Hutchinson Technology Common Size Analysis Balance Sheet

2008
In thousands
Amount
Percent
Assets
Current Assets
Cash
$ 62,309.00
7.1%
Short-term investements
Securities available for sale
$ 108,944.00
12.4%
Trade Receivables, net
$ 100,928.00
11.5%
Other Receivables
$ 8,847.00
1.0%
Inventories
$ 76,459.00
8.7%
Deferred tax assets net
$
0.0%
Other current assets
$ 7,326.00
0.8%
Total Current Assets
$ 364,813.00
41.4%

2009

Fiscal year for Hutch Tech runs to late September

PP&E
Other Intangible Assets
Long-term Investments
Long-term deferred tax assets
Other Long Term Assets
Total Assets

$ 415,088.00
$
$ 92,166.00
$
$ 9,220.00
$ 881,287.00

Liabilities and Shareholders Equity

Current Liabilities
Current maturities of long-term debt
Accounts Payable
Accrued Compensation
Accrued income taxes
Deferred tax liabilities
Other accrued expenses
Total current liabilities

$
$
$
$
$
$
$

1,444.00
26,519.00
21,178.00
14,537.00
63,678.00

Long-term Debt
Convertible subordinated notes
Other long-term liabilities
Shareholders Investment
Additional paid-in capital
Accumulated Earnings
Total Liabilities

$
$
$
$
$
$
$

2,498.00
375,000.00
3,009.00
229.00
371,965.00
65,777.00
818,478.00

Shareholders Equity
Accumulated other comprehensive loss
Total liabilities and shareholders' equity

$ 437,102.00
$
(869.00)
$ 881,287.00

47.1%
0.0%
10.5%
0.0%
1.0%
100.0%

Amount

$
$
$
$
$
$
$
$
$

106,391.00
96,316.00
63,448.00
8,445.00
46,878.00
4,932.00
326,410.00

2010
Percent

Amount

16.7% $ 55,639.00
$ 48,899.00
0.0% $
10.0% $ 47,629.00
$
7,849.00
7.4% $ 53,568.00
0.0% $
0.8% $
2,353.00
51.4% $ 215,937.00

$ 279,336.00
$
$ 24,316.00
$
$ 5,425.00
$ 635,487.00

44.0%
0.0%
3.8%
0.0%
0.9%
100.0%

0.2% $ 102,804.00
3.0% $ 17,536.00
2.4% $ 13,139.00
$
$
1.6% $ 11,183.00
7.2% $ 144,662.00

16.2%
2.8%
2.1%
0.0%
0.0%
1.8%
22.8%

0.3%
42.6%
0.3%
0.0%

$
$
$
$
$
7.5% $
92.9% $

946.00
197,500.00
1,705.00
234.00
377,713.00
(89,776.00)
488,322.00

$ 290,674.00
-0.1% $ 2,503.00
100.0% $ 635,487.00

0.1%
31.1%
0.3%
0.0%

2011
Percent

Amount

2012
Percent

Amount

11.6% $ 57,554.00
$
1,612.00
0.0% $
9.9% $ 44,998.00
$
7,064.00
11.2% $ 55,018.00
0.0% $
0.5% $
4,312.00
45.0% $ 170,558.00

14.4% $ 53,653.00
$
1,200.00
0.0% $
11.2% $ 21,438.00
$
3,880.00
13.7% $ 41,432.00
0.0% $
1.1% $
7,203.00
42.5% $ 128,806.00

$ 258,233.00
$
$
-

53.8% $ 223,134.00
0.0% $
0.0% $
-

$
5,542.00
$ 479,712.00

1.2% $
7,313.00
100.0% $ 401,005.00

55.6% $ 202,468.00
0.0% $
0.0% $
$
1.8% $
5,014.00
100.0% $ 336,288.00

$
$
$
$
$
$
$

$
$
$
$
$
$
76.8% $

1,280.00
15,788.00
12,911.00
8,593.00
38,572.00
271.00
174,920.00
1,271.00
234.00
422,089.00
(158,521.00)
440,264.00

$ 264,678.00
0.4% $
876.00
100.0% $ 479,712.00

Percent

5 Year Average
Percent

16.0%

13.1%

0.0%
6.4%
12.3%
0.0%
2.1%
38.3%

2.5%
9.8%
0.2%
10.7%
0.0%
1.1%
43.7%

60.2%
0.0%
0.0%
0.0%
1.5%
100.0%

52.1%
0.0%
2.9%
0.0%
1.3%
100.0%

0.3%
3.3%
2.7%
0.0%
0.0%
1.8%
8.0%

$
$
$
$
$
$
$

10,681.00
18,373.00
12,431.00
7,759.00
49,244.00

2.7%
4.6%
3.1%
0.0%
0.0%
1.9%
12.3%

$
$
$
$
$
$
$

11,698.00
13,982.00
9,656.00
6,350.00
41,686.00

3.5%
4.2%
2.9%
0.0%
0.0%
1.9%
12.4%

4.6%
3.6%
2.6%
0.0%
0.0%
1.8%
12.5%

0.1%
36.5%
0.3%
0.0%
88.0%
-33.0%
91.8%

$
$
$
$
$
$
$

144,159.00
1,280.00
234.00
419,984.00
(214,086.00)
351,571.00

0.0%
35.9%
0.3%
0.1%
104.7%
-53.4%
87.7%

$
$
$
$
$
$
$

125,232.00
1,540.00
239.00
430,448.00
(262,728.00)
294,731.00

37.2%
0.0%
0.5%
0.1%
128.0%
-78.1%
87.6%

7.5%
29.2%
0.3%
0.0%
64.1%
87.4%

$ 167,830.00
0.0% $
(129.00)
100.0% $ 336,288.00

0.0%
100.0%

0.1%
100.0%

$ 206,322.00
0.2% $
190.00
100.0% $ 401,005.00

Hutchinson Technology Statement of Earnings

Fiscal year for Hutchinson Technology runs to late September

In Thousands except earnings per share data

Net Sales
Costs and expenses
Cost of products sold
Gross Profit
R&D
Selling, general and admin
Severance and other expenses
Litigation charge
Dispute settlement
Asset Impairment & other charges
Debt refinancing costs
Insurance recoveries
Total costs & Expenses
(Loss) income from operations
Other income, net
Gain on exstingquishment of long term debt
Interest income
Interest expense
Impairment of long-term investments
Earnings (Loss) from continuing operations before income taxes

2008
2009
2010
2011
2012
5 Year Average
Amount
Percentage Amount
Percentage Amount
Percentage
Amount
Percentage Amount
Percentage Percent
$ 631,619.00
100.0% $ 408,022.00
100.0% $ 347,189.00
100.0% $ 278,090.00
100.0% $ 248,589.00
100.0%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

546,139.00
85,480.00
39,711.00
73,303.00
1,061.00
2,003.00
576,737.00
(30,598.00)
2,172.00
10,519.00
(11,692.00)
(8,484.00)
(38,083.00)

86.5% $
$
6.3% $
11.6% $
0.2% $
0.3% $
0.0% $
0.0% $
0.0%
0.0%
91.3% $
-4.8% $
$
$
$
$
$
-6.0% $

Provision for income taxes

79,765.00

12.6% $

Net (loss) Income

$ (117,848.00)

Basic earnings per share:

Earnings from continuing operations
Net earnings

$
$

(4.83)
(4.83)

$
$

(6.70)
(6.70)

$
$

(2.52)
(2.52)

$
$

(2.38)
(2.38)

$
$

(2.06)
(2.06)

Diluted earnings per share

Earnings from continuing operations
Net earnings

$
$

(4.83)
(4.83)

$
$

(6.70)
(6.70)

$
$

(2.52)
(2.52)

$
$

(2.38)
(2.38)

$
$

(2.06)
(2.06)

Basic weighted average shares outstanding

Diluted weight average shares outstanding

24,411
24,411

400,488.00
7,534.00
26,776.00
54,880.00
29,586.00
71,809.00

576,005.00
(175,517.00)
1,536.00
21,614.00
3,184.00
(10,969.00)
4,390.00
(155,762.00)

98.2% $
$
6.6% $
13.5% $
7.3% $
0.0% $
0.0% $
17.6%
$
$
141.2% $
-43.0% $
$
$
$
$
$
-38.2% $

362,210.00
(47,986.00)
2,357.00
6.00
1,311.00
(15,876.00)
(319.00)
(60,507.00)

(209.00)

-0.1% $

(1,585.00)

-18.7% $ (155,553.00)

23214
23214

314,224.00
32,965.00
21,429.00
55,848.00
3,674.00
-

-38.1% $ (58,922.00)

23362
23362

90.5% $ 267,739.00
$ 10,351.00
6.2% $ 14,592.00
16.1% $ 40,844.00
$
6,745.00
0.0% $
0.0% $
0.0%
0.0%
112.8%
-13.8%

$
$
$
$
$
$
$
$
$
-17.4% $
-0.5% $

319,569.00
(51,830.00)
1,868.00
8,382.00
188.00
(15,065.00)
978.00
(55,479.00)
86.00

-17.0% $ (55,565.00)

23377
23377

96.3% $ 245,068.00
$
3,521.00
5.2% $ 16,474.00
14.7% $ 28,398.00
$
(711.00)
0.0% $
0.0% $
0.0%
0.0%
114.9%
-18.6%
0.7%
3.0%
0.1%
-5.4%
0.4%
-20.0%

$
$
$
$
$
$
$
$
$
$

0.0% $

4,127.00
(4,640.00)
285,195.00
(40,127.00)
1,646.00
5,897.00
131.00
(16,551.00)
567.00
(48,437.00)
205.00

-20.0% $ (48,642.00)

23565
23565

98.6%

94.0%

6.6%
11.4%

6.2%
13.5%
1.5%
0.1%
0.0%
3.5%
0.3%
-0.4%
115.0%

0.0%
0.0%
1.7%
-1.9%
114.7%
-16.1%
0.7%
2.4%
0.1%
-6.7%
0.2%
-19.5%

-20.2%

0.1%

2.4%

-19.6%

-22.7%

Hutchinson Technology Statement of Cash Flows

Fiscal year for Hutchinson Technology runs to late September
In Thousannds
Operating Activities:
Net earnings
Adjustments to reconcile net earnings
to net cash provided by operating activities:
Depreciation and amortization
Provision (benefit) for deferred taxes
(Gain) loss on short-and long-term investments
(Gain) Loss on disposal of assets
Asset impairment charge
Non-cash interest expense
Gain on extinguishment of debt
Impairement of long-term investments
Litigation Charge
Changes in operating assets and liabilities
Severence Expenses
Write-off of design costs
Stock-based compensation
Cash Provided by Operating Activities
Investing Activities:
Capital expenditures
Proceeds from the sale of PP&E
Change in restricted cash
Purchases of marketable securities
Sales and maturities of marketable securities
Net cash used in investing activities
Financing Activities:
Net proceeds from issuance of common stock
Proceeds from loan
Net proceeds from issuance of convertible subordinated notes
Repayment of revolving credit line
Repayment on short-term and long-term debt
Proceeds from private placement of debt
Debt refinancing costs
Debt issuance costs
Repurchase of common stock
Cash (used for) provided by financing activities
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year

2008
Amount

Percentage

$ (117,848.00)

$
$
$
$
$
$

111,856.00
81,554.00
-

$
$
$

8,484.00
2,003.00
(2,582.00)

$
$
$

5,976.00
89,443.00

(65,603.00)

$ (960,216.00)
$ 983,821.00
$ (41,998.00)

$
$

8,529.00
-

(1,346.00)

$
$
$
$
$
$

(57,721.00)
(50,538.00)
(2,200.00)
64,509.00
62,309.00

2009
Amount

Percentage

2010
Amount

Percentage

2011
Amount

Percentage analysis denominator for operating activities = Net Cash

-131.8% $ (155,553.00)
-806.0% $ (58,922.00)
-428.8% $ (55,565.00)

125.1% $
$
$
$
$
$
$
$
$
$
$
6.7% $
$

76,566.00
(4,390.00)
(1,762.00)
71,640.00
(21,614.00)
50,169.00
4,244.00
19,300.00

396.7% $
$
$
$
$
$
$
$
$
$
$
$
22.0% $
$

51,849.00
173.00
3,274.00
8,456.00
(6.00)
4,306.00
1,150.00
3,462.00
13,742.00

377.3% $ 48,086.00
$
$
(978.00)
$ 1,182.00
$
$ 7,576.00
$ (8,382.00)
$
$
$ 1,932.00
$ 1,741.00
$
25.2% $ 1,870.00
$ (2,538.00)

Percentage

2012
Amount

5 Year Average
Percentage

Percentage

2189.3% $

(48,642.00)

-127.7%

139.0%

-1894.6% $
$
$
$
$
$
$
$
$
$
$
$
-73.7% $
$

41,459.00
(567.00)
418.00
8,537.00
5,467.00
(5,897.00)
37,079.00
(1,741.00)
1,979.00
38,092.00

108.8%

-177.3%

5.2%

-2.9%

(27,880.00)

93.9%

37.0%

$
$
$
$

(2,799.00)
(2,813.00)
3,789.00
(29,703.00)

9.5%
-12.8%

1.9%
-358.1%

0.0%

0.0%

0.0%

0.4%

-69.2%

-84.1%

0.0%
0.0%

-1.2%
-18.5%
-35.9%
-11.5%

Percentage analysis denominator for operating activities = Net Cash used in investing activities
156.2% $
(1,624.00)
59.3% $ (31,382.00)
-81.9% $ (13,506.00)
-42.3%
$
$
$ (2,620.00)
$ (71,739.00)
$ (12,412.00)
-2342.5% $
(165.00)
6.0% $ 141,445.00
369.1% $ 60,440.00
189.5%
$
(2,740.00)
$ 38,324.00
$ 31,902.00

% Analysis for financing denominator = Net Cash used in Financing & Cash and Cash equivalents for changes in cash
$
1,508.00
$
55.00
$
2.00
$
$
55,699.00
$
$ 15,341.00
$ 301,362.00
0.0% $
0.0% $
(444.00)
-0.8% $ 1,621.00
2.8% $
$ (4,932.00)
$ (311,771.00)
-2.2% $ (110,957.00)
-104.3% $ (102,873.00)
-184.9% $ (34,370.00)
-59.7% $ (37,154.00)
$
39,400.00
$
(4,127.00)
0.0% $
0.0% $
0.0% $ (3,490.00)
-6.1% $
-92.6% $
0.0% $
0.0% $
0.0% $
-81.1% $ (53,750.00)
-50.5%
$ (27,449.00)
-47.7% $ (12,290.00)
-3.5% $
44,082.00
41.4% $ (50,752.00)
-91.2% $ 1,915.00
3.3% $
(3,901.00)
103.5% $
62,309.00
58.6% $ 106,391.00
191.2% $ 55,639.00
96.7% $
57,554.00
$ 106,391.00
$ 55,639.00
$ 57,554.00
$ 53,653.00

-7.3%