##### Table of Contents



UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
 (Mark One)
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended JUNE 29, 2008
 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
  Large accelerated filer o
    
    Accelerated filer þ

    Non-accelerated filer o (Do not check if a smaller reporting company)

    Smaller reporting company o
  o þ




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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 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDSITEM 6. EXHIBITSSIGNATURESINDEX TO EXHIBITSRule 13a-14(a)/15d-14(a) Certifications of Chief Executive OfficerRule 13a-14(a)/15d-14(a) Certifications of Chief Financial OfficerSection 1350 Certifications    Table of Contents  
 PART I. FINANCIAL INFORMATION
 
  HUTCHINSON TECHNOLOGY INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS  UNAUDITED
 June 29,
    
    
    September 30,2008
    
    
    2007ASSETSCurrent assets:Cash and cash equivalents
    
    $
    34,044
    
    
    $
    64,509Short-term investments (Note 4)
    
    
    146,314
    
    
    
    233,043Trade receivables, net
    
    
    87,023
    
    
    
    101,997Other receivables
    
    
    7,727
    
    
    
    20,529Inventories
    
    
    78,915
    
    
    
    61,183Deferred tax assets (Note 9)
    
    
    9,564
    
    
    
    8,582Other current assets (Note 10)
    
    
    7,946
    
    
    
    7,444Total current assets
    
    
    371,533
    
    
    
    497,287Long-term investments (Note 4)
    
    
    94,770
    
    
    
    Property, plant and equipment, net
    
    
    429,815
    
    
    
    457,883Deferred tax assets (Note 9)
    
    
    84,156
    
    
    
    79,008Other assets (Note 10)
    
    
    11,117
    
    
    
    15,811$
    991,391
    
    
    $
    1,049,989LIABILITIES AND SHAREHOLDERS INVESTMENTCurrent liabilities:Current maturities of long-term debt
    
    $
    1,418
    
    
    $
    1,344Accounts payable
    
    
    29,223
    
    
    
    29,528Accrued expenses
    
    
    17,606
    
    
    
    16,535Accrued compensation
    
    
    22,223
    
    
    
    21,257Total current liabilities
    
    
    70,470
    
    
    
    68,664Convertible subordinated notes
    
    
    375,000
    
    
    
    375,000Long-term debt, less current maturities
    
    
    2,869
    
    
    
    3,944Uncertain tax positions (Note 9)
    
    
    6,190
    
    
    
    Other long-term liabilities
    
    
    1,482
    
    
    
    2,834Shareholders investment:Common stock, $.01 par value, 100,000,000
shares authorized, 22,890,000 and 26,074,000
issued and outstanding
    
    
    229
    
    
    
    261Additional paid-in capital
    
    
    370,412
    
    
    
    411,349Accumulated other comprehensive (loss) gain
    
    
    (6,554
    )
    
    
    29Accumulated earnings
    
    
    171,293
    
    
    
    187,908Total shareholders investment
    
    
    535,380
    
    
    
    599,547$
    991,391
    
    
    $
    1,049,989
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HUTCHINSON TECHNOLOGY INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  UNAUDITED
 Thirteen Weeks Ended
    
    
    Thirty-Nine Weeks EndedJune 29,
    
    
    June 24,
    
    
    June 29,
    
    
    June 24,2008
    
    
    2007
    
    
    2008
    
    
    2007Net sales
    
    $
    150,398
    
    
    $
    156,686
    
    
    $
    467,319
    
    
    $
    516,249Cost of sales
    
    
    133,886
    
    
    
    135,707
    
    
    
    398,949
    
    
    
    429,699Gross profit
    
    
    16,512
    
    
    
    20,979
    
    
    
    68,370
    
    
    
    86,550Research and development expenses
    
    
    9,697
    
    
    
    14,524
    
    
    
    30,367
    
    
    
    44,830Selling, general and administrative expenses
    
    
    17,791
    
    
    
    19,096
    
    
    
    54,590
    
    
    
    57,627Severance and other expenses (Note 8)
    
    
    1,061
    
    
    
    8,728
    
    
    
    1,061
    
    
    
    8,728Litigation charge (Note 16)
    
    
    
    
    
    
    
    
    
    
    2,494
    
    
    
    Loss from operations
    
    
    (12,037
    )
    
    
    (21,369
    )
    
    
    (20,142
    )
    
    
    (24,635
    )Other income, net
    
    
    526
    
    
    
    648
    
    
    
    1,855
    
    
    
    3,418Interest income
    
    
    1,390
    
    
    
    3,748
    
    
    
    9,305
    
    
    
    11,316Interest expense
    
    
    (2,906
    )
    
    
    (2,606
    )
    
    
    (8,778
    )
    
    
    (7,452
    )Loss before income taxes
    
    
    (13,027
    )
    
    
    (19,579
    )
    
    
    (17,760
    )
    
    
    (17,353
    )Benefit for income taxes
    
    
    (4,642
    )
    
    
    (6,099
    )
    
    
    (5,428
    )
    
    
    (6,040
    )Net loss
    
    $
    (8,385
    )
    
    $
    (13,480
    )
    
    $
    (12,332
    )
    
    $
    (11,313
    )Basic loss per share
    
    $
    (0.36
    )
    
    $
    (0.52
    )
    
    $
    (0.50
    )
    
    $
    (0.44
    )Diluted loss per share
    
    $
    (0.36
    )
    
    $
    (0.52
    )
    
    $
    (0.50
    )
    
    $
    (0.44
    )Weighted-average common shares outstanding
    
    
    23,212
    
    
    
    26,027
    
    
    
    24,902
    
    
    
    25,961Weighted-average common and diluted shares
outstanding
    
    
    23,212
    
    
    
    26,027
    
    
    
    24,902
    
    
    
    25,961
  3




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HUTCHINSON TECHNOLOGY INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  UNAUDITED
 Thirty-Nine Weeks EndedJune 29,
    
    
    June 24,2008
    
    
    2007OPERATING ACTIVITIES:Net loss
    
    $
    (12,332
    )
    
    $
    (11,313
    )Adjustments to reconcile net loss to cash provided by
operating activities:Depreciation and amortization
    
    
    83,814
    
    
    
    85,596Stock-based compensation
    
    
    4,541
    
    
    
    3,461Benefit for deferred taxes (Note 9)
    
    
    (6,147
    )
    
    
    (8,724
    )Loss on disposal of assets
    
    
    670
    
    
    
    2Severance and other expenses (Note 8)
    
    
    
    
    
    
    8,728Litigation charge (Note 16)
    
    
    2,494
    
    
    
    Changes in operating assets and liabilities (Note 14)
    
    
    15,157
    
    
    
    3,935Cash provided by operating activities
    
    
    88,197
    
    
    
    81,685INVESTING ACTIVITIES:Capital expenditures
    
    
    (53,838
    )
    
    
    (87,026
    )Purchases of marketable securities
    
    
    (852,866
    )
    
    
    (1,333,665
    )Sales/maturities of marketable securities
    
    
    838,836
    
    
    
    1,322,253Cash used for investing activities
    
    
    (67,868
    )
    
    
    (98,438
    )FINANCING ACTIVITIES:Net proceeds from issuance of common stock
    
    
    7,928
    
    
    
    6,955Repayment of long-term debt
    
    
    (1,001
    )
    
    
    (932
    )Repurchase of common stock
    
    
    (57,721
    )
    
    
    Cash (used for) provided by financing activities
    
    
    (50,794
    )
    
    
    6,023Net decrease in cash and cash equivalents
    
    
    (30,465
    )
    
    
    (10,730
    )Cash and cash equivalents at beginning of period
    
    
    64,509
    
    
    
    40,331Cash and cash equivalents at end of period
    
    $
    34,044
    
    
    $
    29,601
  4




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HUTCHINSON TECHNOLOGY INCORPORATED
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS  UNAUDITED
 When we refer to we, our, us, the company or HTI, we mean Hutchinson Technology
Incorporated and its subsidiaries. Unless otherwise indicated, references to 2009 mean our fiscal
year ending September 27, 2009, references to 2008 mean our fiscal year ending September 28,
2008, references to 2007 mean our fiscal year ended 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




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(3) BUSINESS AND CUSTOMERS
  6




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Percentage of Net SalesThirteen Weeks Ended
    
    Thirty-Nine Weeks EndedJune 29,
    
    June 24,
    
    June 29,
    
    June 24,2008
    
    2007
    
    2008
    
    2007Five Largest Customers
    
    
    99
    %
    
    
    92
    %
    
    
    97
    %
    
    
    87
    %Sales to Major Customers:SAE Magnetics, Ltd./TDK
    
    
    37
    %
    
    
    31
    %
    
    
    32
    %
    
    
    28
    %Western Digital Corporation
    
    
    30
    %
    
    
    20
    %
    
    
    28
    %
    
    
    17
    %Seagate Technology LLC
    
    
    27
    %
    
    
    26
    %
    
    
    30
    %
    
    
    26
    %Fujitsu Limited
    
    
    5
    %
    
    
    6
    %
    
    
    6
    %
    
    
    6
    %Alps Electric Co., Ltd.
    
    
    
    
    
    
    9
    %
    
    
    1
    %
    
    
    10
    %
 (4) INVESTMENTS
   Cost
    
    
    Gross Unrealized
    
    
    RecordedBasis
    
    
    Gains
    
    
    Losses
    
    
    BasisShort-term investments
Government securities
    
    $
    146,314
    
    
    $
    
    
    
    $
    
    
    
    $
    146,314Long-term investments
Auction-rate securities
    
    
    100,750
    
    
    
    
    
    
    
    5,980
    
    
    
    94,770$
    247,064
    
    
    $
    
    
    
    $
    5,980
    
    
    $
    241,084
    7




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(5) TRADE RECEIVABLES
   Increases in the
    
    Reductions in theAllowance Related
    
    Allowance forSeptember 30,
    
    to Warranties
    
    Returns Under
    
    June 29,2007
    
    Issued
    
    Warranties
    
    2008$397
    
    $3,744
    
    $(3,532)
    
    $609
 8




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(6) INVENTORIES
  June 29,
    
    
    September 30,2008
    
    
    2007Raw materials
    
    $
    26,904
    
    
    $
    21,108Work in process
    
    
    17,242
    
    
    
    11,980Finished goods
    
    
    34,769
    
    
    
    28,095$
    78,915
    
    
    $
    61,183
 (7) EARNINGS (LOSS) PER SHARE
   Thirteen Weeks Ended
    
    
    Thirty-Nine Weeks EndedJune 29,
    
    
    June 24,
    
    
    June 29,
    
    
    June 24,2008
    
    
    2007
    
    
    2008
    
    
    2007Net loss
    
    $
    (8,385
    )
    
    $
    (13,480
    )
    
    $
    (12,332
    )
    
    $
    (11,313
    )Plus: interest expense on convertible
subordinated notes
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Less: additional profit-sharing expense
and income tax provisions
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Net loss available to common shareholders
    
    $
    (8,385
    )
    
    $
    (13,480
    )
    
    $
    (12,332
    )
    
    $
    (11,313
    )Weighted-average common shares outstanding
    
    
    23,212
    
    
    
    26,027
    
    
    
    24,902
    
    
    
    25,961Dilutive potential common shares
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Weighted-average common and diluted
shares outstanding
    
    
    23,212
    
    
    
    26,027
    
    
    
    24,902
    
    
    
    25,961Basic loss per share
    
    $
    (0.36
    )
    
    $
    (0.52
    )
    
    $
    (0.50
    )
    
    $
    (0.44
    )Diluted loss per share
    
    $
    (0.36
    )
    
    $
    0.52
    )
    
    $
    (0.50
    )
    
    $
    (0.44
    )
 9




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(8) SEVERANCE AND OTHER
   (9) INCOME TAXES
  June 29,
    
    
    September 30,2008
    
    
    2007Current deferred tax assets:Receivable allowance
    
    $
    229
    
    
    $
    152Inventories
    
    
    4,736
    
    
    
    4,857Accruals and other reserves
    
    
    4,599
    
    
    
    3,573Total current deferred tax assets
    
    
    9,564
    
    
    
    8,582Long-term deferred tax assets:Property, plant and equipment
    
    
    25,983
    
    
    
    36,678Deferred income
    
    
    3,119
    
    
    
    2,428Capital loss
    
    
    
    
    
    
    Tax credits
    
    
    37,004
    
    
    
    35,485Net operating loss carryforwards
    
    
    26,237
    
    
    
    11,244Valuation allowance
    
    
    (8,187
    )
    
    
    (6,827
    )Total long-term deferred tax assets
    
    
    84,156
    
    
    
    79,008Total deferred tax assets
    
    $
    93,720
    
    
    $
    87,590
  10




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(10) OTHER ASSETS
  (11) LONG-TERM DEBT
      12




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(12) OTHER COMPREHENSIVE (LOSS) INCOME
 Other comprehensive (loss) income
  Thirteen Weeks Ended
    
    
    Thirty-Nine Weeks EndedJune 29,
    
    
    June 24,
    
    
    June 29,
    
    
    June 24,2008
    
    
    2007
    
    
    2008
    
    
    2007Net loss
    
    $
    (8,385
    )
    
    $
    (13,480
    )
    
    $
    (12,332
    )
    
    $
    (11,313
    )Other comprehensive income:Unrealized (loss) gain on securities
available for sale, net of income
taxes of $0, $17, $(17) and $55,
respectively
    
    
    1,718
    
    
    
    28
    
    
    
    (6,007
    )
    
    
    97Change in fair value of derivative
instruments, net of income taxes of
$(110), $0, $(154) and $0,
respectively
    
    
    (125
    )
    
    
    
    
    
    
    (576
    )
    
    
    Total other comprehensive gain (loss)
    
    
    1,593
    
    
    
    28
    
    
    
    (6,583
    )
    
    
    97Total comprehensive loss
    
    $
    (6,792
    )
    
    $
    (13,452
    )
    
    $
    (18,915
    )
    
    $
    (11,216
    )
  June 29,
    
    
    September 30,2008
    
    
    2007Available-for-sale securities
    
    $
    (5,978
    )
    
    $
    29Derivatives
    
    
    (576
    )
    
    
    Total accumulated other
comprehensive (loss) gain
    
    $
    (6,554
    )
    
    $
    29
 13




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Derivatives
    Thirteen Weeks Ended
    
    
    Thirty-Nine Weeks EndedJune 29,
    
    
    June 24,
    
    
    June 29,
    
    
    June 24,2008
    
    
    2007
    
    
    2008
    
    
    2007Beginning of period unrealized loss in
accumulated OCI
    
    $
    (718
    )
    
    $
    
    
    
    $
    
    
    
    $
    Decrease in fair value of derivative instruments
    
    
    (30
    )
    
    
    
    
    
    
    (748
    )Gains reclassified from OCI, offsetting the
cost of sales
    
    
    18
    
    
    
    
    
    
    
    18End of period unrealized loss in accumulated OCI
    
    $
    (730
    )
    
    $
    
    
    
    $
    (730
    )
    
    $
    
  (13) SHAREHOLDERS EQUITY
  14




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(14) SUPPLEMENTARY CASH FLOW INFORMATION
 Thirty-Nine Weeks EndedJune 29,
    
    
    June 24,2008
    
    
    2007Changes in operating assets and liabilities:Receivables, net
    
    $
    27,776
    
    
    $
    4,539Inventories
    
    
    (17,732
    )
    
    
    6,584Other assets
    
    
    (916
    )
    
    
    (1,426
    )Accounts payable and accrued expenses
    
    
    1,192
    
    
    
    (4,684
    )Other long-term liabilities
    
    
    4,837
    
    
    
    (1,078
    )$
    5,157
    
    
    $
    3,935Cash paid for:Interest (net of amount capitalized)
    
    $
    4,984
    
    
    $
    3,583Income taxes
    
    
    55
    
    
    
    828Non-cash investing activities:Capital expenditures in accounts payable
    
    $
    3,277
    
    
    $
    4,469
  (15) STOCK-BASED COMPENSATION
     15




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Thirty-Nine Weeks EndedJune 29,
    
    June 24,2008
    
    2007Risk-free interest rate
    
    
    3.6
    %
    
    
    4.7
    %Expected volatility
    
    
    40
    %
    
    
    45
    %Expected life (in years)
    
    
    7.8
    
    
    
    7.7Dividend yield
    
    
    
    
    
    
    
   Weighted-AverageRemainingNumber of
    
    Weighted-Average
    
    Contractual
    
    AggregateShares
    
    Exercise Price ($)
    
    Life (yrs.)
    
    Intrinsic Value ($)Outstanding at September 30, 2007
    
    
    3,262,467
    
    
    
    25.27
    
    
    
    5.4
    
    
    
    5,265Granted
    
    
    556,400
    
    
    
    25.56Exercised
    
    
    (253,285
    )
    
    
    23.58Expired
    
    
    (91,991
    )
    
    
    27.90Outstanding at June 29, 2008
    
    
    3,473,591
    
    
    
    25.37
    
    
    
    5.7
    
    
    
    Options vested or expected to vest
at June 29, 2008
    
    
    3,454,575
    
    
    
    25.36
    
    
    
    5.7Options exercisable at June 29, 2008
    
    
    2,229,351
    
    
    
    25.65
    
    
    
    4.0
    
    
    
    
  Options Outstanding
    
    Options ExercisableWeighted-AverageRemainingRange of
    
    
    
    
    
    Contractual
    
    Weighted-Average
    
    
    
    
    
    Weighted-AverageExercise Prices ($)
    
    Number Outstanding
    
    Life (yrs.)
    
    Exercise Price ($)
    
    Number Exercisable
    
    Exercise Price ($)14.42-20.00
    
    
    596,260
    
    
    
    2.3
    
    
    
    18.68
    
    
    
    561,260
    
    
    
    18.8520.01-25.00
    
    
    1,171,592
    
    
    
    5.9
    
    
    
    23.19
    
    
    
    674,042
    
    
    
    23.3325.01-30.00
    
    
    1,078,514
    
    
    
    7.3
    
    
    
    27.20
    
    
    
    368,324
    
    
    
    28.4330.01-45.06
    
    
    627,225
    
    
    
    5.8
    
    
    
    32.63
    
    
    
    625,725
    
    
    
    32.63Total
    
    
    3,473,591
    
    
    
    5.7
    
    
    
    25.37
    
    
    
    2,229,351
    
    
    
    25.65
 16




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(16) LEGAL CONTINGENCIES
 Securities Litigation
   Other Litigation and Proceedings
    17




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(17) SEGMENT REPORTING
    Thirteen Weeks Ended
    
    
    Thirty-Nine Weeks EndedJune 29,
    
    
    June 24,
    
    
    June 29,
    
    
    June 24,2008
    
    
    2007
    
    
    2008
    
    
    2007Net sales:Disk Drive Components Division:Suspension assemblies
    
    $
    147,707
    
    
    $
    152,254
    
    
    $
    460,610
    
    
    $
    493,700Other products
    
    
    2,461
    
    
    
    4,289
    
    
    
    6,111
    
    
    
    22,191Total Disk Drive Components Division
    
    
    150,168
    
    
    
    156,543
    
    
    
    466,721
    
    
    
    515,891BioMeasurement Division
    
    
    230
    
    
    
    143
    
    
    
    598
    
    
    
    358$
    150,398
    
    
    $
    156,686
    
    
    $
    467,319
    
    
    $
    516,249Loss from operations:Disk Drive Components Division
    
    $
    (6,421
    )
    
    $
    (16,471
    )
    
    $
    (3,585
    )
    
    $
    (12,701
    )BioMeasurement Division
    
    
    (5,616
    )
    
    
    (4,898
    )
    
    
    (16,557
    )
    
    
    (11,934
    )$
    (12,037
    )
    
    $
    (21,369
    )
    
    $
    (20,142
    )
    
    $
    (24,635
    )
  18




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When we refer to we, our, us, the company or HTI we mean Hutchinson Technology
Incorporated and its subsidiaries. Unless otherwise indicated, references to 2008 mean our fiscal
year ending September 28, 2008, references to 2007 mean our fiscal year ended 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
  InSpectra ® StO 2 2
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2007 by QuarterFirst
    
    
    225Second
    
    
    205Third
    
    
    190Fourth
    
    
    246
 2008 by QuarterFirst
    
    
    213Second
    
    
    179Third
    
    
    189
     20




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
    
    demand or customer requirements;
    
    utilization of existing or newly added production capacity;
    
    manufacturing yields or efficiencies;
    
    product and feature mix;
    
    selling prices;
    
    production and engineering costs associated with production of new products and
features; and
    
    costs of materials, including gold.
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RESULTS OF OPERATIONS
 Thirteen Weeks Ended June 29, 2008 vs. Thirteen Weeks Ended June 24, 2007
     23




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Thirty-Nine Weeks Ended June 29, 2008 vs. Thirty-Nine Weeks Ended June 24, 2007
  24




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25




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LIQUIDITY AND CAPITAL RESOURCES
   26




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27




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28




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CONTRACTUAL OBLIGATIONS
  29




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CRITICAL ACCOUNTING POLICIES
   RECENT ACCOUNTING PRONOUNCEMENTS
     30




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MARKET TRENDS
     31




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FORWARD-LOOKING STATEMENTS
  32




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33




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EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
  CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
   
    
    improved procedures for the calculation and reconciliation process of our deferred
income tax assets and liabilities, including validation of underlying supporting data; and
    
    enhanced quarterly management review of the calculation of the deferred income tax
assets and liabilities and underlying support data.
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PART II. OTHER INFORMATION
 
  SECURITIES LITIGATION
   OTHER LITIGATION AND PROCEEDINGS
    36




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Due to recent uncertainties in the credit markets, we may be unable to liquidate holdings of our
auction-rate securities, and our estimates of the fair value of these securities could differ
substantially from the actual amount we would collect upon liquidation.
    38




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Maximum DollarTotal Number of
    
    Value of SharesShares Purchased
    
    that May Yet BeTotal Number
    
    Average Price
    
    as Part of Publicly
    
    Purchased Underof Shares
    
    Paid per
    
    Announced Plans
    
    the Plan orPeriod
    
    Purchased
    
    Share ($)
    
    or Programs
    
    ProgramMarch 31  April 27, 2008
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    82,350,000April 28  May 25, 2008
    
    
    688,200
    
    
    
    14.51
    
    
    
    688,200
    
    
    
    72,368,000May 26  June 29, 2008
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    
    688,200
    
    
    
    14.51
    
    
    
    688,200
    
    
    $
    72,368,000
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(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 3.1 to HTIs Current Report on Form
8-K filed 6/5/08).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.
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SIGNATURES
  HUTCHINSON TECHNOLOGY INCORPORATEDDate: August 5, 2008
    
    By
    
    /s/ Wayne M. FortunWayne M. FortunPresident and Chief Executive OfficerDate: August 5, 2008
    
    By
    
    /s/ John A. InglemanJohn A. InglemanSenior Vice President and Chief Financial Officer
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INDEX TO EXHIBITS
 Exhibit 
No.
    
    
    
    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 3.1 to HTIs Current Report on Form 8-K filed
6/5/08).
    
    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
 42