 25 basis points. This would be the central bank’s seventh consecutive cut in the key interest rate since September when the Fed first began battling the credit tempest. Investors will pay close attention to the central bank’s commentary to see if the Fed will pause its monetary policy-loosening campaign to fend off inflation.

Much of today’s trading has been driven by the better-than-expected GDP number and corporate earnings.

This morning it was reported that the U.S. economy grew at a slothful 0.6%, just dodging negative growth — an “official” recession signal. GDP came in slightly better than the 0.5% economists had forecasted. While official definition of a recession definition is two consecutive quarters of negative GDP growth, the United States has experienced two quarters of extremely sluggish growth and the U.S. economy is clearly struggling as consumers grapple with tumbling housing values, rising energy and food costs and a soft labor market.

“Everyone has been finding holes in the positive GDP even before it came out and today's number showed much better consumer spending than what would think,” Andy Busch, global foreign exchange strategist for BMO Capital Markets, said in an email. “However, this data didn't include much of the March numbers. We know . . .

Headwaters Inc. (NYSE:HW), Corus Bankshares, Inc. (Nasdaq:CORS) and BioScrip Inc. (Nasdaq:BIOS) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $750 million.

LandAmerica Financial Group, Inc. (NYSE:LFG), Hutchinson Technology Inc. (Nasdaq:HTCH) and Anaren, Inc. (Nasdaq:ANEN) are also among the top small-cap percentage losers.

Here are Wednesday's biggest percentage losers among small caps:

The Russell 2000 (NYSE:IWM) has recovered from its earlier loss and is posting a modest rise.

At 11:38 a.m. ET, the small-cap index was up 2.50 points, or 0.35%, to 716.07. The Dow Jones Industrial Average had declined 2.93 points, or 0.02%, to 12,623.10.

Small-cap stocks surprisingly rose into positive territory shortly after 11 a.m. ET. The move comes despite news before the opening of a steeper-than-expected decline in payrolls.

The U.S. Labor Department reported that payrolls fell by 80,000 in March, while total job losses for the first two months was revised up to 152,000 from a previously reported 85,000.

Companies providing school services are currently the best performing industry group. Among them is small-cap American Public Education, Inc. (Nasdaq:APEI), which has seen its stock rise 4%.

The Russell 2000 (NYSE: IWM) is posting solid gains on news the existing home sales fell less than expected in January.

At 11:66 a.m. ET, the small-cap index had added 3.34 points, or 0.48%, to 698.77. The Dow Jones Industrial Average (INDU) was up 52.43 points, or 0.42%, to 12,433.45.

The U.S. housing sector remains very weak, but stocks small and large are rising because the January decline in sales of existing homes was not as bad projected.

The National Association of Realtors reported after the start of trading that sales fell 0.4% to an annualized rate of 4.89 million units, down from an upwardly revised 4.91 million units in December.

Economists were expecting to see a fall to an annual rate of 4.80 million units. The inventory of homes for climbed 5.5%, while the national median home price fell 4.6%.

Small caps are rising, with companies making computer storage devices leading among the best-performing sectors.

Shares of Hutchinson Technology Inc. (Nasdaq: HTCH) are up just barely, while San Diego, Calif.-based Iomega Corp. (NYSE: IOM) is posting a slightly healthier gain.

Hutchinson Technology Inc. (Nasdaq: HTCH) shares are spiraling downward after the computer hardware maker posted a first-quarter profit of $2.3 million, or $0.09 per share, down 60% from $5.8 million, or $0.22 per share, a year earlier. The firm said it experienced a drop in sales of disk drive suspension assemblies.

The Hutchinson, Minn.-based firm said it shipped approximately 213 million suspension assemblies during the quarter, down 5% from 225 million in the year-ago quarter. The company said larger purchases by an important customer in the previous quarter hurt first-quarter results. Going forward, CEO Wayne Fortun said industry analysts project that disk drive shipments will rise 12% in 2008, above previous estimates of 10%.

In response to the earnings release, investment bank Brean Murray Carret & Co. lowered its price target on Hutchinson to $18 from $28. In a note to investors, Mark Miller, a Brean Murray analyst, said the “uncertain outlook causes us to avoid these shares.”

Quarterly revenue fell 8% to $173.1 million, from $188.9 million a year earlier. Wall Street analysts expected revenue of $205.8 million.

At today’s close, HTCH was down 33.20%, or $8.04, at $16.18. Over the last 52 weeks, shares have ranged between $16.10 and $27.85.

The Russell 2000 (NYSE: IWM) futures are lower and the small-cap index will open with a drop following economic news.

Gross domestic product expanded an unimpressive annual rate of 0.6%, the U.S. Commerce Department reported this morning. That’s well below economists’ projections and the lowest rise in five years. The economy added 4.9% in the third quarter.

The numbers are disappointing and tell us that the economic slowdown is more serious than was previously expected.
Economic growth for the entire 2007 was 2.2%, compared with 2.9% in 2006.

The data will most certainly be taken into account by the U.S. Federal Reserve, which concludes its two-day policy meeting this afternoon. It is widely expected that the Fed will lower its target federal funds rate from the current level of 3.5%.

The decision will be announced at about 2:15 p.m. ET.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• NuCO2 Inc. (NUCO), up 16% on news it will be acquired by an affiliate of Aurora Capital Group for $487 million.
• Limelight Networks, Inc. (LLNW), up 11%.
• Pacific Ethanol, Inc. (PEIX), up 8% on news it has received a federal grant of up to $24.3 million to build an ethanol plant.

Biggest percentage losers:

• Hutchinson Technology Inc. (HTCH), down 21% on news of a decline in first-quarter net income.
• LCA-Vision Inc. (LCAV), down 3%.
• SunOpta Inc. (STKL), down 2% on news that a lawsuit has been filed against the company, accusing it of violating federal securities laws.

The Russell 2000 (NYSE: IWM) is firmly in negative territory this afternoon on news of more credit problems and a drop in consumer confidence. At 2:13 p.m. ET, the small-cap index was off 7.26 points, or 0.93%, to 773.64. The Dow Jones Industrial Average (INDU) was down 122.34 points, or 0.92%, to 13,143.95.

The contagion from the meltdown in the subprime mortgage sector infected Wachovia Corp. (NYSE: WB) today, as the fourth largest U.S. bank announced before the opening that it expects to suffer additional losses of $1.1 billion in the third quarter due  to collateralized debt obligations.

Stocks dropped out of the opening and the bears have not looked back since.

More bad news came in the form of a surprisingly sharp decline in November consumer sentiment. Preliminary data reported by the University of Michigan after the start of trading showed that consumer confidence fell to 75.0 from 80.9 in October. Economists were expecting a more modest decline to a level of 80.

The result, the lowest reading in two years, indicates that American consumers are feeling less confident about the economy and are not as willing to spend money. That’s a bad sign, because consumption comprises about 70% of gross domestic product.

Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Hutchinson Technology Inc. (HTCH), up 16% on news of a rise in fiscal fourth-quarter profit.
• Omega Financial Corp. (OMEF), up 15% on news it is being acquired by F.N.B. Corp. (FNB) for $393 million.
• AMIS Holdings Inc. (AMIS), up 15% on news that third-quarter earnings beat expectations.

Biggest percentage losers:

• Rigel Pharmaceuticals Inc. (RIGL), down 19% despite news of a successful drug trial.
• Home Diagnostics Inc. (HDIX), down 18% on news of an analyst downgrade.
• Virco Manufacturing Corp. (VIRC), down 16%. A company representative could not be reached for comment.

Shares of Hutchinson Technology Inc. (Nasdaq: HTCH) have hit a new 52-week high on news after the close on Thursday that the precision manufacturer swung to a fiscal fourth-quarter profit.

Net income for the three months ended Sept. 30 was $18.6 million, or $0.62 per share, compared with a profit of just $0.02 million, or breakeven per share, during the same quarter of 2006. Ten analysts surveyed by Thomson Financial were calling for earnings of $0.11 per share.

However, the results for the fourth fiscal quarter include a favorable income tax adjustment of $9.2 million related to Hutchison Technology’s deferred tax assets. Without the charge, earnings would have been $9.4 million, or $0.32 per share.

Net sales for the quarter increased 10.7% to $199.9 million from $180.6 million a year earlier.

“Our unit shipments and net sales reached record levels in the fourth quarter while our costs have been reduced by an estimated $35 million on an annualized basis,” said president and CEO Wayne Fortun.

Hutchinson Technology, which primarily makes suspension assemblies that hold magnetic read-write heads at microscopic distances above the disks in rigid disk drives, reported that it shipped about 246 million suspension assemblies during the fourth quarter, a rise of 14% from a year earlier.

Leading the way up were shipments for the mobile segment of the disk drive market, which jumped 83% from the previous fourth quarter.

“This increase resulted from our market share gains in the mobile segment combined with rapid growth in that segment of the market.”

At 1:27 p.m. ET, shares of Hutchinson Technology (HTCH) had added $3.65, or 16%, to $27.12. The previous 52-week high of $25.65 was reached on Oct. 2. The 52-week low of $17.69 was set on June 5.

The Russell 2000 (NYSE: IWM) is plummeting on news of more fallout from the meltdown in the subprime mortgage sector.

At 10:22 a.m. ET, the small-cap index had lost 8.23 points, or 1.05%, to 772.67. The Dow Jones Industrial Average (INDU) was down 134.29 points, or 1.01%, to 13,132.

The bears are out in full force today following news before the opening that Wachovia Corp. (NYSE: WB) expects to suffer additional losses of $1.1 billion in the third quarter due to subprime mortgage-related debt. The Charlotte, N.C.-based bank, the fourth largest U.S. bank, said that it will write down collateralized debt obligations of about $1.11 per share for the month of October.

Wachovia also announced that it expects to see loan losses of over $500 million in parts of the country that have been most severely affected by the slump in the housing sector.

The news came as a nasty reminder that the subprime mess continues to ripple through the financial system.

In economic news, the U.S. Commerce Department reported that the trade deficit unexpectedly narrowed in September. The deficit came to $56.5 billion, the lowest level since May 2005 and a decline of 0.6% from $56.8 billion in August. A weak dollar and strong growth overseas helped exports grow more than imports.

The prices of U.S. exports rose 0.9% October from 0.3% in September, according to the Labor Department.

The Russell 2000 (NYSE: IWM) futures are pointing down and the small-cap index will likely open in the red on news of more credit problems.

Wachovia Corp. (NYSE: WB) got the bears ready when it announced this morning that it expects to suffer additional losses of $1.1 billion due to the problems in the subprime mortgage sector. The Charlotte, N.C.-based bank, the fourth largest U.S. bank, said that it will write down collateralized debt obligations of about $1.11 per share for the month of October.

In economic news, the U.S. Commerce Department reported that the trade deficit unexpectedly narrowed in September. The deficit came to $56.5 billion, a decline of 0.6% from $56.8 billion in August. A weak dollar and strong growth overseas helped lift exports.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Echelon Corp. (ELON), up 9%.
• Hutchinson Technology Inc. (HTCH), up 8% on news of a rise in fiscal fourth-quarter profit.
• Superconductor Technologies Inc. (SCON), up 7% on news of a joint venture with Hunchun BaoLi Communications Co. Ltd. (BAOLI).

Biggest percentage losers:

• Jones Soda Co. (JSDA), down 19% on news of a third-quarter loss.
• Isilon Systems Inc. (ISLN) down 16% on news it delayed its third-quarter earnings report.
• DTS Inc. (DTSI) down 15% on news that third-quarter results missed expectations.

Due to stock options backdating, Internet phone service provider iBasis, Inc. (Nasdaq: IBAS) restated its 2006 annual report, adding $10.1 million for stock-based compensation.

Bear Stearns downgraded business software maker Agile Software Corp. (Nasdaq: AGIL) to “peer perform” from “outperform.”

San Diego-based Neurocrine Biosciences, Inc. (Nasdaq: NBIX) said it resubmitted its application for the insomnia drug indiplon to the FDA.

Employee training software maker Saba Software, Inc. (Nasadaq: SABA) said it expects a loss of $0.09 to $0.12 per share in the fourth quarter ended May 31, compared with a loss of $0.12 per share a year earlier.

Bethesda, Md.-based healthcare services provider Chindex International, Inc. (Nasdaq: CHDX) announced a profitable second quarter compared to a loss in the year-ago period.

Burlington, Mass.-based LeMaitre Vascular, Inc. (Nasdaq: LMAT) reported the first implant in the company’s study of its UniFit stent technology at Emory University in Atlanta, Georgia.

Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) announced that the Drug Enhancement Company of America is licensing the company’s Microcyn technology for an over-the-counter “pen-like” applicator used to sterilize wounds. The 10-year licensing deal could provide Oculus with up to $47.5 million.

Portland, Ore.-based business software maker Rentrak Corp. (Nasdaq: RENT) reported a fourth quarter profit of $0.15 per share, up from $0.14 per share in the year-ago period and above analysts’ expectations of $0.11 a share.

Legal software maker EPIQ Systems, Inc. (Nasdaq: EPIQ) announced an upgraded version of its eDiscovery software. The Kansas City-based company added features that allow legal professionals to more quickly review trial and financial transaction documents.

The following are the most actively traded companies in Wednesday pre-market trading among those with market capitalizations under $500 million:

Hutchinson Technology Inc. (Nasdaq: HTCH) fell on exceptionally heavy volume in after-hours trading today after the firm reported a net loss of $3.6 million, or $0.14 per share, on revenue of $170.7 million for its fiscal second quarter ended March 25.

Ten analysts polled by Thomson First Call were expecting, on average, earnings per share of $0.09 on revenue of $184 million. 

The results compared with a net income of $8.3 million, or $0.29 per diluted share, on net sales of $186.4 million in the 2006 fiscal second quarter.

Hutchinson’s shares dropped $1.60, or 7.2%, to $20.51 in after-hours trading. The stock has traded between $17.30 (on July 21, 2006) and $25.40 (on May 10, 2006) in the past year. Volume was heavy – at 1.1 million shares, compared with a three-month daily average of about 445,000 shares.

Shares of Travelzoo Inc. (Nasdaq: TZOO) plunged $6.18, or nearly 17%, to $30.70 on heavy volume in after-hours trading after the New York-based Internet media company missed analysts’ earnings and revenue estimates for the first quarter ended March 31. Travelzoo posted net income of $4.1 million, or $0.25 per share, on revenue of $19.7 million. Five analysts polled by Thomson First Call were, on average, expecting earnings of $0.32 per share on revenue of $20.4 million. Travelzoo Chairman and CEO Ralph Bartel said the company invested nearly $7 million in subscriber acquisition and marketing during the quarter.

Shares of Anadigics Inc. (Nasdaq: ANAD) sunk $1.35, or 10.3%, to $11.80 on heavy volume in after-hours trading after news the company missed analysts’ earnings estimates for the first quarter ended March 31. The Warren, N.J. supplier of wireless and broadband communications solutions posted a net loss of $1.2 million, or $0.02 per share, on sales of $49.6 million for the quarter. Ten analysts polled by Thomson First Call, on average, estimated earnings per share of $0.06 on revenue of $50.3 million. For the second quarter ended June 30, Anadigics predicted net income per share on a GAAP basis to be about $0.01 to $0.02, which on a pro forma basis, excluding non-cash stock compensation expense, approximates $0.09 to $0.10 per share. Analysts are expecting earnings per share of $0.09 for the quarter.

Hutchinson Technology Inc. (Nasdaq: HTCH) fell $1.60, or 7.2%, to $20.51 in active after-hourse trading after the firm reported a net loss of $3.6 million, or $0.14 per share, on revenue of $170.7 million for its fiscal second quarter ended March 25. Ten analysts polled by Thomson First Call were expecting, on average, earnings per share of $0.09 on revenue of $184 million. The Hutchinson, Minn.-based supplier of suspension assemblies for disk drives cited market conditions. Hutchinson president and CEO Wayne M. Fortun said that suspension assembly pricing is becoming more competitive.