<PAGE>   1
                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934

For the quarterly period ended                   JUNE 24, 2001
                               -------------------------------------------------

                                       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 July 30, 2001 the registrant had 25,163,692 shares of Common Stock issued
and outstanding.

--------------------------------------------------------------------------------



<PAGE>   2



                          PART I. FINANCIAL INFORMATION
                          ITEM 1. FINANCIAL STATEMENTS.

                       HUTCHINSON TECHNOLOGY INCORPORATED
                CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                                                  June 24,              September 24,
                                                                                    2001                     2000
                                                                             ------------------      -------------------
<S>                                                                          <C>                     <C>
ASSETS

Current assets:
   Cash and cash equivalents                                                          $121,266                 $129,314
   Securities available for sale                                                       133,161                  110,955
   Trade receivables, net                                                               45,716                   60,637
   Other receivables                                                                     2,262                    4,071
   Inventories                                                                          26,222                   32,516
   Prepaid taxes and other expenses                                                     16,798                   16,967
                                                                             ------------------      -------------------
         Total current assets                                                          345,425                  354,460
Property, plant and equipment, net                                                     239,793                  283,659
Deferred tax assets                                                                     39,699                   33,475
Other assets                                                                             9,893                   12,339
                                                                             ------------------      -------------------
                                                                                      $634,810                 $683,933
                                                                             ==================      ===================

LIABILITIES AND SHAREHOLDERS' INVESTMENT

Current liabilities:
   Current portion of capital lease obligation                                        $  9,538                 $  8,538
   Current maturities of long-term debt                                                 19,278                   20,910
   Accounts payable and accrued expenses                                                30,712                   38,674
   Accrued compensation                                                                 17,831                   15,729
                                                                             ------------------      -------------------
         Total current liabilities                                                      77,359                   83,851
Capital lease obligation                                                                 4,824                    9,718
Long-term debt, less current maturities                                                 30,156                   44,706
Convertible subordinated notes                                                         150,000                  150,000
Other long-term liabilities                                                              2,452                    3,169
Shareholders' investment:
   Common stock, $.01 par value, 45,000,000 shares authorized,
          25,022,000 and 24,830,000 issued and outstanding                                 250                      248
   Additional paid-in capital                                                          365,775                  364,540
   Retained earnings                                                                     3,994                   27,701
                                                                             ------------------      -------------------
         Total shareholders' investment                                                370,019                  392,489
                                                                             ------------------      -------------------
                                                                                      $634,810                 $683,933
                                                                             ==================      ===================
</TABLE>

See accompanying notes to condensed consolidated financial statements.


<PAGE>   3
                       HUTCHINSON TECHNOLOGY INCORPORATED
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
                     (In thousands, except per share data)

<TABLE>
<CAPTION>
                                                           Thirteen Weeks Ended                 Thirty-Nine Weeks Ended
                                                     ---------------------------------      --------------------------------

                                                        June 24,           June 25,            June 24,          June 25,
                                                          2001               2000                2001              2000
                                                     --------------     --------------      --------------    --------------
<S>                                                  <C>                <C>                 <C>               <C>
Net sales                                                 $ 91,507           $108,663            $306,158          $343,423

Cost of sales                                               86,670            104,425             275,624           326,760
                                                     --------------     --------------      --------------    --------------

   Gross profit                                              4,837              4,238              30,534            16,663

Selling, general and
   administrative expenses                                  12,318             13,139              40,210            37,384

Research and development expenses                            5,554              5,122              17,555            16,300

Asset impairment and other (Note 3)                             --             16,740                  --            63,268
                                                     --------------     --------------      --------------    --------------

   Loss from operations                                    (13,035)           (30,763)            (27,231)         (100,289)

Interest expense                                            (3,890)            (3,287)            (11,855)           (9,776)

Other income, net                                            3,384              3,492              11,195             9,813
                                                     --------------     --------------      --------------    --------------

   Loss before income taxes                                (13,541)           (30,558)            (27,891)         (100,252)

Benefit for income taxes                                    (2,749)            (7,639)             (4,184)          (25,063)
                                                     --------------     --------------      --------------    --------------

   Net loss                                              ($ 10,792)         ($ 22,919)          ($ 23,707)        ($ 75,189)
                                                     ==============     ==============      ==============    ==============

Basic and diluted loss per share                         ($   0.43)         ($   0.92)          ($   0.95)        ($   3.04)
                                                     ==============     ==============      ==============    ==============

Weighted average common and
   diluted shares outstanding                               24,966             24,791              24,895            24,765
                                                     ==============     ==============      ==============    ==============
</TABLE>

See accompanying notes to condensed consolidated financial statements.


<PAGE>   4



                       HUTCHINSON TECHNOLOGY INCORPORATED
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
                             (Dollars in thousands)


<TABLE>
<CAPTION>
                                                                                         Thirty-Nine Weeks Ended
                                                                                ------------------------------------------
                                                                                     June 24,                June 25,
                                                                                       2001                    2000
                                                                                ------------------      ------------------
<S>                                                                             <C>                     <C>
Operating activities:
   Net loss                                                                             ($ 23,707)              ($ 75,189)
   Adjustments to reconcile net loss to cash
      provided by operating activities:
         Asset impairment and other (Note 3)                                                   --                  63,268
         Depreciation and amortization                                                     66,987                  70,883
         Deferred taxes                                                                    (4,965)                (23,558)
         Change in operating assets and liabilities (Note 8)                               18,044                   5,635
                                                                                ------------------      ------------------
                    Cash provided by operating activities                                  56,359                  41,039
                                                                                ------------------      ------------------

Investing activities:
   Capital expenditures                                                                   (23,362)                (54,216)
   Sales of marketable securities                                                         105,723                  90,621
   Purchases of marketable securities                                                    (127,929)                (67,718)
                                                                                ------------------      ------------------
                    Cash used for investing activities                                    (45,568)                (31,313)
                                                                                ------------------      ------------------

Financing activities:
   Repayments of long-term debt                                                           (16,182)                 (2,008)
   Repayments of capital lease obligation                                                  (3,894)                     --
   Net proceeds from issuance of common stock                                               1,237                     774
                                                                                ------------------      ------------------
                    Cash used for financing activities                                    (18,839)                 (1,234)
                                                                                ------------------      ------------------

Net increase (decrease) in cash and cash equivalents                                       (8,048)                  8,492

Cash and cash equivalents at beginning of period                                          129,314                  98,820
                                                                                ------------------      ------------------

Cash and cash equivalents at end of period                                               $121,266                $107,312
                                                                                ==================      ==================
</TABLE>


See accompanying notes to condensed consolidated financial statements.


<PAGE>   5



                       HUTCHINSON TECHNOLOGY INCORPORATED
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - UNAUDITED

Unless otherwise indicated, references to "2001" mean HTI's fiscal year ending
September 30, 2001 and references to "2000" mean HTI's fiscal year ended
September 24, 2000.

(1)  ACCOUNTING POLICIES

The condensed consolidated financial statements have been prepared by the
Company, without audit, pursuant to the rules and regulations of the Securities
and Exchange Commission. The information furnished in the condensed consolidated
financial statements include normal recurring adjustments and reflect all
adjustments which are, in the opinion of management, necessary for a fair
presentation of such financial statements. Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with accounting principles generally accepted in the United States have been
condensed or omitted pursuant to such rules and regulations. Although the
Company believes that the disclosures are adequate to make the information
presented not misleading, it is suggested that these condensed consolidated
financial statements be read in conjunction with the financial statements and
the notes thereto included in the Company's latest Annual Report on Form 10-K.
The quarterly results are not necessarily indicative of the actual results that
may occur for the entire fiscal year.

(2)   ACCOUNTING PRONOUNCEMENTS

The Company adopted Statement of Financial Accounting Standards No. 133,
"Accounting for Derivative Instruments and Hedging Activities" ("SFAS 133"), as
amended by Statement of Financial Accounting Standards No. 138, "Accounting for
Certain Derivative Instruments and Certain Hedging Activities - an Amendment of
FASB Statement No. 133" ("SFAS 138"), effective September 25, 2000. SFAS 133
requires a company to recognize all derivatives on the balance sheet at fair
value. Derivatives that are not hedges must be adjusted to fair value through
income. If the derivative is a hedge, depending on the nature of the hedge,
changes in the fair value of the hedged assets, liabilities or firm commitments
are recognized through earnings or in other comprehensive income until the
hedged item is recognized in earnings. The ineffective portion of a derivative's
change in fair value will be immediately recognized in earnings. The effect of
adopting SFAS 133 was not material to the earnings and the financial position of
the Company.

(3)  ASSET IMPAIRMENT AND OTHER

The Company recorded charges in its third quarter of 2000 of $12,995,000 for
impaired assets and $3,745,000 for severance costs. The Company also recorded
charges in its first quarter of 2000 of $43,528,000 for impaired assets and
$3,000,000 for severance costs. These charges are reflected on the accompanying
statement of operations as "Asset impairment and other."

Advances in technology have enabled disk drive manufacturers to reduce their
costs by using fewer components, including suspension assemblies, in each disk
drive. Decreases in the industry's forecast for components and our resulting
lower forecast for suspension assembly demand early in quarter three of 2000,
caused us to suspend photoetching operations at our Eau Claire, Wisconsin plant
and consolidate these operations into our Hutchinson, Minnesota plant. Late in
quarter one of 2000, the Company's forecast of future suspension assembly demand
decreased significantly due to industry forecasts indicating decreases in
component counts as a result of data density improvements, extending from the
desktop market to server drives. As a result of these events, the Company
prepared analyses during the third and first quarters of 2000, in accordance
with Statement of Financial Accounting Standards No. 121,



<PAGE>   6
"Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to
be Disposed Of", to determine if there was impairment of certain excess
manufacturing equipment and tooling, primarily for TSA suspensions. The analyses
resulted in impairment charges based on the difference between the carrying
value and the estimated fair value of these assets. Fair value was based on
discounting estimated future cash flows for assets grouped at the lowest level
for which there were identifiable cash flows at a discount rate commensurate
with the risks involved.

During quarter three of 2000, the Company terminated approximately 950 employees
in its workforce, including direct positions at our Eau Claire site and indirect
positions in its administrative, development and manufacturing support areas at
all plant sites. This workforce reduction resulted in a charge for severance
costs of $3,745,000. The full amount of these severance costs was paid in 2000.
During quarter one of 2000, the Company terminated approximately 250 employees
in its workforce, including indirect positions in its administrative,
development and manufacturing support areas at all plant sites. The workforce
reduction resulted in a charge for severance costs of $3,000,000. The full
amount of these severance costs was paid in 2000.

(4)  BUSINESS AND CUSTOMERS

The Company is the world's leading supplier of suspension assemblies for hard
disk drives. Suspension assemblies hold the recording heads in position above
the spinning magnetic disks in the drive and are critical to maintaining the
necessary microscopic clearance between the head and disk. The Company developed
its leadership position in suspension assemblies through research, development
and design activities coupled with a substantial investment in manufacturing
technologies and equipment. The Company is focused on continuing to develop
suspension assemblies which address the rapidly changing requirements of the
hard disk drive industry. The Company also is evaluating other product
opportunities in the medical device and other markets, but does not expect to
generate significant revenue during 2001. A breakdown of customer sales is as
follows:

<TABLE>
<CAPTION>
                                                      Thirteen Weeks Ended                Thirty-Nine Weeks Ended
                                                --------------------------------      --------------------------------
                                                    June 24,         June 25,             June 24,         June 25,
Percentage of Net Sales                               2001             2000                 2001             2000
-----------------------                         ---------------  ---------------      ---------------  ---------------
<S>                                             <C>              <C>                  <C>              <C>
Five Largest Customers                                 94%              84%                  93%              84%
   SAE Magnetics, Ltd./TDK                             31               29                   27               26
   Read-Rite Corporation                               26               15                   27               12
   IBM and affiliates                                  15               13                   15               14
   Seagate Technology, Inc.                            12               17                   13               20
   Alps Electric Co., Ltd.                             10               10                   11               12
</TABLE>

(5)  INVENTORIES

All inventories are stated at the lower of first-in, first-out ("FIFO") cost or
market. Inventories consisted of the following (dollars in thousands):

<TABLE>
<CAPTION>
                                                                            June 24,              September 24,
                                                                              2001                    2000
                                                                        ------------------      ------------------
<S>                                                                     <C>                     <C>
         Raw materials                                                            $ 6,169                 $ 9,129
         Work in process                                                            5,313                   9,680
         Finished goods                                                            14,740                  13,707
                                                                        ------------------      ------------------
                                                                                  $26,222                 $32,516
                                                                        ==================      ==================
</TABLE>

<PAGE>   7



(6)  NET LOSS PER SHARE

Basic loss per share is computed by dividing net loss available for common
shareholders by the weighted average number of common shares outstanding during
the year. Diluted loss per share is computed under the treasury stock method and
is calculated to compute the dilutive effect of potential common shares.

Potential common shares of 5,291,000, relating to the Company's outstanding
convertible subordinated notes, were excluded from the computation of diluted
loss per share for the thirty-nine weeks ended June 24, 2001 and June 25, 2000,
as inclusion of these shares would have been antidilutive. Potential common
shares of 242,000 and 334,000, relating to the Company's outstanding stock
options, were excluded from the computation of diluted loss per share for the
thirty-nine weeks ended June 24, 2001 and June 25, 2000, as inclusion of these
shares would have been antidilutive.

(7)  INCOME TAXES

The following table details the significant components of the Company's deferred
tax assets (dollars in thousands):

<TABLE>
<CAPTION>
                                                                                    June 24,              September 24,
                                                                                      2001                    2000
                                                                                ------------------      ------------------
<S>                                                                             <C>                     <C>
Current deferred tax assets:
         Receivable reserves                                                              $ 1,706                 $ 2,271
         Inventory reserves                                                                 7,196                   9,290
         Accruals and other reserves                                                        5,971                   4,571
                                                                                ------------------      ------------------
            Total current deferred tax assets                                              14,873                  16,132
                                                                                ------------------      ------------------

Long-term deferred tax assets (liabilities):
         Property, plant and equipment                                                      9,770                  15,162
         Tax credits                                                                       13,482                  13,043
         Net operating loss carryforwards                                                  82,615                  50,687
         Valuation allowance                                                              (66,168)                (45,417)
                                                                                ------------------      ------------------
             Total long-term deferred tax assets                                           39,699                  33,475
                                                                                ------------------      ------------------

Total deferred tax assets                                                                 $54,572                 $49,607
                                                                                ==================      ==================
</TABLE>

Deferred income taxes reflect the net tax effects of temporary differences
between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for income tax purposes. At June 24, 2001, the
Company had unused tax credits and net operating loss carryforwards of
$96,097,000, of which $5,525,000 can be carried forward indefinitely and
$90,572,000 which expire at various dates through 2020. A valuation allowance of
$66,168,000 has been recognized for certain of these deferred tax assets due to
the uncertainty of realizing the benefit of certain tax credits and net
operating loss carryforwards.

<PAGE>   8

(8)  SUPPLEMENTARY CASH FLOW INFORMATION


<TABLE>
<CAPTION>
                                                                                          Thirty-Nine Weeks Ended
                                                                               -------------------------------------------
                                                                                    June 24,                June 25,
                                                                                      2001                    2000
                                                                               -------------------      ------------------
Changes in operating assets and liabilities:                                             (dollars in thousands)
<S>                                                                            <C>                      <C>
         Receivables, net                                                                 $16,730                 $10,978
         Inventories                                                                        6,294                   8,959
         Prepaid and other                                                                    717                    (319)
         Accounts payable and accrued liabilities                                          (4,981)                (12,669)
         Other liabilities                                                                   (716)                 (1,314)
                                                                               -------------------      ------------------
                                                                                          $18,044                 $ 5,635
                                                                               ===================      ==================

Cash paid (refunded) for:
         Interest (net of amount capitalized)                                             $10,094                 $ 6,687
         Income taxes                                                                     $   192                ($ 4,058)
</TABLE>

Capitalized interest for the thirty-nine weeks ended June 24, 2001 was $730,000
compared to $2,415,000 for the comparable period in 2000.

(9)  LEGAL CONTINGENCIES

On September 18, 2000, HTI commenced a lawsuit in the United States District
Court for the District of Minnesota against the Magnecomp Group, an
unincorporated association of companies, and seven members of the Magnecomp
Group. The lawsuit alleges that the Magnecomp Group has sold infringing products
without a license, and alleges infringement of nine of HTI's patents related to
the design and manufacture of suspension assemblies. The lawsuit requests
damages, including treble damages, attorneys' fees, costs, and an injunction
against the Magnecomp Group.

On October 12, 2000, Magnecomp Corporation commenced a lawsuit in the United
States District Court for the Central District of California against HTI. The
lawsuit alleges that HTI has sold products infringing four patents, engaged in
anti-competitive conduct in violation of federal and state antitrust laws, and
violated California state law regarding contractual interference and unfair
competition. The lawsuit requests damages, including treble damages, attorneys'
fees, costs, punitive damages, and an injunction against HTI. On December 8,
2000, the California District Court issued an order granting HTI's motion to
transfer the California action to the United States District Court for the
District of Minnesota.

The two lawsuits described above have been consolidated for pre-trial purposes,
and both currently are in the discovery phase. The Company is vigorously
defending the lawsuit brought against it. However, in the event that the claims
are adjudicated adversely to the Company, its results of operations could be
materially adversely affected.

The Company and certain users of the Company's products have from time to time
received, and may in the future receive, communications from third parties
asserting patents against the Company or its customers which may relate to
certain of the Company's manufacturing equipment or products or to


<PAGE>   9

products that include the Company's products as a component. The Company is
currently a party to the litigation described above. In addition, certain of its
customers have been sued on patents having claims closely related to products
sold by the Company. If any third party makes a valid infringement claim and a
license were not available on terms acceptable to the Company, the Company's
operating results could be adversely affected. The Company expects that, as the
number of patents issued continues to increase, and as the Company grows, the
volume of intellectual property claims could increase. The Company may need to
engage in litigation to enforce patents issued or licensed to it, protect trade
secrets or know-how owned by it or determine the enforceability, scope and
validity of the intellectual property rights of others. The Company could incur
substantial costs in such litigation or other similar legal actions, which could
have a material adverse effect on its results of operations.

The Company is a party to certain other claims arising in the ordinary course of
business. In the opinion of management, the outcome of such claims will not
materially affect the Company's current or future financial position or results
of operations.

(10)  OTHER MATTERS

In response to a World Trade Organization ("WTO") ruling that the United States
Foreign Sales Corporation ("FSC") provisions of the Internal Revenue Code
constituted a prohibited export subsidy, the United States government repealed
the FSC provisions and, in November of 2000, enacted The Extraterritorial Income
Exclusion ("EIE"). Under the WTO rules, the European Union ("EU") asked the WTO
dispute resolution panel for a ruling as to whether or not the EIE was also a
prohibited export subsidy. In late June 2001, the WTO dispute resolution panel
ruled that the EIE also constituted a prohibited export subsidy.

As of July 30, 2001, the United States had not indicated publicly how it will
respond to the late June 2001 ruling. In the interim, EIE is the law in the
United States and under it, we expect to earn a net benefit similar to what we
earned under the FSC.




<PAGE>   10



                       HUTCHINSON TECHNOLOGY INCORPORATED
     ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                             RESULTS OF OPERATIONS.

Unless otherwise indicated, references to "2001" mean HTI's fiscal year ending
September 30, 2001, references to "2000" mean HTI's fiscal year ended September
24, 2000, and references to "1999" mean HTI's fiscal year ended September 26,
1999.

GENERAL

Since the late 1980's, we have derived virtually all of our revenue from the
sale of suspension assemblies to a small number of customers. We currently sell
a variety of suspension assemblies based on several standard designs. Suspension
assemblies are a critical component of hard disk drives and our results of
operations are highly dependent on the hard disk drive industry. The hard disk
drive industry is intensely competitive and volatile and our results of
operations have been adversely affected from time to time due to hard disk drive
industry slowdowns, technological changes that impact industry component demand,
production yields and our own product transitions.

Improvements in data density of hard disk drives, which have outpaced storage
capacity requirements, have enabled disk drive manufacturers to reduce their
costs by using fewer components, including suspensions, in each drive. Improved
head-gimbal assembly yields at our customers and shifts in our position in the
marketplace have also, to a lesser extent, decreased demand for our products
since the third quarter of 1999. In the second quarter of 2001, lingering
effects of slower holiday season sales of personal computers, previous
overbuying by businesses, and concerns about a weak economy, resulted in lower
drive demand. This led to our unit shipments for the second and third quarters
of 2001 declining significantly from first quarter levels. Our unit shipments
were 96 million in the third quarter of 2001, slightly below the preceding
quarter. Shipments for the fourth quarter of 2001 are anticipated to be up
slightly over the third quarter, due to an extra week in the quarter. Given
these market conditions, we have limited visibility for future demand. We will
continue to have excess capacity until some combination of the following events
occurs: average component counts within disk drives stabilize or increase, or
overall disk drive demand growth increases significantly, or our share of
certain drive programs increases, or Internet-related storage growth increases,
or new applications for disk storage become more widespread.

Our selling prices are subject to pricing pressure from our customers and market
pressure from our competitors. Our selling prices also are affected by changes
in overall demand for our products, changes in the specific products our
customers buy and a product's life cycle. A typical life cycle for our products
begins with higher pricing when a product is introduced, decreasing prices when
it is mature, and slightly increasing pricing as it is phased out. To offset
price decreases during a product's life, we rely primarily on higher sales
volume and improving our manufacturing yield to reduce the cost of manufacturing
our mature products. If we cannot reduce our manufacturing costs as prices
decline during a product's life cycle, or at all, our business, financial
condition and results of operations could be materially adversely affected.

Our gross margins have fluctuated and will continue to fluctuate based upon a
variety of factors such as changes in demand, product mix, selling prices, the
level of utilization of our production capacity, increases in production and
engineering costs associated with production of new products, manufacturing
yields and changes in the cost of materials. Gross margins have been negatively
impacted in each quarter since the third quarter of 1999 by lower than expected
suspension shipments resulting in excess manufacturing equipment and tooling.


<PAGE>   11

Our ability to respond to our customers' needs for new products and product
features on a timely basis is an important factor in our success. New products
have lower manufacturing yields and are produced in lower quantities than more
mature products. Our dedicated development center enables us to shorten
development cycles and achieve high volume output per manufacturing unit more
quickly. Manufacturing yields generally improve as the product matures and
production volumes increase. Manufacturing yields also vary depending on the
complexity and uniqueness of product specifications. Because our business is
capital intensive and requires a high level of fixed costs, gross margins are
also extremely sensitive to changes in volume. Small variations in capacity
utilization or manufacturing yields generally have a significant impact on gross
margins.

We typically allow customers to change or cancel orders on short notice without
penalty. We plan our production and inventory based primarily on forecasts of
customer demand, including forecasts of customer pulls of product out of our
"just-in-time" inventory hubs, rather than on order backlog. Both customer
demand and the resulting forecasts often fluctuate substantially. These factors,
among others, create an environment where scheduled production and capacity
utilization can vary significantly from week to week, leading to variability in
gross margins and difficulty in estimating our position in the marketplace.

In addition to increases in suspension assembly demand, improvements to our
operating margins depend, in part, on the successful management of our corporate
infrastructure, our suspension assembly production capacity and our workforce.
During the past two years, we consolidated some of our manufacturing operations
to make better use of existing equipment and support staff across all of our
plants and to reduce costs. As part of our efforts to improve our operating
margins through reduced costs and improved efficiency, we reduced our overall
employment level through workforce reductions and managed attrition, from 7,701
at the end of 1999 to 4,039 at the end of the third quarter of 2001.

During the second quarter of 2001, we reduced our employment level by 502
employees, including approximately 350 positions that were eliminated in
manufacturing, development and manufacturing support at all plant sites.
Employees whose positions were eliminated were offered a severance package, and
the full amount of the severance costs has been paid.

RESULTS OF OPERATIONS

THIRTEEN WEEKS ENDED JUNE 24, 2001 VS. THIRTEEN WEEKS ENDED JUNE 25, 2000.

Net sales for the thirteen weeks ended June 24, 2001 were $91,507,000, a
decrease of $17,156,000 or 16% from the comparable period in 2000. The decrease
was primarily due to lower suspension assembly sales volume, somewhat offset by
slightly higher average selling prices.

Gross profit for the thirteen weeks ended June 24, 2001 was $4,837,000, compared
to $4,238,000 for the comparable period in 2000. Gross profit as a percent of
net sales increased from 4% to 5%, primarily due to lower inventory obsolescence
costs, lower manufacturing labor and benefits expenses as a result of workforce
reductions and lower depreciation expense as a result of lower capital
expenditures in 2000 and 2001 and the asset impairment charges recorded in 2000.
These decreases were offset primarily by the lower sales volume noted above.

Selling, general and administrative expenses for the thirteen weeks ended June
24, 2001 were $12,318,000, a decrease of $821,000 or 6% from the comparable
period in 2000. Fees related to amending certain financing agreements were
recorded in the thirteen weeks ended June 25, 2000. The absence


<PAGE>   12

of these fees in the comparable period in 2001 was the primary cause for the
decrease in selling, general and administrative expenses. This decrease was
partially offset by increased legal and professional fees. Selling, general and
administrative expenses as a percent of net sales, increased from 12% in the
third quarter of 2000 to 13% in the third quarter of 2001.

Research and development expenses for the thirteen weeks ended June 24, 2001
were $5,554,000 compared to $5,122,000 for the thirteen weeks ended June 25,
2000. As a percent of net sales, research and development expenses increased
from 5% in the third quarter of 2000 to 6% in the third quarter of 2001,
primarily due to higher advanced suspension development expenses.

During the third quarter of 2000, we recorded a charge of $16,740,000 to write
down certain assets and record severance costs for approximately 950 employees
terminated during the quarter. Components of the charge included a $12,995,000
asset write-down of impaired manufacturing equipment and tooling, primarily for
our TSA suspensions, and $3,745,000 of severance costs. See Note 3, "Asset
Impairment and Other", in the notes to the condensed consolidated financial
statements.

Interest expense for the thirteen weeks ended June 24, 2001 was $3,890,000, an
increase of $603,000 from the comparable period in 2000, primarily due to
interest expense on capitalized leases.

Other income, net, for the thirteen weeks ended June 24, 2001 was $3,384,000, a
decrease of $108,000 from the comparable period in 2000. The decrease was
primarily due to a decrease in interest income as a result of lower investment
yields.

The income tax benefit for the thirteen weeks ended June 24, 2001 was based on
an estimated effective tax rate for the fiscal year of 15%, which is below the
statutory federal rate primarily due to alternative minimum tax considerations
and uncertainty related to the Company's ability to offset future income with
net operating losses. We adjusted our effective tax rate for the year from 10%
to 15% during the third quarter of 2001, as a result of changes to our recent
forecast.

Net loss for the thirteen weeks ended June 24, 2001 was $10,792,000, compared to
a net loss of $22,919,000 for the comparable period in 2000. The 2000 net loss
included the above-mentioned asset write-down and severance costs. Excluding the
asset write-down and severance costs in the third quarter of 2000, the net loss
as a percent of net sales, increased from (10)% for the thirteen weeks ended
June 25, 2000 to (12)% for the thirteen weeks ended June 24, 2001.

THIRTY-NINE WEEKS ENDED JUNE 24, 2001 VS. THIRTY-NINE WEEKS ENDED JUNE 25, 2000.

Net sales for the thirty-nine weeks ended June 24, 2001 were $306,158,000, a
decrease of $37,265,000 or 11% from the comparable period in 2000. This decrease
was primarily due to lower suspension assembly sales volume, somewhat offset by
higher average selling prices.

Gross profit for the thirty-nine weeks ended June 24, 2001 was $30,534,000,
compared to $16,663,000 for the comparable period in 2000, and gross profit as a
percent of net sales increased from 5% to 10%. This increase was primarily due
to lower manufacturing labor and benefits expenses as a result of workforce
reductions and lower depreciation expense as a result of lower capital
expenditures in 2000 and 2001 and the asset impairment charges recorded in 2000,
offset primarily by the lower sales volume noted above.

Selling, general and administrative expenses for the thirty-nine weeks ended
June 24, 2001 were $40,210,000, an increase of $2,826,000 or 8% from the
comparable period in 2000. The increase was due primarily to increased legal and
professional fees and increased severance charges, partially offset


<PAGE>   13

by the absence of fees recorded in the comparable period in 2000 related to
amending certain financing agreements. Excluding severance charges, selling,
general and administrative expenses as a percent of net sales, increased from
11% for the thirty-nine weeks ended June 25, 2000 to 12% for the thirty-nine
weeks ended June 24, 2001.

Research and development expenses for the thirty-nine weeks ended June 24, 2001
were $17,555,000 compared to $16,300,000 for the thirty-nine weeks ended June
25, 2000. The increase was mainly due to increased advanced suspension
development expenses. As a percent of net sales, research and development
expenses increased from 5% for the thirty-nine weeks ended June 25, 2000 to 6%
for the thirty-nine weeks ended June 24, 2001.

During the first quarter of 2000, we recorded a charge of $46,528,000 to write
down certain assets and record severance costs for approximately 250 employees
terminated during the quarter. Components of the charge included a $43,528,000
asset write-down of impaired manufacturing equipment and tooling, primarily for
our TSA suspensions, and $3,000,000 of severance costs. During the third quarter
of 2000, we recorded a charge of $16,740,000 to write down certain assets and
record severance costs for approximately 950 employees terminated during the
quarter. Components of the charge included a $12,995,000 asset write-down of
impaired manufacturing equipment and tooling, primarily for our TSA suspensions,
and $3,745,000 of severance costs. See Note 3, "Asset Impairment and Other", in
the notes to the condensed consolidated financial statements.

Interest expense for the thirty-nine weeks ended June 24, 2001 was $11,855,000,
an increase of $2,079,000 from the comparable period in 2000, primarily due to
interest expense on capitalized leases.

Other income, net, for the thirty-nine weeks ended June 24, 2001 was
$11,195,000, an increase of $1,382,000 from the comparable period in 2000. This
increase was primarily due to an increase in interest income as a result of a
higher investment balance and a decrease in losses on disposals of assets.

The income tax benefit for the thirty-nine weeks ended June 24, 2001 was based
on an estimated effective tax rate for the fiscal year of 15%, which is below
the statutory federal rate primarily due to alternative minimum tax
considerations and uncertainty related to the Company's ability to offset future
income with net operating losses. We adjusted our effective tax rate for the
year from 10% to 15% during the third quarter of 2001, as a result of changes to
our recent forecast.

Net loss for the thirty-nine weeks ended June 24, 2001 was $23,707,000, compared
to a net loss of $75,189,000 for the comparable period in 2000. The 2000 net
loss included the above-mentioned asset write-down. Excluding the asset
write-down and severance costs in the first and third quarters of 2000 and
severance costs in the second quarter of both 2000 and 2001, the net loss as a
percent of net sales, decreased from (8)% for the thirty-nine weeks ended June
25, 2000 to (7)% for the thirty-nine weeks ended June 24, 2001.

LIQUIDITY AND CAPITAL RESOURCES

Our principal sources of liquidity are cash and cash equivalents, securities
available for sale, cash flow from operations and additional financing capacity.
Our cash and cash equivalents decreased from $129,314,000 at September 24, 2000
to $121,266,000 at June 24, 2001. Our securities available for sale increased
from $110,955,000 to $133,161,000 during the same period. Overall, this reflects
a $14,158,000 increase in our cash and cash equivalents and securities available
for sale. We generated cash from operating activities of $56,359,000 for the
thirty-nine weeks ended June 24, 2001.



<PAGE>   14

As of June 24, 2001, our $50,000,000 credit facility had a borrowing base of
$45,107,000, secured by our accounts receivable and inventory. Letters of credit
outstanding under this facility totaled $13,525,000 as of such date, including
$610,000 issued as security for our $600,000 variable rate demand note,
$12,290,000 issued in connection with obligations under equipment leases, and
$625,000 issued to support potential self-insured workmens' compensation
obligations. No other letters of credit were outstanding under the credit
facility at June 24, 2001. The amount we can borrow under this credit facility
is limited by the levels of our accounts receivable and inventory balances. As
of June 24, 2001, $31,557,000 of borrowing capacity remained available to us.

Cash used for capital expenditures totaled $23,362,000 for the thirty-nine weeks
ended June 24, 2001. We expect capital expenditures to be approximately
$30,000,000 for 2001, to be spent primarily for program tooling and
manufacturing and process technology and equipment. Financing of these capital
expenditures will be principally from internally generated funds, cash and cash
equivalents and securities available for sale.

Certain of our existing financing agreements contain financial covenants and
covenants which may restrict our ability to enter into certain types of
financing. We were in compliance with all such covenants at June 24, 2001. If we
are not in compliance with financial covenants in our financing agreements at
the end of any quarter, our future financial results and liquidity could be
materially adversely affected.

We currently believe that our cash and cash equivalents, securities available
for sale, cash generated from operations and credit facility will be sufficient
to meet our operating expenses, debt service requirements and capital
expenditures through 2001. We will pursue additional debt or equity financing to
supplement our current capital resources if needed beyond 2001. Our ability to
obtain additional financing will depend upon a number of factors, including our
future performance and financial results and general economic and capital market
conditions. We cannot be sure that we will be able to raise additional capital
on reasonable terms or at all.

MARKET TRENDS AND CERTAIN CONTINGENCIES

(A) MARKET TRENDS

We expect the expanding use of personal computers, enterprise computing and
storage, increasingly complex software and the emergence of new applications for
disk storage, such as Internet-related storage, digital video recording, digital
cameras, network attached storage, gaming consoles and other consumer
applications, will further increase disk drive demand and therefore, suspension
demand, in the future. We also believe demand for disk drives will continue to
be subject, as it has in the past, to rapid or unforeseen changes resulting
from, among other things, changes in disk drive inventory levels, technological
advances, responses to competitive price changes and unpredicted high or low
market acceptance of new drive models. Improvements in data density of hard disk
drives, extending from the desktop market to server drives, have reduced unit
shipments of suspension assemblies since the third quarter of 1999. Suspension
assembly shipments were significantly lower in quarters two and three compared
to quarter one of 2001 due to the lingering effects in the disk drive industry
of slower holiday season sales, previous overbuying by businesses, and concerns
about a weak economy. Shipments for the fourth quarter of 2001 are anticipated
to be up slightly over the third quarter, due to an extra week in the quarter.

As in past years, disk drives continue to be the storage device of choice for
applications requiring low access times and higher capacities because of their
speed and low cost per megabyte of stored data. The


<PAGE>   15

cost of storing data on disk drives continues to decrease primarily due to
increasing data density, the amount of data which can be stored on magnetic
disks, thereby reducing the number of components, including suspensions,
required in a disk drive.

The continual pursuit of increasing data density and lower storage costs are
leading to further value-added features for TSA suspensions, such as extended
electrical leads (tails) and switch shunts. A switch shunt helps our customers
prevent damage to the sensitive recording heads by reducing the risk of
electrostatic discharge. TSA suspensions also can be configured to allow for
attachment of preamplifiers near the head to improve data transfer signals.
Additionally, TSA suspensions allow for dual stage actuation, which incorporates
a second stage actuator on a suspension to improve head positioning over
increasingly tighter data tracks.

The introduction of new types or sizes of read/write heads and new disk drive
designs tends to initially decrease customers' yields with the result that we
may experience temporary elevations of demand for some types of suspension
assemblies. Likewise, as programs mature, higher yields decrease the demand for
suspension assemblies. The advent of new heads and new drive designs may require
rapid development and implementation of new suspension types which temporarily
may reduce our manufacturing yields and efficiencies. There can be no assurance
that we will not continue to be affected by such changes.

We generally experience fluctuating selling prices due to competitive pricing
pressures, product maturity, and new product offerings. While many of our
current products are reaching or are in the mature phase of their life cycles
and thus are experiencing declining selling prices, our newer products initially
have higher selling prices.

(B) CONTINGENCIES

On September 18, 2000, we commenced a lawsuit in the United States District
Court for the District of Minnesota against the Magnecomp Group, an
unincorporated association of companies, and seven members of the Magnecomp
Group. The lawsuit alleges that the Magnecomp Group has sold infringing products
without a license, and alleges infringement of nine of our patents related to
the design and manufacture of suspension assemblies. The lawsuit requests
damages, including treble damages, attorneys' fees, costs, and an injunction
against the Magnecomp Group.

On October 12, 2000, Magnecomp Corporation commenced a lawsuit in the United
States District Court for the Central District of California against us. The
lawsuit alleges that we sold products infringing four patents, engaged in
anti-competitive conduct in violation of federal and state antitrust laws, and
violated California state law regarding contractual interference and unfair
competition. The lawsuit requests damages, including treble damages, attorneys'
fees, costs, punitive damages, and an injunction against us. On December 8,
2000, the California District Court issued an order granting our motion to
transfer the California action to the United States District Court for the
District of Minnesota.

The two lawsuits described above have been consolidated for pre-trial purposes,
and both currently are in the discovery phase. We are vigorously defending the
lawsuit against us. However, in the event that the claims are adjudicated
adversely to us, our results of operations could be materially adversely
affected.

We and certain users of our products have from time to time received, and may in
the future receive, communications from third parties asserting patents against
us or our customers which may relate to our manufacturing equipment or to our
products or to products that include our products as a component.


<PAGE>   16

We are currently a party to the litigation described above. In addition, certain
of our customers have been sued on patents having claims closely related to
products we sell. If any third party makes a valid infringement claim and a
license were not available on terms acceptable to us, our operating results
could be adversely affected. We expect that, as the number of patents issued
continues to increase, and as we grow, the volume of intellectual property
claims could increase. We may need to engage in litigation to enforce patents
issued or licensed to us, protect trade secrets or know-how owned by us or
determine the enforceability, scope and validity of the intellectual property
rights of others. We could incur substantial costs in such litigation or other
similar legal actions, which could have a material adverse effect on our results
of operations.

We are a party to certain other claims arising in the ordinary course of
business. In our opinion, the outcome of such claims will not materially affect
our current or future financial position or results of operations.

(C)  OTHER MATTERS

In response to a World Trade Organization ("WTO") ruling that the United States
Foreign Sales Corporation ("FSC") provisions of the Internal Revenue Code
constituted a prohibited export subsidy, the United States government repealed
the FSC provisions and, in November of 2000, enacted The Extraterritorial Income
Exclusion ("EIE"). Under the WTO rules, the European Union ("EU") asked the WTO
dispute resolution panel for a ruling as to whether or not the EIE was also a
prohibited export subsidy. In late June 2001, the WTO dispute resolution panel
ruled that the EIE also constituted a prohibited export subsidy.

As of July 30, 2001, the United States had not indicated publicly how it will
respond to the late June 2001 ruling. In the interim, EIE is the law in the
United States and under it, we expect to earn a net benefit similar to what we
earned under the FSC.

FORWARD-LOOKING STATEMENTS

The statements above under the headings "General" and "Market Trends and Certain
Contingencies" about demand for and shipments of disk drives and suspension
assemblies, including TSA suspensions, manufacturing capacity and yields and
selling prices, and the statements above under the heading "Liquidity and
Capital Resources" about capital expenditures and capital resources, are
forward-looking statements based on current expectations. These statements are
subject to risks and uncertainties, including slower or faster customer
acceptance and adoption of new product features, fluctuating order rates, faster
or slower improvements in disk drive data densities which affect suspension
assembly demand, changes in market consumption of disk drives or suspension
assemblies, difficulties in producing our TSA suspensions, difficulties in
managing capacity, changes in manufacturing efficiencies and the other risks and
uncertainties discussed above. These factors may cause our actual future results
to differ materially from historical earnings and from the financial performance
we presently anticipate.


<PAGE>   17



       ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Our credit facility with The CIT Group/Business Credit, Inc. carries interest
rate risk, in connection with certain borrowings under the working capital line
it provides, that is generally related to either LIBOR or the prime rate. If
either of these rates were to change while we had such borrowings outstanding
under the working capital line provided by the credit facility, interest expense
would increase or decrease accordingly. At June 24, 2001, there were $25,000 in
outstanding borrowings under the working capital line provided by the credit
facility. Our variable rate demand note ("Note") also carries interest rate risk
that is generally related to the 91-day U.S. treasury bill interest rate. At
June 24, 2001, the outstanding principal amount of the Note was $600,000 which
was subject to an interest rate of 3.05%.

We have no earnings or cash flow exposure due to market risk on our other debt
obligations which are subject to fixed interest rates. Interest rate changes,
however, would affect the fair market value of this fixed rate debt. At June 24,
2001, we had fixed rate debt of $198,835,000.

We do not enter into derivative or other financial instruments for trading or
speculative purposes. All of our sales transactions are denominated in U.S.
dollars and thus are not subject to risk due to currency exchange fluctuations.


<PAGE>   18



                    ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

(A)  EXHIBITS:

Unless otherwise indicated, all documents incorporated herein by reference to a
document filed with the Securities and Exchange Commission pursuant to the
Securities Exchange Act of 1934, as amended, are located under SEC file number
0-14709.

3.1      Restated Articles of Incorporation of HTI, as amended by Articles of
         Amendment dated 1/27/88 and as amended by Articles of Amendment dated
         1/21/97 (incorporated by reference to Exhibit 3.1 to HTI's Quarterly
         Report on Form 10-Q for the quarter ended 6/29/97).

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 12/29/96) and
         Amendments to Restated By-Laws of HTI dated 7/19/00 (incorporated by
         reference to Exhibit 3.2 to HTI's Quarterly Report on Form 10-Q for the
         quarter ended 6/25/00).

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      Indenture dated as of 3/18/98 between HTI and U.S. Bank National
         Association, as Trustee (incorporated by reference to Exhibit 4.6 to
         HTI's Registration Statement on Form S-3, Registration No. 333-50143).

4.3      Purchase Agreement dated 3/12/98 by and among HTI, NationsBanc
         Montgomery Securities LLC and First Chicago Capital Markets, Inc.
         (incorporated by reference to Exhibit 4.7 to HTI's Registration
         Statement on Form S-3, Registration No. 333-50143).

4.4      Shelf Registration Agreement dated as of 3/18/98 by and among HTI,
         NationsBanc Montgomery Securities LLC and First Chicago Capital
         Markets, Inc. (incorporated by reference to Exhibit 4.8 to HTI's
         Registration Statement on Form S-3, Registration No. 333-50143).

10.1     Office/Warehouse Lease between OPUS Corporation, Lessor, and HTI,
         Lessee, dated 12/29/95 (incorporated by reference to Exhibit 10.2 to
         HTI's Quarterly Report on Form 10-Q for the quarter ended 3/24/96), and
         First Amendment to Office/Warehouse Lease dated 4/30/96 (incorporated
         by reference to Exhibit 10.2 to HTI's Quarterly Report on Form 10-Q for
         the quarter ended 6/23/96).

#10.2    Directors' Retirement Plan effective as of 1/1/92 (incorporated by
         reference to Exhibit 10.12 to HTI's Annual Report on Form 10-K for the
         fiscal year ended 9/27/92) and Amendment effective as of 11/19/97
         (incorporated by reference to Exhibit 10.5 to HTI's Quarterly Report on
         Form 10-Q for the quarter ended 12/28/97).

#10.3    1988 Stock Option Plan (incorporated by reference to Exhibit 10.8 to
         HTI's Annual Report on Form 10-K for the fiscal year ended 9/25/88),
         Amendment to the 1988 Stock Option Plan (incorporated by reference to
         Exhibit 10.5 to HTI's Annual Report on Form 10-K for the fiscal year
         ended 9/26/93), and Amendment to the 1988 Stock Option Plan
         (incorporated by reference to Exhibit 10.5 to HTI's Quarterly Report on
         Form 10-Q for the quarter ended 3/26/95).
<PAGE>   19

10.4     Patent License Agreement, effective as of 9/1/94, between HTI and
         International Business Machines Corporation (incorporated by reference
         to Exhibit 10.11 to HTI's Quarterly Report on Form 10-Q/A for the
         quarter ended 6/25/95).

10.5     Lease Agreement between Meridian Eau Claire LLC and HTI, dated 5/1/96
         (incorporated by reference to Exhibit 10.10 to HTI's Quarterly Report
         on Form 10-Q for the quarter ended 6/23/96) and First Amendment to
         Lease (incorporated by reference to Exhibit 10.6 to HTI's Annual Report
         on Form 10-K for the fiscal year ended 9/24/00).

10.6     Master Lease Agreement dated as of 12/19/96 between General Electric
         Capital Corporation, as Lessor ("GE"), and HTI, as Lessee (incorporated
         by reference to Exhibit 10.11 to HTI's Quarterly Report on Form 10-Q
         for the quarter ended 12/29/96), Amendment dated 6/30/97 to the Master
         Lease Agreement between GE and HTI (incorporated by reference to
         Exhibit 10.11 to HTI's Quarterly Report on Form 10-Q for the quarter
         ended 12/28/97), letter amendment dated 3/5/98 to the Master Lease
         Agreement between GE and HTI (incorporated by reference to Exhibit
         10.11 to HTI's Quarterly Report on Form 10-Q for the quarter ended
         3/29/98), letter amendment dated 9/25/98 to the Master Lease Agreement
         between GE and HTI (incorporated by reference to Exhibit 10.11 to HTI's
         Annual Report on Form 10-K for the fiscal year ended 9/27/98), letter
         amendment dated 1/11/00, effective as of 12/22/99, to the Master Lease
         Agreement between GE and HTI (incorporated by reference to Exhibit 10.1
         to HTI's Quarterly Report on Form 10-Q for the quarter ended 12/26/99),
         and letter amendment dated 8/31/00 to the Master Lease Agreement
         between GE and HTI (incorporated by reference to Exhibit 10.7 to HTI's
         Annual Report on Form 10-K for the fiscal year ended 9/24/00).

#10.7    Hutchinson Technology Incorporated 1996 Incentive Plan (incorporated by
         reference to Exhibit 10.12 to HTI's Quarterly Report on Form 10-Q for
         the quarter ended 12/29/96).

#10.8    Hutchinson Technology Incorporated Incentive Bonus Plan (incorporated
         by reference to Exhibit 10.13 to HTI's Quarterly Report on Form 10-Q
         for the quarter ended 12/28/97).

#10.9    Description of Fiscal Year 2001 Management Bonus Plan of Hutchinson
         Technology Incorporated (incorporated by reference to Exhibit 10.10 to
         HTI's Quarterly Report on Form 10-Q for the quarter ended 12/24/00).

#  Management contract, compensatory plan or arrangement required to be filed as
   an exhibit to this Quarterly Report on Form 10-Q.

(B)  REPORTS ON FORM 8-K:

No Current Reports on Form 8-K were filed by the Company during the thirteen
weeks ended June 24, 2001.




<PAGE>   20


                                   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:  July 31, 2001              By /s/Wayne M. Fortun
      -----------------------        ------------------------------------------
                                     Wayne M. Fortun
                                     President and Chief Executive Officer



Date:  July 31, 2001              By /s/John A. Ingleman
      -----------------------        ------------------------------------------
                                     John A. Ingleman
                                     Vice President, Chief Financial Officer
                                          and Secretary




<PAGE>   21



                                INDEX TO EXHIBITS


<TABLE>
<CAPTION>
      Exhibit
        No.                                                                                                  Page
-------------------                                                                                        ---------
<S>                  <C>                                                                             <C>
        3.1          Restated Articles of Incorporation of HTI, as amended by Articles of            Incorporated by
                     Amendment dated 1/27/88 and as amended by Articles of Amendment dated           Reference
                     1/21/97 (incorporated by reference to Exhibit 3.1
                     to HTI's Quarterly Report on Form 10-Q for the quarter
                     ended 6/29/97)

        3.2          Restated By-Laws of HTI (incorporated by reference to Exhibit 3.2 to HTI's      Incorporated by
                     Quarterly Report on Form 10-Q for the quarter ended 12/29/96) and Amendments    Reference
                     to Restated By-Laws of HTI dated 7/19/00 (incorporated by reference to
                     Exhibit  3.2 to HTI's Quarterly Report on Form 10-Q for the quarter ended
                     6/25/00).

        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          Indenture dated as of 3/18/98 between HTI and U.S. Bank National Association,   Incorporated by
                     as Trustee (incorporated by reference to Exhibit 4.6 to HTI's Registration      Reference
                     Statement on Form S-3, Registration No. 333-50143).

        4.3          Purchase Agreement dated 3/12/98 by and among HTI, NationsBanc Montgomery       Incorporated by
                     Securities LLC and First Chicago Capital Markets, Inc. (incorporated by         Reference
                     reference to Exhibit 4.7 to HTI's Registration Statement on Form S-3,
                     Registration No. 333-50143).

        4.4          Shelf Registration Agreement dated as of 3/18/98 by and among HTI,              Incorporated by
                     NationsBanc Montgomery Securities LLC and First Chicago Capital Markets,        Reference
                     Inc. (incorporated by reference to Exhibit 4.8 to HTI's Registration
                     Statement on Form S-3, Registration No. 333-50143).

        10.1         Office/Warehouse Lease between OPUS Corporation, Lessor, and HTI, Lessee,       Incorporated by
                     dated 12/29/95 (incorporated by reference to Exhibit 10.2 to HTI's Quarterly    Reference
                     Report on Form 10-Q for the quarter ended 3/24/96), and First Amendment to
                     Office/Warehouse Lease dated 4/30/96 (incorporated by reference to Exhibit
                     10.2 to HTI's Quarterly Report on Form 10-Q for the quarter ended 6/23/96).
</TABLE>

<PAGE>   22

<TABLE>
<S>                  <C>                                                                             <C>
        10.2         Directors' Retirement Plan effective as of 1/1/92 (incorporated by reference    Incorporated by
                     to Exhibit 10.12 to HTI's Annual Report on Form 10-K for the fiscal year        Reference
                     ended 9/27/92) and Amendment effective as of 11/19/97 (incorporated by
                     reference to Exhibit 10.5 to HTI's Quarterly Report on Form 10-Q for the
                     quarter ended 12/28/97).

        10.3         1988 Stock Option Plan (incorporated by reference to Exhibit 10.8 to HTI's      Incorporated by
                     Annual Report on Form 10-K for the fiscal year ended 9/25/88), Amendment to     Reference
                     the 1988 Stock Option Plan (incorporated by reference to Exhibit 10.5 to
                     HTI's Annual Report on Form 10-K for the fiscal year ended 9/26/93), and
                     Amendment to the 1988 Stock Option Plan (incorporated by reference to Exhibit
                     10.5 to HTI's Quarterly Report on Form 10-Q for the quarter ended 3/26/95).

        10.4         Patent License Agreement, effective as of 9/1/94, between HTI and               Incorporated by
                     International Business Machines Corporation (incorporated by reference to       Reference
                     Exhibit 10.11 to HTI's Quarterly Report on Form 10-Q/A for the quarter ended
                     6/25/95).

        10.5         Lease Agreement between Meridian Eau Claire LLC and HTI, dated 5/1/96           Incorporated by
                     (incorporated by reference to Exhibit 10.10 to HTI's Quarterly Report on Form   Reference
                     10-Q for the quarter ended 6/23/96) and First Amendment to Lease
                     (incorporated by reference to Exhibit 10.6 to HTI's Annual Report on Form
                     10-K for the fiscal year ended 9/24/00).

        10.6         Master Lease Agreement dated as of 12/19/96 between General Electric Capital    Incorporated by
                     Corporation, as Lessor ("GE"), and HTI, as Lessee (incorporated by reference    Reference
                     to Exhibit 10.11 to HTI's Quarterly Report on Form 10-Q for the quarter ended
                     12/29/96), Amendment dated 6/30/97 to the Master Lease Agreement between GE
                     and HTI (incorporated by reference to Exhibit 10.11 to HTI's Quarterly Report
                     on Form 10-Q for the quarter ended 12/28/97), letter amendment dated 3/5/98
                     to the Master Lease Agreement between GE and HTI (incorporated by reference
                     to Exhibit 10.11 to HTI's Quarterly Report on Form 10-Q for the quarter ended
                     3/29/98), letter amendment dated 9/25/98 to the Master Lease Agreement
                     between GE and HTI (incorporated by reference to Exhibit 10.11 to HTI's
                     Annual Report on Form 10-K for the fiscal year ended 9/27/98), letter
                     amendment dated 1/11/00, effective as of 12/22/99, to the Master Lease
                     Agreement between GE and HTI (incorporated by reference to Exhibit 10.1 to
                     HTI's Quarterly Report on Form 10-Q for the quarter ended 12/26/99), and
                     letter amendment dated 8/31/00 to the Master Lease Agreement between GE and
                     HTI (incorporated by reference to Exhibit 10.7 to HTI's Annual Report on Form
                     10-K for the fiscal year ended 9/24/00).
</TABLE>

<PAGE>   23

<TABLE>
<S>                  <C>                                                                             <C>
        10.7         Hutchinson Technology Incorporated 1996 Incentive Plan (incorporated by         Incorporated by
                     reference to Exhibit 10.12 to HTI's Quarterly Report on Form 10-Q for the       Reference
                     quarter ended 12/29/96).

        10.8         Hutchinson Technology Incorporated Incentive Bonus Plan (incorporated by        Incorporated by
                     reference to Exhibit 10.13 to HTI's Quarterly Report on Form 10-Q for the       Reference
                     quarter ended 12/28/97).

        10.9         Description of Fiscal Year 2001 Management Bonus Plan of Hutchinson             Incorporated by
                     Technology Incorporated (incorporated by reference to Exhibit 10.10 to HTI's    Reference
                     Quarterly Report on Form 10-Q for the quarter ended 12/24/00).
</TABLE>