##### Table of Contents



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For
the quarterly period endedDECEMBER 24, 2006
 OR
 o
    
    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
  MINNESOTA
    
    41-0901840(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)
 40 WEST HIGHLAND PARK DRIVE N.E., 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)
  þ o
  þ o o
  o þ




---



TABLE OF CONTENTS  PART I. FINANCIAL INFORMATIONITEM 1. FINANCIAL STATEMENTSITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKITEM 4. CONTROLS AND PROCEDURESPART II. OTHER INFORMATIONITEM 1. LEGAL PROCEEDINGSITEM 1A. RISK FACTORSITEM 6. EXHIBITSSIGNATURESINDEX TO EXHIBITSCertificationCertificationSection 1350 Certification    Table of Contents  
 PART I. FINANCIAL INFORMATION
 
  HUTCHINSON TECHNOLOGY INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS  UNAUDITED
 December 24,
    
    
    September 24,2006
    
    
    2006ASSETSCurrent assets:Cash and cash equivalents
    
    $
    21,111
    
    
    $
    40,331Securities available for sale
    
    
    273,759
    
    
    
    250,110Trade receivables, net
    
    
    99,593
    
    
    
    95,391Other receivables
    
    
    14,617
    
    
    
    14,409Inventories
    
    
    76,223
    
    
    
    81,298Deferred tax assets (Note 7)
    
    
    7,271
    
    
    
    8,021Other current assets (Note 8)
    
    
    7,286
    
    
    
    7,161Total current assets
    
    
    499,860
    
    
    
    496,721Property, plant and equipment, net
    
    
    480,955
    
    
    
    472,163Deferred tax assets (Note 7)
    
    
    62,470
    
    
    
    57,867Other assets (Note 8)
    
    
    16,446
    
    
    
    18,333$
    1,059,731
    
    
    $
    1,045,084LIABILITIES AND SHAREHOLDERS INVESTMENTCurrent liabilities:Current maturities of long-term debt
    
    $
    1,274
    
    
    $
    1,252Accounts payable
    
    
    44,071
    
    
    
    45,090Accrued expenses
    
    
    18,012
    
    
    
    14,819Accrued compensation
    
    
    21,630
    
    
    
    21,338Total current liabilities
    
    
    84,987
    
    
    
    82,499Convertible subordinated notes
    
    
    375,000
    
    
    
    375,000Long-term debt, less current portion
    
    
    4,962
    
    
    
    5,291Other long-term liabilities
    
    
    3,047
    
    
    
    3,570Shareholders investment:Common stock, $.01 par value, 100,000,000
shares authorized, 25,945,000 and
25,638,000 issued and outstanding
    
    
    259
    
    
    
    256Additional paid-in capital
    
    
    405,202
    
    
    
    398,047Accumulated other comprehensive loss
    
    
    (182
    )
    
    
    (222
    )Accumulated earnings
    
    
    186,456
    
    
    
    180,643Total shareholders investment
    
    
    591,735
    
    
    
    578,724$
    1,059,731
    
    
    $
    1,045,084
  2




---



##### Table of Contents



HUTCHINSON TECHNOLOGY INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  UNAUDITED
 Thirteen Weeks EndedDecember 24,
    
    
    December 25,2006
    
    
    2005Net sales
    
    $
    188,882
    
    
    $
    184,560Cost of sales
    
    
    153,272
    
    
    
    144,960Gross profit
    
    
    35,610
    
    
    
    39,600Research and development expenses
    
    
    14,109
    
    
    
    12,747Selling, general and administrative expenses
    
    
    19,517
    
    
    
    22,513Income from operations
    
    
    1,984
    
    
    
    4,340Other income, net
    
    
    1,810
    
    
    
    1,252Interest income
    
    
    3,689
    
    
    
    2,065Interest expense
    
    
    (2,309
    )
    
    
    (501
    )Income before income taxes
    
    
    5,174
    
    
    
    7,156Provision (benefit) for income taxes
    
    
    (639
    )
    
    
    1,166Net income
    
    $
    5,813
    
    
    $
    5,990Basic earnings per share
    
    $
    0.22
    
    
    $
    0.24Diluted earnings per share
    
    $
    0.22
    
    
    $
    0.22Weighted average common shares outstanding
    
    
    25,869
    
    
    
    25,535Weighted average common and diluted shares outstanding
    
    
    30,974
    
    
    
    30,798
  3




---



##### Table of Contents



HUTCHINSON TECHNOLOGY INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  UNAUDITED
 Thirteen Weeks EndedDecember 24,
    
    
    December 25,2006
    
    
    2005OPERATING ACTIVITIES:Net income
    
    $
    5,813
    
    
    $
    5,990Adjustments to reconcile net income to cash
provided by operating activities:Depreciation and amortization
    
    
    28,158
    
    
    
    27,526Stock-based compensation
    
    
    916
    
    
    
    1,140Provision (benefit) for deferred taxes (Note 7)
    
    
    (3,875
    )
    
    
    405Loss on disposal of assets
    
    
    
    
    
    
    61Changes in operating assets and liabilities (Note 11)
    
    
    5,224
    
    
    
    (9,309
    )Cash provided by operating activities
    
    
    36,236
    
    
    
    25,813INVESTING ACTIVITIES:Capital expenditures
    
    
    (36,875
    )
    
    
    (73,397
    )Purchases of marketable securities
    
    
    (437,166
    )
    
    
    (148,583
    )Sales/maturities of marketable securities
    
    
    413,534
    
    
    
    182,351Cash used for investing activities
    
    
    (60,507
    )
    
    
    (39,629
    )FINANCING ACTIVITIES:Net proceeds from issuance of common stock
    
    
    5,358
    
    
    
    2,328Repayment of long-term debt
    
    
    (307
    )
    
    
    (429
    )Cash provided by financing activities
    
    
    5,051
    
    
    
    1,899Net decrease in cash and cash equivalents
    
    
    (19,220
    )
    
    
    (11,917
    )Cash and cash equivalents at beginning of period
    
    
    40,331
    
    
    
    33,733Cash and cash equivalents at end of period
    
    $
    21,111
    
    
    $
    21,816
  4




---



##### Table of Contents



HUTCHINSON TECHNOLOGY INCORPORATED
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS  UNAUDITED
 When we refer to we, us, the company or HTI, we mean Hutchinson Technology Incorporated and
its subsidiaries. Unless otherwise indicated, references to 2007 mean our fiscal year ending
September 30, 2007, references to 2006 mean our fiscal year ended September 24, 2006, references
to 2005 mean our fiscal year ended September 25, 2005, references to 2004 mean our fiscal year
ended September 26, 2004, references to 2003 mean our fiscal year ended September 28, 2003, and
references to 2002 mean our fiscal year ended September 29, 2002.
 (1) BASIS OF PRESENTATION
  (2) ACCOUNTING PRONOUNCEMENTS
    5




---



##### Table of Contents



Thirteen Weeks Ended December 25, 2005As Reported
    
    Adjustment
    
    As AdjustedNet sales
    
    $
    184,627
    
    
    $
    (67
    )
    
    $
    184,560Provision for income taxes
    
    
    1,177
    
    
    
    (11
    )
    
    
    1,166Net income
    
    
    6,046
    
    
    
    (56
    )
    
    
    5,990Earnings per share:Basic
    
    
    0.24
    
    
    
    0.00
    
    
    
    0.24Diluted
    
    
    0.22
    
    
    
    0.00
    
    
    
    0.22
 Thirteen Weeks Ended March 26, 2006
    
    Twenty-Six Weeks Ended March 26, 2006As Reported
    
    Adjustment
    
    As Adjusted
    
    As Reported
    
    Adjustment
    
    As AdjustedNet sales
    
    $
    185,926
    
    
    $
    469
    
    
    $
    186,395
    
    
    $
    370,553
    
    
    $
    402
    
    
    $
    370,955Provision for income taxes
    
    
    1,361
    
    
    
    73
    
    
    
    1,434
    
    
    
    2,538
    
    
    
    62
    
    
    
    2,600Net income
    
    
    7,873
    
    
    
    396
    
    
    
    8,269
    
    
    
    13,919
    
    
    
    340
    
    
    
    14,259Earnings per share:Basic
    
    
    0.31
    
    
    
    0.01
    
    
    
    0.32
    
    
    
    0.54
    
    
    
    0.01
    
    
    
    0.55Diluted
    
    
    0.28
    
    
    
    0.01
    
    
    
    0.29
    
    
    
    0.50
    
    
    
    0.01
    
    
    
    0.51
 Thirteen Weeks Ended June 25, 2006
    
    Thirty-Nine Weeks Ended June 25, 2006As Reported
    
    Adjustment
    
    As Adjusted
    
    As Reported
    
    Adjustment
    
    As AdjustedNet sales
    
    $
    169,599
    
    
    $
    380
    
    
    $
    169,979
    
    
    $
    540,152
    
    
    $
    782
    
    
    $
    540,934Provision (benefit) for
income taxes
    
    
    (163
    )
    
    
    22
    
    
    
    (141
    )
    
    
    2,375
    
    
    
    84
    
    
    
    2,459Net income
    
    
    5,838
    
    
    
    358
    
    
    
    6,196
    
    
    
    19,756
    
    
    
    698
    
    
    
    20,454Earnings per share:Basic
    
    
    0.23
    
    
    
    0.01
    
    
    
    0.24
    
    
    
    0.77
    
    
    
    0.02
    
    
    
    0.79Diluted
    
    
    0.22
    
    
    
    0.01
    
    
    
    0.23
    
    
    
    0.72
    
    
    
    0.02
    
    
    
    0.74
  (3) BUSINESS AND CUSTOMERS
  6




---



##### Table of Contents



Percentage of Net SalesThirteen Weeks EndedDecember 24,
    
    December 25,2006
    
    2005Five Largest Customers
    
    
    87
    %
    
    
    87
    %Sales to Major Customers:SAE Magnetics, Ltd./TDK
    
    
    28
    %
    
    
    28
    %Seagate Technology LLC
    
    
    23
    %
    
    
    12
    %Western Digital Corporation
    
    
    17
    %
    
    
    17
    %Alps Electric Co., Ltd.
    
    
    12
    %
    
    
    22
    %Fujitsu Limited
    
    
    7
    %
    
    
    6
    %Innovex, Inc.
    
    
    6
    %
    
    
    8
    %
 (4) TRADE RECEIVABLES
   Increases in the
    
    Reductions in theAllowance Related
    
    Allowance forSeptember 24,
    
    to Warranties
    
    Returns Under
    
    December 24,2006
    
    Issued
    
    Warranties
    
    2006$1,065
    
    $931
    
    $(893)
    
    $1,103
 7




---



##### Table of Contents



(5) INVENTORIES
  December 24,
    
    
    September 24,2006
    
    
    2006Raw materials
    
    $
    24,169
    
    
    $
    21,868Work in process
    
    
    12,867
    
    
    
    17,698Finished goods
    
    
    39,187
    
    
    
    41,732$
    76,223
    
    
    $
    81,298
 (6) EARNINGS PER SHARE
  Thirteen Weeks EndedDecember 24,
    
    
    December 25,2006
    
    
    2005Net income
    
    $
    5,813
    
    
    $
    5,990Plus: interest expense on convertible subordinated notes
    
    
    1,008
    
    
    
    1,008Less: additional profit-sharing expense and income tax provisions
    
    
    (150
    )
    
    
    (342
    )Net income available to common shareholders
    
    $
    6,671
    
    
    $
    6,656Weighted-average common shares outstanding
    
    
    25,869
    
    
    
    25,535Dilutive potential common shares
    
    
    5,105
    
    
    
    5,263Weighted-average common and diluted shares outstanding
    
    
    30,974
    
    
    
    30,798Basic earnings per share
    
    $
    0.22
    
    
    $
    0.24Diluted earnings per share
    
    $
    0.22
    
    
    $
    0.22
 8




---



##### Table of Contents



(7) INCOME TAXES
  December 24,
    
    
    September 24,2006
    
    
    2006Current deferred tax assets:Receivable allowance
    
    $
    572
    
    
    $
    592Inventories
    
    
    4,084
    
    
    
    3,722Accruals and other reserves
    
    
    2,615
    
    
    
    3,707Total current deferred tax assets
    
    
    7,271
    
    
    
    8,021Long-term deferred tax assets:Property, plant and equipment
    
    
    32,063
    
    
    
    28,860Deferred income
    
    
    2,852
    
    
    
    1,317Tax credits
    
    
    22,431
    
    
    
    19,957Net operating loss carryforwards
    
    
    10,391
    
    
    
    13,000Valuation allowance
    
    
    (5,267
    )
    
    
    (5,267
    )Total long-term deferred tax assets
    
    
    62,470
    
    
    
    57,867Total deferred tax assets
    
    $
    69,741
    
    
    $
    65,888
    9




---



##### Table of Contents



(8) OTHER ASSETS
  (9) LONG-TERM DEBT
    (10) SHAREHOLDERS EQUITY
  10




---



##### Table of Contents



(11) SUPPLEMENTARY CASH FLOW INFORMATION
 Thirteen Weeks EndedDecember 24,
    
    
    December 25,2006
    
    
    2005Changes in operating assets and liabilities:Receivables, net
    
    $
    (4,410
    )
    
    $
    (18,173
    )Inventories
    
    
    5,075
    
    
    
    (2,911
    )Prepaid and other assets
    
    
    175
    
    
    
    (1,756
    )Accounts payable and accrued expenses
    
    
    4,907
    
    
    
    13,753Other non-current liabilities
    
    
    (523
    )
    
    
    (222
    )$
    5,224
    
    
    $
    (9,309
    )Cash paid for:Interest (net of amount capitalized)
    
    $
    150
    
    
    $
    Income taxes
    
    
    902
    
    
    
    6Non-cash investing activities:Capital expenditures in accounts payable
    
    $
    5,853
    
    
    $
    14,087
   Purchase price of building and related equipment
    
    $
    12,924Cash paid for building and related equipment
    
    
    (5,069
    )Mortgage assumed
    
    $
    7,855
  (12) STOCK-BASED COMPENSATION
   11




---



##### Table of Contents



Thirteen Weeks EndedDecember 24,
    
    December 25,2006
    
    2005Risk-free interest rate
    
    
    4.7
    %
    
    
    4.4
    %Expected volatility
    
    
    45.0
    %
    
    
    45.0
    %Expected life (in years)
    
    
    7.6
    
    
    
    7.3Dividend yield
    
    
    
    
    
    
    
   Weighted-AverageRemainingNumber of
    
    Weighted-Average
    
    Contractual
    
    AggregateShares
    
    Exercise Price ($)
    
    Life (yrs.)
    
    Intrinsic Value ($)Outstanding at September 24, 2006
    
    
    3,109,546
    
    
    
    25.08
    
    
    
    5.3
    
    
    
    Granted
    
    
    509,600
    
    
    
    23.05Exercised
    
    
    (269,700
    )
    
    
    17.39Expired
    
    
    (2,750
    )
    
    
    28.43Outstanding at December 24, 2006
    
    
    3,346,696
    
    
    
    25.39
    
    
    
    6.2
    
    
    
    Options exercisable at December 24, 2006
    
    
    2,389,596
    
    
    
    25.49
    
    
    
    4.8
    
    
    
    
 12




---



##### Table of Contents



Options Outstanding
    
    Options ExercisableWeighted-AverageRemainingRange of
    
    
    
    Contractual
    
    Weighted-Average
    
    Number
    
    Weighted-AverageExercise Prices ($)
    
    Number Outstanding
    
    Life (yrs.)
    
    Exercise Price ($)
    
    Exercisable
    
    Exercise Price ($)14.81-20.00
    
    608,690
    
    3.4
    
    18.85
    
    608,690
    
    18.8520.01-25.00
    
    1,418,807
    
    6.5
    
    23.42
    
    909,207
    
    23.6225.01-30.00
    
    620,194
    
    7.0
    
    28.08
    
    175,694
    
    29.5830.01-45.06
    
    699,005
    
    7.2
    
    32.71
    
    696,005
    
    32.72Total
    
    3,346,696
    
    6.2
    
    25.39
    
    2,389,596
    
    25.49
 (13) LEGAL CONTINGENCIES
 Securities Litigation
   Derivative Litigation
  13




---



##### Table of Contents



Other Litigation
    (14) OTHER MATTERS
   (15) SEGMENT REPORTING
   14




---



##### Table of Contents



Thirteen Weeks EndedDecember 24,
    
    
    December 25,2006
    
    
    2005Net sales:Disk Drive Components Division
    
    $
    188,800
    
    
    $
    184,587BioMeasurement Division
    
    
    82
    
    
    
    53$
    188,882
    
    
    $
    184,560Income (loss) from operations:Disk Drive Components Division
    
    $
    5,665
    
    
    $
    7,175BioMeasurement Division
    
    
    (3,681
    )
    
    
    (2,835
    )$
    1,984
    
    
    $
    4,340
  15




---



##### Table of Contents



When we refer to we, us, HTI or the company, we mean Hutchinson Technology Incorporated and
its subsidiaries. Unless otherwise indicated, references to 2007 mean our fiscal year ending
September 30, 2007, references to 2006 mean our fiscal year ended September 24, 2006, references
to 2005 mean our fiscal year ended September 25, 2005, references to 2004 mean our fiscal year
ended September 26, 2004, references to 2003 mean our fiscal year ended September 28, 2003, and
references to 2002 mean our fiscal year ended September 29, 2002.
 GENERAL
     16




---



##### Table of Contents




    
    demand or customer requirements;
    
    utilization of existing or newly added production capacity;
    
    manufacturing yields or efficiencies;
    
    production and engineering costs associated with production of new products and features;
    
    product and feature mix;
    
    selling prices;
    
    infrastructure and expedited production and shipping costs; and
    
    costs of materials.
 17




---



##### Table of Contents



18




---



##### Table of Contents



RESULTS OF OPERATIONS
 Thirteen Weeks Ended December 24, 2006 vs. Thirteen Weeks Ended December 25, 2005
   19




---



##### Table of Contents



20




---



##### Table of Contents



LIQUIDITY AND CAPITAL RESOURCES
      21




---



##### Table of Contents



22




---



##### Table of Contents



CRITICAL ACCOUNTING POLICIES
  Revenue Recognition
     Accounts Receivable
   23




---



##### Table of Contents



Inventory Valuation
   Long-Lived Assets
  Income Taxes
   24




---



##### Table of Contents



RECENT ACCOUNTING PRONOUNCEMENTS
      Thirteen Weeks Ended December 25, 2005As Reported
    
    Adjustment
    
    As AdjustedNet sales
    
    $
    184,627
    
    
    $
    (67
    )
    
    $
    184,560Provision for income taxes
    
    
    1,177
    
    
    
    (11
    )
    
    
    1,166Net income
    
    
    6,046
    
    
    
    (56
    )
    
    
    5,990Earnings per share:Basic
    
    
    0.24
    
    
    
    0.00
    
    
    
    0.24Diluted
    
    
    0.22
    
    
    
    0.00
    
    
    
    0.22
 Thirteen Weeks Ended March 26, 2006
    
    Twenty-Six Weeks Ended March 26, 2006As Reported
    
    Adjustment
    
    As Adjusted
    
    As Reported
    
    Adjustment
    
    As AdjustedNet sales
    
    $
    185,926
    
    
    $
    469
    
    
    $
    186,395
    
    
    $
    370,553
    
    
    $
    402
    
    
    $
    370,955Provision for income taxes
    
    
    1,361
    
    
    
    73
    
    
    
    1,434
    
    
    
    2,538
    
    
    
    62
    
    
    
    2,600Net income
    
    
    7,873
    
    
    
    396
    
    
    
    8,269
    
    
    
    13,919
    
    
    
    340
    
    
    
    14,259Earnings per share:Basic
    
    
    0.31
    
    
    
    0.01
    
    
    
    0.32
    
    
    
    0.54
    
    
    
    0.01
    
    
    
    0.55Diluted
    
    
    0.28
    
    
    
    0.01
    
    
    
    0.29
    
    
    
    0.50
    
    
    
    0.01
    
    
    
    0.51
 Thirteen Weeks Ended June 25, 2006
    
    Thirty-Nine Weeks Ended June 25, 2006As Reported
    
    Adjustment
    
    As Adjusted
    
    As Reported
    
    Adjustment
    
    As AdjustedNet sales
    
    $
    169,599
    
    
    $
    380
    
    
    $
    169,979
    
    
    $
    540,152
    
    
    $
    782
    
    
    $
    540,934Provision (benefit) for
income taxes
    
    
    (163
    )
    
    
    22
    
    
    
    (141
    )
    
    
    2,375
    
    
    
    84
    
    
    
    2,459Net income
    
    
    5,838
    
    
    
    358
    
    
    
    6,196
    
    
    
    19,756
    
    
    
    698
    
    
    
    20,454Earnings per share:Basic
    
    
    0.23
    
    
    
    0.01
    
    
    
    0.24
    
    
    
    0.77
    
    
    
    0.02
    
    
    
    0.79Diluted
    
    
    0.22
    
    
    
    0.01
    
    
    
    0.23
    
    
    
    0.72
    
    
    
    0.02
    
    
    
    0.74
 25




---



##### Table of Contents



MARKET TRENDS
     OTHER MATTERS
   FORWARD-LOOKING STATEMENTS
  26




---



##### Table of Contents



27




---



##### Table of Contents



28




---



##### Table of Contents



EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
  CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
  29




---



##### Table of Contents



PART II. OTHER INFORMATION
 
  SECURITIES LITIGATION
   DERIVATIVE LITIGATION
  OTHER LITIGATION
  30




---



##### Table of Contents



31




---



##### Table of Contents



32




---



##### Table of Contents



(A) EXHIBITS :
 Unless otherwise indicated, all documents incorporated herein by reference to a document filed with
the SEC pursuant to the Exchange Act, are located under SEC file number 0-14709.
 3.1
    
    Amended and Restated Articles of Incorporation of HTI (incorporated by reference to Exhibit
3.1 to HTIs Quarterly Report on Form 10-Q for the quarter ended 12/29/02).3.2
    
    Restated By-Laws of HTI (incorporated by reference to Exhibit 3.2 to HTIs Quarterly Report
on Form 10-Q for the quarter ended 6/27/04).10.1
    
    Description of Non-employee Director Compensation (incorporated by reference to Exhibit 10.14
to HTIs Annual Report on Form 10-K for the year ended 9/24/06).31.1
    
    Rule 13a-14(a)/15d-14(a) Certifications of Chief Executive Officer.31.2
    
    Rule 13a-14(a)/15d-14(a) Certifications of Chief Financial Officer.32
    
    Section 1350 Certifications.
 33




---



##### Table of Contents



SIGNATURES
  HUTCHINSON TECHNOLOGY INCORPORATEDDate:      January 29, 2007
    By
    /s/ Wayne M. FortunWayne M. FortunPresident and Chief Executive OfficerDate:      January 29, 2007
    By
    /s/ John A. InglemanJohn A. InglemanSenior Vice President and Chief Financial Officer 34




---



##### Table of Contents



INDEX TO EXHIBITS
 ExhibitNo.
    
    
    
    Page3.1
    
    Amended and Restated Articles of Incorporation of HTI
(incorporated by reference to Exhibit 3.1 to HTIs Quarterly
Report on Form 10-Q for the quarter ended 12/29/02).
    
    Incorporated by Reference3.2
    
    Restated By-Laws of HTI (incorporated by reference to Exhibit 3.2
to HTIs Quarterly Report on Form 10-Q for the quarter ended
6/27/04).
    
    Incorporated by Reference10.1
    
    Description of Non-employee Director Compensation (incorporated by
reference to Exhibit 10.14 to HTIs Annual Report on Form 10-K for
the year ended 9/24/06).
    
    Incorporated by Reference31.1
    
    Rule 13a-14(a)/15d-14(a) Certifications of Chief Executive Officer.
    
    Filed Electronically31.2
    
    Rule 13a-14(a)/15d-14(a) Certifications of Chief Financial Officer.
    
    Filed Electronically32
    
    Section 1350 Certifications.
    
    Filed Electronically
 35