<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended DECEMBER 28, 1997
-------------------------------
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ______________________to ____________________
Commission File Number 0-14709
------------------------------------------------
HUTCHINSON TECHNOLOGY INCORPORATED
-----------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
MINNESOTA 41-0901840
----------------------------------------- ------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
40 WEST HIGHLAND PARK, HUTCHINSON, MINNESOTA 55350
------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
(320) 587-3797
-------------------------------------------------------------------------
(Registrant's telephone number, including area code)
--------------------------------------------------------------------------
(Former name, address or fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
----- -----
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
As of January 30, 1998 the registrant had 19,661,323 shares of Common Stock
issued and outstanding.
- --------------------------------------------------------------------------------
<PAGE>
This Amendment on Form 10-Q/A is being filed for the purpose of amending and
restating references to Exhibit 27 in Item 6 of, and Exhibit 27 to, the
Registrant's Quarterly Report on Form 10-Q for the fiscal period ended
December 28, 1997. Pursuant to Item 601(c)(2)(iii) of Regulation S-K, this
Amendment restates Financial Data Schedules previously submitted by the
Registrant to give effect to FASB Statement No. 128, "Earnings Per Share."
On January 20, 1997 the Registrant announced that its Board of Directors
approved a three-for-one stock split of the Registrant's common stock,
effective at the close of business on February 11, 1997. Contemporaneously,
the Registrant changed the par value of its common stock from $.02 per share
to $.01 per share. Common stock, other shareholders' equity and earnings per
share amounts in the restated financial data schedules filed hereby have been
adjusted to reflect the stock split and par value change.
The following amends and restates Item 6 and Exhibit 27 in their entirety:
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
a) EXHIBITS.
3.1 Restated Articles of Incorporation of the Company, as amended by
Articles of Amendment dated January 27, 1988 and as amended by Articles
of Amendment dated January 21, 1997 (incorporated by reference to
Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q for the
quarter ended June 29, 1997, File No. 0-14709).
.
3.2 Restated By-Laws of the Company (incorporated by reference to Exhibit
3.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended
December 29, 1996, File No. 0-14709).
4.1 Instruments defining the rights of security holders, including an
indenture. The Registrant agrees to furnish the Securities and Exchange
Commission upon request copies of instruments with respect to long-term
debt.
4.2 Note Purchase Agreement dated as of April 20, 1994, providing for the
placement of $20,000,000 of senior unsecured notes with Teachers
Insurance and Annuity Association of America (incorporated by reference
to Exhibit 4.10 to the Company's Quarterly Report on Form 10-Q for the
quarter ended March 27, 1994, File No. 0-14709), Amendment dated as of
March 15, 1996 (incorporated by reference to Exhibit 4.2 to the
Company's Quarterly Report on Form 10-Q for the quarter ended March 24,
1996, File No. 0-14709), and Amendment dated as of February 24, 1997
(incorporated by reference to Exhibit 4.2 to the Company's Quarterly
Report on Form 10-Q for the quarter ended March 30, 1997, File No.
0-14709).
4.3 Note Purchase Agreement dated as of April 20, 1994, providing for the
placement of $5,000,000 of senior unsecured notes with Central Life
Assurance Company (incorporated by reference to Exhibit 4.11 to the
Company's Quarterly Report on Form 10-Q for the quarter ended March 27,
1994, File No. 0-14709), Amendment dated as of March 15, 1996
(incorporated by reference to Exhibit 4.3 to the Company's Quarterly
Report on Form 10-Q for the quarter ended March 24, 1996, File No.
0-14709), and Amendment dated as of February 24, 1997 (incorporated by
reference to Exhibit 4.3 to the Company's Quarterly Report on Form 10-Q
for the quarter ended March 30, 1997, File No. 0-14709).
4.4 Note Purchase Agreement dated as of April 20, 1994, providing for the
placement of $5,000,000 of senior unsecured notes with Modern Woodmen of
America (incorporated by reference to Exhibit 4.12 to the Company's
Quarterly Report on Form 10-Q for the quarter ended March 27, 1994, File
No. 0-14709), Amendment dated as of March 15, 1996 (incorporated by
reference to Exhibit 4.4 to the Company's Quarterly Report on Form 10-Q
for the quarter ended March 24, 1996, File No. 0-14709), and Amendment
dated as of February 24, 1997 (incorporated by reference to Exhibit 4.4
to the Company's Quarterly Report on Form 10-Q for the quarter ended
March 30, 1997, File No. 0-14709).
4.5 Credit Agreement between the Company and The First National Bank of
Chicago, dated as of December 8, 1995 (incorporated by reference to
Exhibit 4.5 to the Company's Quarterly Report on Form 10-Q for the
quarter ended December 24, 1995, File No. 0-14709), First Amendment
dated as of June 22, 1996 (incorporated by reference to
<PAGE>
Exhibit 4.5 to the Company's Quarterly Report on Form 10-Q for the
quarter ended June 23, 1996, File No. 0-14709), and Second Amendment
dated as of February 24, 1997 (incorporated by reference to Exhibit 4.5
to the Company's Quarterly Report on Form 10-Q for the quarter ended
March 30, 1997, File No. 0-14709).
4.6 Note Purchase Agreement dated as of July 26, 1996, providing for the
placement of $15,000,000 of senior unsecured notes with Metropolitan
Insurance and Annuity Company (incorporated by reference to Exhibit 4.6
to the Company's Annual Report on Form 10-K for the fiscal year ended
September 29, 1996, File No. 0-14709), and Amendment dated as of
February 24, 1997 (incorporated by reference to Exhibit 4.6 to the
Company's Quarterly Report on Form 10-Q for the quarter ended March 30,
1997, File No. 0-14709).
4.7 Note Purchase Agreement dated as of July 26, 1996, providing for the
placement of $10,000,000 of senior unsecured notes with Metropolitan
Life Insurance Company (incorporated by reference to Exhibit 4.7 to the
Company's Annual Report on Form 10-K for the fiscal year ended September
29, 1996, File No. 0-14709), and Amendment dated as of February 24, 1997
(incorporated by reference to Exhibit 4.7 to the Company's Quarterly
Report on Form 10-Q for the quarter ended March 30, 1997, File No.
0-14709).
4.8 Note Purchase Agreement dated as of July 26, 1996, providing for the
placement of $25,000,000 of senior unsecured notes with Teachers
Insurance and Annuity Association of America (incorporated by reference
to Exhibit 4.8 to the Company's Annual Report on Form 10-K for the
fiscal year ended September 29, 1996, File No. 0-14709), and Amendment
dated as of February 24, 1997 (incorporated by reference to Exhibit 4.8
to the Company's Quarterly Report on Form 10-Q for the quarter ended
March 30, 1997, File No. 0-14709).
10.1 Lease with Right of Refusal between Donald Wendorff and Laura Wendorff,
Lessors, and the Company, Lessee, dated September 6, 1995 (incorporated
by reference to Exhibit 10.2 to the Company's Annual Report on Form 10-K
for the fiscal year ended September 24, 1995, File No. 0-14709).
10.2 Office/Warehouse Lease between OPUS Corporation, Lessor, and the
Company, Lessee, dated December 29, 1995 (incorporated by reference to
Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the
quarter ended March 24, 1996, File No. 0-14709), and First Amendment to
Office/Warehouse Lease dated April 30, 1996 (incorporated by reference
to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the
quarter ended June 23, 1996, File No. 0-14709).
10.3 Building Lease dated April 1988 and Amendment to Building Lease dated
August 29, 1988 (incorporated by reference to Exhibit 10.9 to the
Company's Annual Report on Form 10-K for the fiscal year ended September
25, 1988, File No. 0-14709), Second Amendment to Building Lease dated as
of September 18, 1989, relating to the Company's Sioux Falls, South
Dakota facility (incorporated by reference to Exhibit 10.9 to the
Company's Annual Report on Form 10-K for the fiscal year ended September
30, 1990, File No. 0-14709), Third Amendment to Building Lease dated
September 19, 1991, relating to the Company's Sioux Falls, South
Dakota facility (incorporated by reference to Exhibit 10.9 to the
Company's Annual Report on Form 10-K for the fiscal year ended September
29, 1991, File No. 0-14709), Fourth Amendment to Commercial Lease dated
<PAGE>
September 29, 1992, relating to the Company's Sioux Falls, South Dakota
facility (incorporated by reference to Exhibit 10.10 to the Company's
Annual Report on Form 10-K for the fiscal year ended September 27, 1992,
File No. 0-14709), Fifth Amendment to Commercial Lease dated February
11, 1993, relating to the Company's Sioux Falls, South Dakota facility
(incorporated by reference to Exhibit 10.6 to the Company's Annual
Report on Form 10-K for the fiscal year ended September 24, 1995, File
No. 0-14709), Sixth Amendment to Commercial Lease dated February 17,
1995, relating to the Company's Sioux Falls, South Dakota facility
(incorporated by reference to Exhibit 10.6 to the Company's Annual
Report on Form 10-K for the fiscal year ended September 24, 1995, File
No. 0-14709), and Seventh Amendment to Commercial Lease dated April 1,
1995, relating to the Company's Sioux Falls, South Dakota facility
(incorporated by reference to Exhibit 10.6 to the Company's Annual
Report on Form 10-K for the fiscal year ended September 24, 1995, File
No. 0-14709).
10.4 Hutchinson Technology Incorporated 401-K Plan and related 401-K Trust
(incorporated by reference to Exhibit 10.10 to the Company's Annual
Report on Form 10-K for the fiscal year ended September 30, 1990, File
No. 0-14709), and Amendment effective April 1, 1995 (incorporated by
reference to Exhibit 10.4 to the Company's Quarterly Report on Form 10-Q
for the quarter ended March 24, 1996, File No. 0-14709), and Amendment
effective April 1, 1996 (incorporated by reference to Exhibit 10.4 to
the Company's Quarterly Report on Form 10-Q for the quarter ended June
23, 1996, File No. 0-14709).
.
10.5 Directors' Retirement Plan effective as of January 1, 1992 (incorporated
by reference to Exhibit 10.12 to the Company's Annual Report on Form
10-K for the fiscal year ended September 27, 1992, File No. 0-14709),
and Amendment to Directors' Retirement Plan effective as of November 19,
1997.
10.6 Description of Bonus Program for Key Employees of Hutchinson Technology
Incorporated (incorporated by reference to Exhibit 10.13 to the
Company's Annual Report on Form 10-K for the fiscal year ended September
27, 1992, File No. 0-14709).
10.7 1988 Stock Option Plan (incorporated by reference to Exhibit 10.8 to the
Company's Annual Report on Form 10-K for the fiscal year ended September
25, 1988, File No. 0-14709), Amendment to the 1988 Stock Option Plan
(incorporated by reference to Exhibit 10.5 to the Company's Annual
Report on Form 10-K for the fiscal year ended September 26, 1993, File
No. 0-14709), and Amendment to the 1988 Stock Option Plan (incorporated
by reference to Exhibit 10.5 to the Company's Quarterly Report on Form
10-Q for the quarter ended March 26, 1995, File No. 0-14709).
*10.8 Technology Transfer and Development Agreement, effective as of September
1, 1994, between Hutchinson Technology Incorporated and International
Business Machines Corporation (incorporated by reference to Exhibit
10.10 to the Company's Quarterly Report on Form 10-Q/A for the quarter
ended June 25, 1995, File No. 0-14709), and Amendment dated December 11,
1995 to the Technology Transfer and Development Agreement between
International Business Machines Corporation and Hutchinson Technology
Incorporated executed June 15, 1995 (incorporated by reference to
Exhibit 10.8 to the Company's Quarterly Report on Form 10-Q for the
quarter ended December 24, 1995, File No. 0-14709).
<PAGE>
*10.9 Patent License Agreement, effective as of September 1, 1994, between
Hutchinson Technology Incorporated and International Business Machines
Corporation (incorporated by reference to Exhibit 10.11 to the Company's
Quarterly Report on Form 10-Q/A for the quarter ended June 25, 1995,
File No. 0-14709).
10.10 Lease Agreement between Meridian Eau Claire LLC and Hutchinson
Technology Incorporated, dated May 1, 1996 (incorporated by reference to
Exhibit 10.10 to the Company's Quarterly Report on Form 10-Q for the
quarter ended June 23, 1996, File No. 0-14709).
10.11 Master Lease Agreement dated as of December 19, 1996 between General
Electric Capital Corporation, as Lessor, and Hutchinson Technology
Incorporated, as Lessee (incorporated by reference to Exhibit 10.11 to
the Company's Quarterly Report on Form 10-Q for the quarter ended
December 29, 1996, File No. 014709), and Amendment dated June 30, 1997
to the Master Lease Agreement between General Electric Capital
Corporation and Hutchinson Technology Incorporated.
10.12 Hutchinson Technology Incorporated 1996 Incentive Plan (incorporated by
reference to Exhibit 10.12 to the Company's Quarterly Report on
Form 10-Q for the quarter ended December 29, 1996, File No. 0-14709).
10.13 Hutchinson Technology Incorporated Incentive Bonus Plan.
11.1 Statement Regarding Computation of Net Income Per Share.
27.1 Financial Data Schedule.
27.2 Restated Financial Data Schedule for the years ended September 24,
1995; September 29, 1996 and September 28, 1997.
27.3 Restated Financial Data Schedule for the interim year to date periods
ended December 24, 1995, March 24, 1996 and June 23, 1996.
27.4 Restated Financial Data Schedule for the interim year to date periods
ended December 29, 1996, March 30, 1997 and June 29, 1997.
* Exhibits 10.8 and 10.9 contain portions for which confidential treatment
has been granted by the Securities and Exchange Commission.
b) REPORTS ON FORM 8-K.
No Current Reports on Form 8-K were filed during the thirteen weeks
ended December 28, 1997.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
HUTCHINSON TECHNOLOGY INCORPORATED
Date: May 5, 1998 By /s/Wayne M. Fortun
-------------------------- -------------------------------------
Wayne M. Fortun
President, Chief Executive Officer and
Chief Operating Officer
Date: May 5, 1998 By /s/John A. Ingleman
-------------------------- -------------------------------------
John A. Ingleman
Vice President, Chief Financial Officer
and Secretary
<PAGE>
INDEX TO EXHIBITS
Exhibit
No. Page
- ----------- -------------
10.5 Amendment to Directors' Retirement Plan dated Previously
November 19, 1997 Filed
10.11 Amendment to Master Lease Agreement dated June 30, Previously
1997 Filed
10.13 Hutchinson Technology Incorporated Incentive Bonus Previously
Plan Filed
11.1 Statement Regarding Computation of Net Income Per Previously
Share Filed
27.1 Financial Data Schedule Electronically
Filed
27.2 Restated Financial Data Schedule for the years Electronically
ended September 24, 1995, September 29, 1996 Filed
and September 28, 1997.
27.3 Restated Financial Data Schedule for the Electronically
interim year to date periods ended December Filed
24, 1995, March 24, 1996 and June 23, 1996.
27.4 Restated Financial Data Schedule for the Electronically
interim year to date periods ended December Filed
29, 1996, March 30, 1997 and June 29, 1997.
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND CONSOLIDATED STATEMENT OF OPERATIONS OF
HUTCHINSON TECHNOLOGY INCORPORATED FOR THE THIRTEEN WEEKS ENDED
DECEMBER 28, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> SEP-27-1998
<PERIOD-START> SEP-29-1997
<PERIOD-END> DEC-28-1997
<CASH> 36,069,000
<SECURITIES> 19,421,000
<RECEIVABLES> 47,085,000
<ALLOWANCES> 2,852,000
<INVENTORY> 35,389,000
<CURRENT-ASSETS> 188,796,000
<PP&E> 406,996,000
<DEPRECIATION> 180,634,000
<TOTAL-ASSETS> 427,179,000
<CURRENT-LIABILITIES> 80,120,000
<BONDS> 71,522,000
0
0
<COMMON> 196,000
<OTHER-SE> 271,538,000
<TOTAL-LIABILITY-AND-EQUITY> 427,179,000
<SALES> 88,982,000
<TOTAL-REVENUES> 88,982,000
<CGS> 89,478,000
<TOTAL-COSTS> 89,478,000
<OTHER-EXPENSES> 5,161,000<F1>
<LOSS-PROVISION> 671,000
<INTEREST-EXPENSE> 147,000
<INCOME-PRETAX> (15,506,000)
<INCOME-TAX> (4,032,000)
<INCOME-CONTINUING> (11,474,000)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (11,474,000)
<EPS-PRIMARY> (0.58)
<EPS-DILUTED> (0.58)
<FN>
<F1>OTHER EXPENSES REFLECT RESEARCH AND DEVELOPMENT EXPENSES.
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS OF
HUTCHINSON TECHNOLOGY INCORPORATED FOR THE PERIODS SPECIFIED BELOW AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> YEAR YEAR YEAR
<FISCAL-YEAR-END> SEP-24-1995 SEP-29-1996 SEP-28-1997
<PERIOD-START> SEP-26-1994 SEP-25-1995 SEP-30-1996
<PERIOD-END> SEP-24-1995 SEP-29-1996 SEP-28-1997
<CASH> 30,479 22,884 98,340
<SECURITIES> 1,190 3,064 20,211
<RECEIVABLES> 37,058 46,803 51,467
<ALLOWANCES> 1,924 2,148 2,182
<INVENTORY> 13,298 17,235 27,189
<CURRENT-ASSETS> 90,492 108,665 243,346
<PP&E> 209,041 264,678 348,071
<DEPRECIATION> 115,225 142,972 172,818
<TOTAL-ASSETS> 190,898 238,983 429,839
<CURRENT-LIABILITIES> 36,208 46,563 70,190
<BONDS> 33,445 53,185 72,862
0 0 0
0 0 0
<COMMON> 163 164 196
<OTHER-SE> 119,582 133,520 282,762
<TOTAL-LIABILITY-AND-EQUITY> 190,898 238,983 429,839
<SALES> 299,998 353,186 453,232
<TOTAL-REVENUES> 299,998 353,186 453,232
<CGS> 226,235 273,616 335,953
<TOTAL-COSTS> 226,235 273,616 335,953
<OTHER-EXPENSES> 15,041<F1> 27,651<F1> 20,185<F1>
<LOSS-PROVISION> 1,799 1,835 1,348
<INTEREST-EXPENSE> 2,636 2,108 3,143
<INCOME-PRETAX> 27,747 17,253 53,716
<INCOME-TAX> 6,669 3,451 11,807
<INCOME-CONTINUING> 21,078 13,802 41,909
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 21,078 13,802 41,909
<EPS-PRIMARY> 1.31 .84 2.29
<EPS-DILUTED> 1.28 .82 2.21
<FN>
<F1>OTHER EXPENSES REFLECT RESEARCH AND DEVELOPMENT EXPENSES.
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS OF
HUTCHINSON TECHNOLOGY INCORPORATED FOR THE PERIODS SPECIFIED BELOW AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS
<FISCAL-YEAR-END> SEP-29-1996 SEP-29-1996 SEP-29-1996
<PERIOD-START> SEP-25-1995 SEP-25-1995 SEP-25-1995
<PERIOD-END> DEC-24-1995 MAR-24-1996 JUN-23-1996
<CASH> 26,634 18,535 24,568
<SECURITIES> 2,040 2,061 2,061
<RECEIVABLES> 47,667 46,180 48,817
<ALLOWANCES> 1,840 2,161 2,412
<INVENTORY> 16,064 18,789 18,729
<CURRENT-ASSETS> 95,693 89,632 98,664
<PP&E> 222,315 242,916 246,281
<DEPRECIATION> 121,446 128,211 135,062
<TOTAL-ASSETS> 205,531 212,372 217,925
<CURRENT-LIABILITIES> 44,298 50,197 50,570
<BONDS> 32,105 30,680 30,580
0 0 0
0 0 0
<COMMON> 163 163 163
<OTHER-SE> 122,465 126,832 132,112
<TOTAL-LIABILITY-AND-EQUITY> 205,531 212,372 217,925
<SALES> 83,332 169,878 261,296
<TOTAL-REVENUES> 83,332 169,878 261,296
<CGS> 61,888 130,555 200,187
<TOTAL-COSTS> 61,888 130,555 200,187
<OTHER-EXPENSES> 9,053 <F1> 12,803 <F1> 19,042 <F1>
<LOSS-PROVISION> 296 986 1,489
<INTEREST-EXPENSE> 480 887 1,369
<INCOME-PRETAX> 3,669 9,222 15,885
<INCOME-TAX> 807 2,028 3,492
<INCOME-CONTINUING> 2,862 7,194 12,393
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 2,862 7,194 12,393
<EPS-PRIMARY> .18 .44 .76
<EPS-DILUTED> .17 .43 .74
<FN>
<F1> OTHER EXPENSES REFLECT RESEARCH AND DEVELOPMENT EXPENSES.
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS OF
HUTCHINSON TECHNOLOGY INCORPORATED FOR THE PERIODS SPECIFIED BELOW AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS
<FISCAL-YEAR-END> SEP-28-1997 SEP-28-1997 SEP-28-1997
<PERIOD-START> SEP-30-1996 SEP-30-1996 SEP-30-1996
<PERIOD-END> DEC-29-1996 MAR-30-1997 JUN-29-1997
<CASH> 54,482 143,993 120,249
<SECURITIES> 3,169 20,262 26,262
<RECEIVABLES> 61,453 62,133 64,765
<ALLOWANCES> 2,781 3,283 2,853
<INVENTORY> 15,383 17,860 20,720
<CURRENT-ASSETS> 154,860 270,436 266,465
<PP&E> 276,094 294,753 315,402
<DEPRECIATION> 150,225 157,491 165,094
<TOTAL-ASSETS> 289,532 415,121 425,358
<CURRENT-LIABILITIES> 62,117 69,183 65,879
<BONDS> 76,845 74,937 74,737
0 0 0
0 0 0
<COMMON> 164 195 196
<OTHER-SE> 144,873 267,290 281,049
<TOTAL-LIABILITY-AND-EQUITY> 289,532 415,121 425,358
<SALES> 106,906 231,165 352,878
<TOTAL-REVENUES> 106,906 231,165 352,878
<CGS> 75,794 161,373 249,907
<TOTAL-COSTS> 75,794 161,373 249,907
<OTHER-EXPENSES> 5,739<F1> 10,486<F1> 15,157<F1>
<LOSS-PROVISION> 711 1,278 1,435
<INTEREST-EXPENSE> 858 1,867 2,626
<INCOME-PRETAX> 13,903 35,640 53,193
<INCOME-TAX> 2,786 7,840 11,695
<INCOME-CONTINUING> 11,117 27,800 41,498
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 11,117 27,800 41,498
<EPS-PRIMARY> .68 1.64 2.33
<EPS-DILUTED> .65 1.57 2.24
<FN>
<F1>OTHER EXPENSES REFLECT RESEARCH AND DEVELOPMENT EXPENSES.
</FN>
</TABLE>
