<PAGE>
                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 DECEMBER 29, 2002
                                               -----------------

                                       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 by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act).

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 February 3, 2003 the registrant had 25,513,786 shares of Common Stock
issued and outstanding.
<PAGE>
                          PART I. FINANCIAL INFORMATION
                          ITEM 1. FINANCIAL STATEMENTS.

                       HUTCHINSON TECHNOLOGY INCORPORATED
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                       (In thousands, except shares data)

<TABLE>
<CAPTION>
                                                                            December 29,
                                                                                2002                 September 29,
                                                                             (Unaudited)                  2002
                                                                            ------------             -------------
<S>                                                                         <C>                      <C>
ASSETS
Current assets:
   Cash and cash equivalents                                                $     65,386             $      57,852
   Securities available for sale                                                 164,144                   151,257
   Trade receivables, net                                                         53,975                    51,363
   Other receivables                                                               4,114                     4,590
   Inventories                                                                    23,834                    27,110
   Prepaid taxes and other (Note 8)                                               11,243                    12,376
                                                                            ------------             -------------
         Total current assets                                                    322,696                   304,548
Property, plant and equipment, net                                               178,292                   181,494
Deferred tax assets                                                               44,251                    46,883
Other assets (Note 8)                                                             25,745                    29,176
                                                                            ------------             -------------
                                                                            $    570,984             $     562,101
                                                                            ============             =============
LIABILITIES AND SHAREHOLDERS' INVESTMENT
Current liabilities:
   Current maturities of long-term debt                                     $        253             $         253
   Capital lease obligation                                                        4,457                     7,250
   Accounts payable                                                               19,321                    17,793
   Accrued expenses                                                               16,031                    12,942
   Accrued compensation                                                           19,497                    21,580
                                                                            ------------             -------------
         Total current liabilities                                                59,559                    59,818
Long-term debt, less current maturities                                              371                       371
Convertible subordinated notes                                                   132,529                   143,500
Other long-term liabilities                                                        1,213                     1,451
Shareholders' investment:
   Common stock, $.01 par value, 45,000,000 shares authorized,
        25,458,000 and 25,355,000 issued and outstanding                             255                       254
   Additional paid-in capital                                                    371,406                   369,641
   Accumulated other comprehensive income                                            885                       640
   Accumulated earnings (deficit)                                                  4,766                   (13,574)
                                                                            ------------             -------------
         Total shareholders' investment                                          377,312                   356,961
                                                                            ------------             -------------
                                                                            $    570,984             $     562,101
                                                                            ============             =============
</TABLE>

See accompanying notes to condensed consolidated financial statements -
unaudited.
<PAGE>
                       HUTCHINSON TECHNOLOGY INCORPORATED
          CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
                     (In thousands, except per share data)

<TABLE>
<CAPTION>
                                                                             Thirteen Weeks Ended
                                                                    --------------------------------------
                                                                    December 29,              December 30,
                                                                        2002                       2001
                                                                    ------------              ------------
<S>                                                                 <C>                       <C>
Net sales                                                           $    132,862              $     92,717

Cost of sales                                                             91,434                    71,497
                                                                    ------------              ------------

   Gross profit                                                           41,428                    21,220

Research and development expenses                                          3,448                     4,531

Selling, general and administrative expenses                              15,044                    12,296

Litigation settlement (Note 11)                                               --                    (2,632)
                                                                    ------------              ------------

   Income from operations                                                 22,936                     7,025

Interest expense                                                          (2,235)                   (3,604)

Interest income                                                            1,423                     2,045

Gain on debt extinguishment (Note 9)                                         221                        --

Other income, net                                                            297                       169
                                                                    ------------              ------------

   Income before income taxes                                             22,642                     5,635

Provision for income taxes                                                 4,302                       845
                                                                    ------------              ------------

   Net income                                                       $     18,340              $      4,790
                                                                    ============              ============

Basic earnings per share                                            $       0.72              $       0.19
Diluted earnings per share                                          $       0.65              $       0.19

Weighted average common shares outstanding                                25,414                    25,222
Weighted average common and diluted shares outstanding                    30,455                    25,520
</TABLE>

See accompanying notes to condensed consolidated financial statements -
unaudited.
<PAGE>
                       HUTCHINSON TECHNOLOGY INCORPORATED
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                                                           Thirteen Weeks Ended
                                                                                  --------------------------------------
                                                                                  December 29,              December 30,
                                                                                      2002                      2001
                                                                                  ------------              ------------
<S>                                                                               <C>                       <C>
Operating activities:
   Net income                                                                     $     18,340              $      4,790
   Adjustments to reconcile net income to cash
      provided by operating activities:
         Depreciation and amortization                                                  13,814                    14,163
         Deferred taxes                                                                  3,012                        96
         Changes in operating assets and liabilities (Note 10)                           7,198                    (2,357)
                                                                                  ------------              ------------
                    Cash provided by operating activities                               42,364                    16,692
                                                                                  ------------              ------------
Investing activities:
   Capital expenditures                                                                (10,453)                   (6,802)
   Purchases of marketable securities                                                  (58,023)                  (86,534)
   Sales of marketable securities                                                       45,644                   143,536
                                                                                  ------------              ------------
                    Cash provided by (used for) investing activities                   (22,832)                   50,200
                                                                                  ------------              ------------
Financing activities:
   Repayments of long-term debt                                                        (10,971)                   (4,150)
   Repayments of capital lease obligation                                               (2,793)                   (1,939)
   Net proceeds from issuance of common stock                                            1,766                     1,509
                                                                                  ------------              ------------
                    Cash used for financing activities                                 (11,998)                   (4,580)
                                                                                  ------------              ------------

Net increase in cash and cash equivalents                                                7,534                    62,312

Cash and cash equivalents at beginning of period                                        57,852                   113,313
                                                                                  ------------              ------------

Cash and cash equivalents at end of period                                        $     65,386              $    175,625
                                                                                  ============              ============
</TABLE>

See accompanying notes to condensed consolidated financial statements -
unaudited.
<PAGE>
                       HUTCHINSON TECHNOLOGY INCORPORATED
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - UNAUDITED
        (Columnar dollar amounts in thousands except per share amounts)

When  we  refer  to the  "Company"  or  "HTI,"  we  mean  Hutchinson  Technology
Incorporated and its  subsidiaries.  Unless otherwise  indicated,  references to
"2003" mean HTI's fiscal year ending  September  28, 2003,  references to "2002"
mean HTI's fiscal year ended  September  29, 2002 and  references to "2001" mean
HTI's fiscal year ended September 30, 2001.

(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 of America
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

In August  2001,  the  Financial  Accounting  Standards  Board  ("FASB")  issued
Statement  of  Financial  Accounting  Standards  No.  144,  "Accounting  for the
Impairment  or Disposal of  Long-Lived  Assets"  ("FAS 144"),  which  supersedes
Statement  of  Financial  Accounting  Standards  No.  121,  "Accounting  for the
Impairment of  Long-Lived  Assets and for  Long-Lived  Assets to Be Disposed Of"
("FAS 121") and amends  Accounting  Principles Board Opinion No. 30,  "Reporting
the Effects of Disposal of a Segment of a Business,  and Extraordinary,  Unusual
and  Infrequently  Occurring  Events and  Transactions."  FAS 144 requires  that
long-lived assets that are to be disposed of by sale be measured at the lower of
book value or fair value less costs to sell.  FAS 144  retains  the  fundamental
provisions of FAS 121 for (a)  recognition  and measurement of the impairment of
long-lived  assets to be held and used, and (b) measurement of long-lived assets
to be  disposed  of by sale.  The  Company  was  required  to  adopt  FAS 144 on
September  30, 2002.  The adoption of FAS 144 did not have a material  impact on
the Company's consolidated balance sheet or results of operations.

In April 2002, the FASB issued Statement of Financial  Accounting  Standards No.
145,  "Rescission  of FASB  Statements  No.  4, 44,  and 64,  Amendment  of FASB
Statement  No. 13, and  Technical  Corrections"  ("FAS  145").  FAS 145 rescinds
Statement of Financial  Accounting  Standards No. 4, "Reporting Gains and Losses
from  Extinguishment  of  Debt,"  which  required  all  gains  and  losses  from
extinguishment  of debt to be classified as an  extraordinary  item.  FAS 145 is
effective for fiscal years  beginning  after May 15, 2002,  with early  adoption
encouraged.  The Company  adopted  FAS 145 as of July 1, 2002,  at which time it
began classifying gains and losses resulting from the  extinguishment of debt as
a separate component in income from continuing  operations.  The adoption of FAS
145 did not have a material impact on the Company's  consolidated  balance sheet
or results of operations.

In June 2002, the FASB issued  Statement of Financial  Accounting  Standards No.
146,  "Accounting for Costs Associated with Exit or Disposal  Activities"  ("FAS
146"). FAS 146 addresses financial accounting and reporting for costs associated
with exit or  disposal  activities  and  nullifies  Emerging  Issues  Task Force
("EITF") Issue No. 94-3. The Company will be required to adopt FAS 146 effective
for any exit or disposal  activities that are initiated after December 31, 2002.
The  adoption  of FAS 146 is not  expected  to  have a  material  impact  on the
Company's consolidated balance sheet or results of operations.
<PAGE>
In September  2002,  the EITF of FASB  reached a consensus  on Issue No.  02-15,
"Determining   Whether  Certain   Conversions  of  Convertible  Debt  to  Equity
Securities are Within the Scope of FASB Statement No. 84, Induced Conversions of
Convertible  Debt." The EITF  deliberated  this issue  because of  diversity  in
practice  in the  accounting  for  conversions  of  convertible  debt to  equity
initiated by the debt holder.  The EITF  concluded  that FASB  Statement  No. 84
applies to conversions of convertible  debt when the offer for  consideration in
excess of the  original  conversion  terms is made by the  bondholder.  The EITF
concluded that this guidance should be followed for transactions completed after
September 12, 2002. The adoption of EITF Issue No. 02-15 did not have a material
impact on the Company's consolidated balance sheet or results of operations.

In  November  2002,  the FASB issued FASB  Interpretation  No. 45,  "Guarantor's
Accounting  and  Disclosure  Requirements  for  Guarantees,  Including  Indirect
Guarantees  of  Indebtedness  of  Others"  ("FIN  45").  FIN  45  clarifies  the
requirements  for a guarantor's  accounting for and disclosure of certain issued
and outstanding  guarantees.  The initial  recognition  and initial  measurement
provisions  of FIN 45 are  applicable  to  guarantees  issued or modified  after
December 31, 2002.  The  disclosure  requirements  of FIN 45 are  effective  for
financial  statements  of interim or annual  periods  ending after  December 15,
2002.  The  adoption of FIN 45 did not have a material  impact on the  Company's
consolidated balance sheet or results of operations.

In December 2002, the FASB issued  Statement of Financial  Accounting  Standards
No. 148, "Accounting for Stock-Based  Compensation -- Transition and Disclosure"
("FAS 148"), which amends Statement of Financial  Accounting  Standards No. 123,
"Accounting  for  Stock-Based   Compensation"  ("FAS  123").  FAS  148  provides
alternative methods of transition for a voluntary change to the fair value based
method of accounting for stock-based employee compensation. In addition, FAS 148
amends the disclosure requirements of FAS 123 to require more prominent and more
frequent  disclosures  in  financial  statements  of the effects of  stock-based
compensation.  The transition  guidance and annual disclosure  provisions of FAS
148 are effective for fiscal years ending after  December 15, 2002.  The interim
disclosure  provisions are effective for financial reports containing  condensed
financial  statements for interim periods beginning after December 15, 2002. The
adoption of FAS 148 is not expected to have a material  impact on the  Company's
consolidated  balance sheet or results of  operations.  The Company will provide
the interim  disclosures  required by FAS 148 beginning in the second quarter of
2003.

(3)  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 engaged in the  development  and
production  of products for the medical  device  market,  but does not expect to
generate significant revenue during 2003.

A breakdown of customer sales is as follows:

<TABLE>
<CAPTION>
                                                      Thirteen Weeks Ended
                                                --------------------------------
                                                December 29,        December 30,
Percentage of Net Sales                            2002                 2001
-----------------------                         ------------        ------------
<S>                                             <C>                 <C>
Five Largest Customers                              86%                  73%
   Alps Electric Co., Ltd.                          27                    9
   SAE Magnetics, Ltd./TDK                          23                   23
   Seagate Technology LLC                           21                   10
   IBM and affiliates                                9                   15
   K.R. Precision Co.                                6                    5
   Read-Rite Corporation                             2                   16
</TABLE>
<PAGE>
(4) TRADE RECEIVABLES

The  Company  grants  credit  to  customers,  but  generally  does  not  require
collateral or any other security to support  amounts due.  Trade  receivables of
$53,975,000  at December 29, 2002 and  $51,363,000 at September 29, 2002 are net
of allowances of $4,366,000  and  $3,662,000,  respectively.  As of December 29,
2002, allowances of $4,366,000 consisted of $2,999,000 in allowance for doubtful
accounts and $1,367,000 in reserve for sales returns and allowances.

The  Company  warrants  that the goods  sold by it will be free from  defects in
materials  and  workmanship  for a period of 60 days  following  delivery to the
customer.  Upon  determination  that the goods sold are  defective,  the Company
typically accepts the return of such goods and refunds the purchase price to the
customer.  The Company records a provision against revenue for estimated returns
on sales of its  products  in the same  period  that the  related  revenues  are
recognized.  The Company bases the allowance on historical  product returns,  as
well as existing  product return  notifications.  The following table reconciles
the changes in the Company's allowance for sales returns under warranties:

<TABLE>
<CAPTION>
                                 Changes in the          Reductions in the
               September 29,  allowance related to         allowance for          December 29,
                    2002       warranties issued      returns under warranties        2002
               -------------  --------------------    ------------------------    ------------
               <S>            <C>                     <C>                         <C>
                 $663,000          $1,727,000               $(1,023,000)           $1,367,000
</TABLE>

(5) INVENTORIES

Inventories  are  valued at the lower of cost  (first-in,  first-out  method) or
market by analyzing market conditions, current sales prices, inventory costs and
inventory balances.  Inventories consisted of the following at December 29, 2002
and September 29, 2002:

<TABLE>
<CAPTION>
                                                December 29,             September 29,
                                                    2002                     2002
                                                ------------             -------------
<S>                                             <C>                      <C>
                 Raw materials                  $      8,601             $       6,240
                 Work in process                       5,159                     6,123
                 Finished goods                       10,074                    14,747
                                                ------------             -------------
                                                $     23,834             $      27,110
                                                ============             =============
</TABLE>

(6)  EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income  available to common
shareholders by the weighted average number of common shares  outstanding during
the year. Diluted earnings per share is computed under the treasury stock method
and is calculated to compute the dilutive effect of potential  common shares.  A
reconciliation of these amounts is as follows:

<TABLE>
<CAPTION>
                                                                                      Thirteen Weeks Ended
                                                                               -------------------------------------
                                                                               December 29,             December 30,
                                                                                  2002                     2001
                                                                               ------------             ------------
<S>                                                                            <C>                      <C>
Net income (A)                                                                 $     18,340             $      4,790
Plus:  interest expense on convertible subordinated notes                             2,150                       --
Less:  additional profit-sharing expense and income tax provision                       583                       --
                                                                               ------------             ------------
Net income available to common shareholders (B)                                $     19,907             $      4,790
                                                                               ============             ============

Weighted average common shares outstanding (C)                                       25,414                   25,222
Dilutive potential common shares                                                      5,041                      298
                                                                               ------------             ------------
Weighted average common and diluted shares outstanding (D)                           30,455                   25,520
                                                                               ============             ============

Basic earnings per share [(A)/(C)]                                             $       0.72             $       0.19
Diluted earnings per share [(B)/(D)]                                           $       0.65             $       0.19
</TABLE>

Potential  common  shares of 5,291,000,  relating to the  Company's  outstanding
convertible  subordinated  notes,  were excluded from the computation of diluted
earnings per share for the thirteen  weeks ended December 30, 2001, as inclusion
of these shares would have been antidilutive.
<PAGE>
(7)  INCOME TAXES

The following table details the significant components of the Company's deferred
tax assets:

<TABLE>
<CAPTION>
                                                                December 29,                 September 29,
                                                                    2002                         2002
                                                                ------------                 -------------
<S>                                                             <C>                          <C>
Current deferred tax assets:
         Receivable allowance                                   $      1,594                 $       1,327
         Inventories                                                   4,185                         4,596
         Accruals and other reserves                                   5,379                         6,125
         Valuation allowance                                          (4,529)                       (4,777)
                                                                ------------                 -------------
            Total current deferred tax assets                          6,629                         7,271
                                                                ------------                 -------------

Long-term deferred tax assets:
         Property, plant and equipment                                14,576                        15,654
         Tax credits                                                  13,319                        12,386
         Net operating loss carryforwards                             68,099                        71,801
         Valuation allowance                                         (51,743)                      (52,958)
                                                                ------------                 -------------
             Total long-term deferred tax assets                      44,251                        46,883
                                                                ------------                 -------------

Total deferred tax assets                                       $     50,880                 $      54,154
                                                                ============                 =============
</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 December 29, 2002, the
Company's  deferred  tax assets  included  $13,319,000  of unused  tax  credits,
$3,079,000 of which can be carried forward indefinitely and $10,240,000 of which
begin to expire at various dates  beginning in 2010.  At December 29, 2002,  the
Company's  balance sheet included  $68,099,000 of deferred tax assets related to
net  operating  loss  carryforwards  that will  begin to  expire in 2018.  As of
December  29,  2002,  the Company had an estimated  federal net  operating  loss
carryforward of approximately  $176,344,000 for United States federal tax return
purposes.  A portion of the credits and net  operating  loss  carryforwards  are
subject to an annual  limitation  under  United  States  Internal  Revenue  Code
("IRC") Section 382. A valuation allowance of $56,272,000 has been recognized to
offset the related  deferred tax assets due to the  uncertainty of realizing the
benefits of certain tax credits and net operating loss carryforwards.


(8)  OTHER ASSETS

During the second quarter of 2002, the Company prepaid  $26,000,000 related to a
technology and development  agreement.  As of December 29, 2002, the unamortized
portion of the prepayment was  $22,826,000,  of which $3,174,000 was included in
"Prepaid taxes and other" and  $19,652,000 was included in "Other assets" on the
accompanying  condensed consolidated balance sheet. The unamortized portion will
be amortized on a straightline basis through the remaining term of the agreement
which ends in 2010.

<PAGE>
(9)  GAIN ON DEBT EXTINGUISHMENT

During the first quarter of 2003, the Company repurchased  $10,971,000 of its 6%
Convertible  Subordinated Notes at a pre-tax gain of $221,000. These notes had a
maturity  date of March 15, 2005.  This  extinguishment  of debt will reduce the
Company's interest expense in 2003 by approximately $648,000.

(10)  SUPPLEMENTARY CASH FLOW INFORMATION

<TABLE>
<CAPTION>
                                                                          Thirteen Weeks Ended
                                                                  --------------------------------------
                                                                  December 29,              December 30,
                                                                     2002                      2001
                                                                  ------------              ------------
     <S>                                                           <C>                       <C>
     Changes in operating assets and liabilities:
              Receivables, net                                    $     (2,136)             $     (4,555)
              Inventories                                                3,276                    (3,557)
              Prepaid and other assets                                   3,627                      (690)
              Accounts payable and accrued expenses                      2,669                     6,941
              Other non-current liabilities                               (238)                     (496)
                                                                  ------------              ------------
                                                                  $      7,198              $     (2,357)
                                                                  ============              ============

     Cash paid (refunded) for:
              Interest (net of amount capitalized)                $        188              $      1,120
              Income taxes                                        $          7              $       (425)
</TABLE>

Capitalized interest for the thirteen weeks ended December 29, 2002 was $180,000
compared to $251,000 for the comparable period in 2002. Interest is capitalized,
using an overall  borrowing  rate,  for  assets  that are being  constructed  or
otherwise  produced for the Company's own use. Interest  capitalized  during the
thirteen  weeks ended  December  29, 2002 was related  primarily  to new program
tooling and process technology and capability improvements.

(11) LITIGATION SETTLEMENT

During the first quarter of 2002, the Company  recorded an increase to operating
income of  $2,632,000  as a result of a  reimbursement  of legal  expenses  from
another party and insurance  proceeds  related to litigation  defense costs. The
reimbursement  of legal expenses is to be paid in installments  through 2006 and
is recorded at the net present value of the remaining payments.

(12) LEGAL CONTINGENCIES

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 products that
include the  Company's  products as a  component.  In  addition,  certain of the
Company's  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 is 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 or cash
flows.

The  Company is a party to certain  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, results of
operations or cash flows.
<PAGE>
(13)  OTHER MATTERS

Over the course of the last two years, the World Trade Organization  ("WTO") has
ruled that the Foreign Sales Corporation  ("FSC") provisions of the IRC, and the
FSC's replacement provisions contained in the Extraterritorial  Income Exclusion
Act of 2002 ("ETI"), are prohibited export subsidies under the rules of the WTO.
Federal legislation was proposed in 2002 that included a provision to repeal the
ETI.  Until the ETI provisions of the IRC are repealed,  the Company  expects to
earn a net benefit under the ETI provisions  similar to that  previously  earned
under the FSC provisions of the IRC.

(14)  SEGMENT REPORTING

The  Company  follows  the  provisions  of  Statement  of  Financial  Accounting
Standards No. 131,  "Disclosures  about  Segments of an  Enterprise  and Related
Information"  ("FAS  131").  FAS 131  establishes  annual and interim  reporting
standards for an enterprise's  business  segments and related  disclosures about
its products,  services,  geographic areas and major  customers.  The method for
determining  what  information  to  report  is  based  upon  the way  management
organizes  the  operating  segments  within the  Company  for  making  operating
decisions and assessing financial  performance.  The Company considers its chief
operating decision-maker to be the Chief Executive Officer.

The Company has determined that it has two reportable  segments:  the Disk Drive
Division  and  the  BioMeasurement  Division.  The  accounting  policies  of the
segments  are  the  same  as  those  described  in the  summary  of  significant
accounting policies in the Company's latest Annual Report on Form 10-K.

The following  table  represents net sales and operating  income (loss) for each
reportable segment.

<TABLE>
<CAPTION>
                                                     Thirteen Weeks Ended
                                              ---------------------------------
                                              December 29,         December 30,
                                                  2002                2001
                                              ------------         ------------
<S>                                           <C>                  <C>
         Net sales:
         Disk Drive Division                  $    132,791         $     92,716
         BioMeasurement Division                        71                    1
                                              ------------         ------------
                                              $    132,862         $     92,717
                                              ============         ============

         Operating income (loss):
         Disk Drive Division                  $     24,238         $      8,145
         BioMeasurement Division                    (1,302)              (1,120)
                                              ------------         ------------
                                              $     22,936         $      7,025
                                              ============         ============
</TABLE>

Assets of the  BioMeasurement  Division are not relevant for  management  of the
BioMeasurement Division segment or significant for disclosure.
<PAGE>
                       HUTCHINSON TECHNOLOGY INCORPORATED
     ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                             RESULTS OF OPERATIONS.

When we refer  to  "we,"  "us,"  the  "Company"  or  "HTI,"  we mean  Hutchinson
Technology  Incorporated  and  its  subsidiaries.  Unless  otherwise  indicated,
references  to  "2003"  mean  HTI's  fiscal  year  ending  September  28,  2003,
references to "2002" mean HTI's fiscal year ended September 29, 2002, references
to "2001" mean HTI's fiscal year ended 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
supply a  variety  of  suspension  assemblies and suspension assembly components
based on several  standard  designs to manufacturers of hard disk drives  ("disk
drives") and  manufacturers of disk drive components (including Alps,   Fujitsu,
Hitachi  Global  Storage   Technologies    (formerly IBM's  Storage   Technology
Division), Innovex, Kaifa,  KR Precision, Maxtor,  Read-Rite, SAE Magnetics/TDK,
Samsung,   Seagate,   Toshiba  and  Western  Digital).   Suspension   assemblies
are a critical component  of  disk  drives  and  our  results of  operations are
highly    dependent  on  the  disk  drive  industry.   The disk  drive  industry
is intensely competitive,  and demand  for  disk  drive  components  fluctuates.
Our results of operations  have  been  adversely   affected  from  time  to time
due  to  disk  drive  industry  slowdowns,  technological  changes  that  impact
suspension     assembly    demand,   shifts   in    our   market    share    and
our   customers'  market  share,  our customers'  production  yields and our own
product transitions.

Since 1999,  improvements in data density, the amount of data that can be stored
on magnetic disks, have outpaced disk drive storage capacity requirements.  This
enabled  disk  drive   manufacturers  to  reduce  their  costs  by  using  fewer
components,  including  suspension  assemblies,  in each  drive.  Shifts  in our
position in the marketplace had also, to a lesser extent,  decreased  demand for
our products.  Slower  growth of disk drive  storage  demand and a weaker global
economy have also decreased  demand for our products  since 2001.  Consequently,
our shipments  declined  from 583 million in 1999 to 398 million in 2002.  While
improvements  in  data  density  continued  to  reduce  demand  for  disk  drive
components in 2002, improvements in our market position have increased shipments
of our products since the latter part of 2002.

Our  shipments of suspension  assemblies  for the first quarter of 2003 were 135
million,  22% higher  than our  shipments  in the fourth  quarter of 2002.  This
increase  was due to an  increase in disk drive  production,  an increase in our
market share and a temporary  increase in TSA suspension  consumption  resulting
from lower  production  yields at some of our  customers as they  transition  to
higher density recording heads.  Although we continue to have limited visibility
for future demand,  we expect our shipment volumes in the second quarter of 2003
to be similar to our  shipment  volumes  in the first  quarter of 2003.  We also
expect suspension  assembly  shipments for the second half of 2003 to range from
240 to 250  million,  assuming  that  recent  levels of demand and market  share
continue and that our  customers  improve their  production  yields from current
rates.

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 and production efficiency to reduce
its cost. If we cannot reduce our  manufacturing  costs as prices decline during
our  products'  life cycles,  our business,  financial  condition and results of
operations could be materially adversely affected.
<PAGE>
We typically allow customers to change or cancel orders on short notice. 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.  Customers typically prefer a dual source supply and, therefore,
they  allocate  their  demand  among  suppliers.  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.

Our gross margins have  fluctuated  and will continue to fluctuate  based upon a
variety of factors, such as:

-   changes in demand or customer requirements
-   changes in our product mix
-   changes in our selling prices
-   changes in the utilization of our production capacity
-   changes in our infrastructure costs, and how we control them
-   increases in production and engineering costs associated with production of
    new products
-   changes in our manufacturing yields
-   changes in our production efficiency
-   changes in the cost of raw materials

Gross margins  improved in the first quarter of 2003  primarily due to increased
shipments,  which resulted in higher utilization of our production capacity, and
productivity improvements made during the quarter.

The disk drive industry is intensely  competitive,  and our customers' operating
results are  dependent on being  first-to-market  and  first-to-volume  with new
products at a low cost. 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.  Our dedicated  Development  Center  enables us to shorten  development
cycles and achieve high volume output per manufacturing unit more quickly.

New suspension assembly types have lower  manufacturing  yields and are produced
in smaller quantities than more mature products.  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.  Small  variations  in  manufacturing  yields  generally  have a
significant  impact on gross margins.  Because our business is capital intensive
and  requires a high level of fixed  costs,  gross  margins  are also  extremely
sensitive to changes in volume and capacity utilization.

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.
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
3,336 at the end of 2002. Due to increased production requirements, however, our
overall  employment level had increased to 3,416 by the end of the first quarter
of 2003.

RESULTS OF OPERATIONS

THIRTEEN WEEKS ENDED DECEMBER 29, 2002 VS. THIRTEEN WEEKS ENDED DECEMBER 30,
2001.

Net sales for the thirteen weeks ended December 29, 2002 were  $132,862,000,  an
increase of $40,145,000 or 43% from the  comparable  period in 2002.  Suspension
assembly  sales  increased  $36,165,000  compared  to the  thirteen  weeks ended
December 30, 2001,  as a result of a 48%  increase in  shipments.  Additionally,
sales of suspension assembly components, primarily to our competitors, increased
$3,166,000.  Both of these  increases  were  due to an  increase  in disk  drive
production,  an  increase in our market  share and a  temporary  increase in TSA
suspension  consumption  resulting from lower  production  yields at some of our
customers  related to their  transition to higher density  recording  heads. The
increase in suspension  assembly volume was partially  offset by a 2% decline in
average selling prices for our suspension assemblies.
<PAGE>
Gross profit for the  thirteen  weeks ended  December 29, 2002 was  $41,428,000,
compared to  $21,220,000  for the  comparable  period in 2002.  The increase was
primarily due to the increase in net sales  mentioned  above.  Gross profit as a
percent  of net  sales  increased  from  23% to  31%,  primarily  due to  higher
utilization of our production capacity and productivity improvements.

Research and development expenses for the thirteen weeks ended December 29, 2002
were $3,448,000 compared to $4,531,000 for the thirteen weeks ended December 30,
2001.  The majority of the  decrease was due to a $926,000  increase in customer
funding of advanced suspension  assembly  development costs. As a percent of net
sales,  research and development expenses decreased from 5% in the first quarter
of 2002 to 3% in the first quarter of 2003.

Selling,  general  and  administrative  expenses  for the  thirteen  weeks ended
December 29, 2002 were  $15,044,000,  an increase of  $2,748,000 or 22% from the
comparable  period in 2002.  The  increase  was due  primarily  to a  $3,050,000
increase in incentive  compensation costs as profitability improved in the first
quarter  of 2003  compared  to the  first  quarter  of  2002.  Expenses  for our
subsidiary,  Hutchinson  Technology  Asia,  Inc.,  also increased by $341,000 as
on-site service and engineering  support to our customers in Asia was increased.
These  increases  were partially  offset by a $814,000  reduction in legal fees,
primarily due to reduced patent litigation defense costs.  Selling,  general and
administrative  expenses  as a percent  of net sales  decreased  from 13% in the
first quarter of 2002 to 11% in the first quarter of 2003.

During the first quarter of 2002, we recorded an increase to operating income of
$2,632,000 as a result of a  reimbursement  of legal expenses from another party
and insurance proceeds related to litigation defense costs.

Income  from  operations  for the  thirteen  weeks ended  December  29, 2002 was
$22,936,000,  compared to  $7,025,000  for the  comparable  period in 2002.  The
increase was primarily due to the increase in net sales mentioned  above,  which
resulted in higher  utilization of our  production  capacity,  and  productivity
improvements  made during the quarter.  Income from  operations for the thirteen
weeks ended December 29, 2002 included a $1,302,000 loss from operations for our
BioMeasurement  Division  segment,   compared  to  a  $1,120,000  loss  for  the
comparable period in 2002.

Interest  expense for the thirteen weeks ended December 29, 2002 was $2,235,000,
a decrease of $1,369,000 from the comparable period in 2002,  primarily due to a
lower amount of outstanding debt and fewer capitalized leases.

Interest income for the thirteen weeks ended December 29, 2002 was $1,423,000, a
decrease of $622,000 from the comparable  period in 2002,  primarily as a result
of lower investment yields.

During  the  first  quarter  of  2003,  we  repurchased  $10,971,000  of  our 6%
Convertible  Subordinated Notes before their maturity.  In connection with these
transactions, we recorded a $221,000 pre-tax gain on debt extinguishment.

Other income,  net of other expenses,  for the thirteen weeks ended December 29,
2002 was $297,000,  an increase of $128,000 from the comparable  period in 2002,
primarily due to increased rental income from leasing portions of our facilities
that we do not intend to utilize for the foreseeable future.

The income tax  provision  for the  thirteen  weeks ended  December 29, 2002 was
based on an estimated  effective  tax rate for the fiscal year of 19%,  which is
below the  statutory  federal rate  primarily due to our estimate of the benefit
derived  from the ETI  provisions  related  to export of U.S.  products  and our
estimate of our utilization of net operating loss carryforwards. The increase in
our  effective  tax rate,  from 15% in 2002 to 19% in 2003,  is primarily due to
lower growth in the estimated benefit that we may derive from the ETI provisions
in proportion to the estimated growth in our pre-tax income.
<PAGE>
Net income for the  thirteen  weeks ended  December  29,  2002 was  $18,340,000,
compared to net income of  $4,790,000  for the  comparable  period in 2002.  Our
improved profitability was primarily due to the above-mentioned  increase in net
sales,  which resulted in higher  utilization of our  production  capacity,  and
productivity  improvements  made  during the  quarter.  Net income for the first
quarter of 2002 included the  above-mentioned  increase to operating income from
the litigation  settlement.  Excluding this item, net income as a percent of net
sales  increased  from 5% for the thirteen  weeks ended December 30, 2001 to 14%
for the thirteen weeks ended December 29, 2002.

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  increased from $57,852,000 at September 29, 2002
to $65,386,000 at December 29, 2002. Our securities available for sale increased
from $151,257,000 to $164,144,000 during the same period. Overall, this reflects
a $20,421,000 increase in our cash and cash equivalents and securities available
for sale, primarily due to improved  profitability in the first quarter of 2003.
We generated  cash from  operating  activities of  $42,364,000  for the thirteen
weeks ended December 29, 2002.

As of December 29, 2002, our $50,000,000 credit facility had a borrowing base of
$44,334,000, secured by our accounts receivable and inventory. Letters of credit
and loans  outstanding  under this facility totaled  $5,004,000 as of such date,
including  $2,809,000  issued in connection  with  obligations  under  equipment
leases.  The amount we can borrow  under this credit  facility is limited by the
levels of our accounts  receivable  and inventory  balances.  As of December 29,
2002, $39,330,000 of borrowing capacity remained available to us.

Cash used for capital  expenditures  totaled  $10,453,000 for the thirteen weeks
ended   December  29,  2002.  We  expect  total  capital   expenditures   to  be
approximately $50,000,000  during  2003, to be spent  primarily  for new program
tooling,  process  technology  and  capability  improvements,  increases in  TSA
production  capacity and new  business  systems.   Financing  of  these  capital
expenditures will be principally from internally  generated funds, cash and cash
equivalents and securities available for sale.

During  the  first  quarter  of  2003,  we  repurchased  $10,971,000  of  our 6%
Convertible  Subordinated Notes at a pre-tax gain of $221,000. These notes had a
maturity  date of March 15, 2005.  This  extinguishment  of debt will reduce our
interest expense in 2003 by approximately  $648,000.  Our  debt-to-equity  ratio
improved  from 42  percent  at the end of 2002 to 36  percent  at the end of the
first quarter of 2003.

Certain of our existing  financing  agreements  contain  covenants which,  among
other things,  restrict our ability to pay dividends to our shareholders and may
restrict our ability to enter into certain  types of  financing.  As of December
29, 2002, we were in compliance with all such covenants. If, however, we are not
in compliance  with the covenants in our financing  agreements at the end of any
future  quarter and cannot  obtain  amendments  on terms  acceptable  to us, 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  2003.  Our  ability to obtain  additional  financing,  if
needed,  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, if needed.
<PAGE>
CRITICAL ACCOUNTING POLICIES

Our discussion and analysis of our financial condition and results of operations
are based upon our consolidated  financial statements,  which have been prepared
in accordance with accounting principles generally accepted in the United States
of America.  The preparation of these financial  statements  requires estimation
and judgment that affect the reported amounts of revenues,  expenses, assets and
liabilities. We base our estimates on historical experience and on various other
assumptions  that are believed to be  reasonable  under the  circumstances,  the
results of which form the basis for making  judgments  about the carrying values
of assets and  liabilities  that are not readily  apparent  from other  sources.
Following are our most  critical  accounting  policies  that affect  significant
areas and involve judgment and estimates.  If these estimates differ  materially
from actual results, the impact to the consolidated  financial statements may be
material.

Revenue Recognition

In  recognizing  revenue in any  period,  we apply the  provisions  of SEC Staff
Accounting  Bulletin No. 101,  "Revenue  Recognition." We recognize revenue from
the sale of our products when persuasive  evidence of an arrangement exists, the
product has been delivered,  the fee is fixed and determinable and collection of
the resulting receivable is reasonably assured.  Amounts billed to customers for
shipping and handling  costs  associated  with products  sold are  classified as
revenue.

For all sales,  we use a binding  purchase order as evidence of an  arrangement.
Delivery generally occurs when product is delivered to a common carrier. Certain
of our products are delivered on an FOB destination  basis. We defer our revenue
associated  with these  transactions  until the  delivery  has  occurred  to the
customers' premises.

We also store  inventory in warehouses  (JIT hubs) that are located close to the
customer's  manufacturing  facilities.  Revenue is  recognized on sales from JIT
hubs upon the  transfer  of title  and risk of loss,  following  the  customer's
acknowledgement of the receipt of the goods.

We  also  enter  into   arrangements   with   customers  that  provide  us  with
reimbursement for guaranteed capacity.  We recognize the associated revenue over
the estimated life of the program for which the capacity is guaranteed.

Accounts Receivable

We are dependent on a limited  number of customers,  and as a result,  our trade
accounts  receivable  is highly  concentrated.  We establish  an  allowance  for
doubtful accounts by analyzing specific customer accounts and assessing the risk
of uncollectability  based on past transaction history with the customer and the
customer's financial  condition.  While we perform ongoing credit reviews of our
customers and have established an allowance for doubtful accounts, a significant
deterioration in the financial condition of any significant  customer may result
in  additional  charges to increase the  allowance  for doubtful  accounts or to
write off certain accounts.

We record a  provision  against  revenue for  estimated  returns on sales of our
products in the same period that the related  revenues are  recognized.  We base
the  allowance  on  historical  returns  as  well  as  existing  product  return
notifications.

Inventory Valuation

Inventories  are  valued at the lower of cost  (first-in,  first-out  method) or
market by analyzing market conditions, current sales prices, inventory costs and
inventory balances.

We are  dependent  on a limited  number  of  customers  and a limited  number of
product programs for each customer.  Because our products are  custom-built,  we
typically  cannot  shift  work-in-process  or  finished  goods from  customer to
customer,  or from one program to another for a particular customer. We evaluate
inventory  balances for excess quantities and obsolescence on a regular basis by
analyzing backlog,  estimated demand,  inventory on hand, sales levels and other
information. We write down excess and obsolete inventory to the lower of cost or
market based on the analysis.
<PAGE>
Long-Lived Assets

We evaluate the carrying  value of long-lived  assets,  consisting  primarily of
property,   plant  and  equipment,   whenever   certain  events  or  changes  in
circumstances  indicate  that the  carrying  amount of these  assets  may not be
recoverable.  Such events or  circumstances  include,  but are not limited to, a
prolonged  industry downturn or significant  reductions in projected future cash
flows.  In assessing the  recoverability  of long-lived  assets,  we compare the
carrying value to the undiscounted  future cash flows the assets are expected to
generate.  If the total of the  undiscounted  future cash flows is less than the
carrying  amount of the  assets,  the assets  will be written  down based on the
excess of the  carrying  amount  over the fair value of the  assets.  Fair value
would  generally be determined by calculating  the discounted  future cash flows
using a  discount  rate  based  upon  our  weighted  average  cost  of  capital.
Significant  judgments  and  assumptions  are required in the forecast of future
operating  results used in the  preparation of the estimated  future cash flows.
Changes in these  estimates  could have a material  effect on the  assessment of
long-lived assets.

Income Taxes

We account for income taxes in accordance with Statement of Financial Accounting
Standards  No.  109,  "Accounting  for Income  Taxes." As part of the process of
preparing our consolidated financial statements, we are required to estimate our
income  taxes in each of the  jurisdictions  in which we operate.  This  process
involves  estimating our current tax exposure together with assessing  temporary
differences  resulting from differing  treatment of items for tax and accounting
purposes. These differences result in deferred tax assets and liabilities, which
are included  within our  consolidated  balance  sheet.  We must then assess the
likelihood  that our deferred tax assets will be recovered  from future  taxable
income  and to the  extent we  believe  that  recovery  is not  likely,  we must
establish  a  valuation  allowance.  To the  extent  we  establish  a  valuation
allowance or change this allowance in a period,  we must include an expense or a
benefit within the tax provision in our statement of operations.

Significant  judgment is required in determining our provision for income taxes,
our deferred tax assets and  liabilities  and any valuation  allowance  recorded
against our  deferred  tax assets.  We have  recorded a valuation  allowance  of
$56,272,000  as of December 29, 2002,  due to the  uncertainty  of realizing the
benefits of certain tax credits and net operating loss carryforwards before they
expire.  The valuation  allowance is based on our estimates of taxable income by
each jurisdiction in which we operate and the period over which our deferred tax
assets will be  recoverable.  In the event that actual results differ from these
estimates or we adjust these estimates in future periods,  we may need to adjust
the valuation  allowance,  which could materially impact our financial  position
and results of operations.

MARKET TRENDS AND CERTAIN CONTINGENCIES

(a) MARKET TRENDS

We expect that the expanding use of enterprise  computing and storage,  personal
computers,  increasingly  complex software and the emergence of new applications
for disk storage,  such as digital video  recording,  gaming  consoles,  digital
cameras and other  consumer  applications,  will increase disk drive demand and,
therefore,  suspension assembly 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 disk  drives,  extending  from the desktop  market to server
drives,  have reduced unit  shipments of suspension  assemblies  since the third
quarter of 1999. However,  data density improvements have grown at a slower rate
in the past year,  and we believe they will continue to grow at a slower rate in
the upcoming year.
<PAGE>
World-wide  suspension assembly shipments increased in the first quarter of 2003
due to an increase  in disk drive  production  and  temporary  lower  production
yields at some disk drive and recording head manufacturers as they transition to
higher  density   recording   heads.   Unless  disk  drive  and  recording  head
manufacturers  can  substantially  improve their  production  yields,  we expect
world-wide suspension assembly shipment volumes in the second quarter of 2003 to
be similar to the shipment  volumes in the first quarter of 2003. We also expect
world-wide suspension assembly shipments for the second half of 2003 to decrease
as disk drive and recording head  manufacturers  improve their production yields
from current rates. Beyond 2003, we believe that world-wide  suspension assembly
shipments will gradually increase as average  suspension  assembly counts within
disk drives  stabilize  and  overall  disk drive  demand  growth  increases.  We
continue to have limited visibility for future demand.

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 cost of storing data on disk
drives continues to decrease  primarily due to increasing data density,  thereby
increasing storage capacity in disk drives or reducing the number of components,
including suspension assemblies, required in a disk drive.

The  continual  pursuit of  increasing  data density and lower storage costs are
leading to further adoption of value-added features for TSA suspensions, such as
extended  arms,  headlifts,  limiters,  static  dissipative  coatings and switch
shunts. TSA suspensions also allow for dual stage actuation,  which incorporates
a second  stage  actuator on the  suspension  to improve head  positioning  over
increasingly  tighter  data  tracks.   Additionally,   TSA  suspensions  can  be
configured  to allow for  attachment of  preamplifiers  near the head to improve
data transfer signals.

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.  We believe that reduced  production yields at some of our customers
due to their transition to higher density  recording heads resulted in increased
shipments of our suspension assemblies in the first quarter of 2003. As programs
mature,  higher customer  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 assembly types which temporarily may reduce our
manufacturing yields and efficiencies. These changes will continue to affect us.

(b) CONTINGENCIES

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 certain of our  manufacturing  equipment
or  products or to  products  that  include  our  products  as a  component.  In
addition,  certain  of our  customers  have been sued on patents  having  claims
closely  related  to  products  sold by us.  If any  third  party  makes a valid
infringement claim and a license is 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 or cash flows.

We are a party to certain claims arising in the ordinary course of business.  In
the opinion of management, the outcome of such claims will not materially affect
our current or future financial position, results of operations or cash flows.
<PAGE>
(c)  OTHER MATTERS

Over the course of the last two years, the World Trade Organization  ("WTO") has
ruled that the Foreign Sales Corporation ("FSC") provisions of the United States
Internal Revenue Code ("IRC"), and the FSC's replacement provisions contained in
the Extraterritorial  Income Exclusion Act of 2002 ("ETI") are prohibited export
subsidies under the rules of the WTO.  Federal  legislation was proposed in 2002
that included a provision to repeal the ETI. Until the ETI provisions of the IRC
are repealed,  we expect to earn a net benefit under the ETI provisions  similar
to that previously earned under the FSC provisions of the IRC.

In  accordance  with  Section 10A of the  Securities  Exchange  Act of 1934,  as
amended by Section 202 of the  Sarbanes-Oxley  Act of 2002,  non-audit  services
approved in the first  quarter by the Audit  Committee of our Board of Directors
and to be performed by Deloitte & Touche LLP, our independent  auditors,  are as
follows: (i) tax compliance services,  (ii) tax planning services, and (iii) tax
controversy services.

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,  the statements above under the heading
"Market Trends and Certain  Contingencies"  about data density  improvements  in
disk drives 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 and component 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>


       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 December 29, 2002, there was $17,000
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
December 29, 2002,  the  outstanding  principal  amount of the Note was $400,000
which was subject to an interest rate of 1.65%.

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 December
29, 2002, we had fixed rate debt of $132,753,000.

We do not enter  into  derivative  or other  financial  instruments  or  hedging
transactions for trading or speculative purposes.  All of our sales transactions
in our Disk Drive Division are denominated in United States dollars and thus are
not  subject  to risk  due to  currency  exchange  fluctuations.  Certain  sales
transactions  in our  BioMeasurement  Division  may be  denominated  in  foreign
currencies.
<PAGE>
                          ITEM 4. CONTROLS AND PROCEDURES.

(a) Evaluation of disclosure controls and procedures.  Based on their evaluation
as of a date within 90 days of the filing date of this Quarterly  Report on Form
10-Q,  our  principal  executive  officer and principal  financial  officer have
concluded  that our  disclosure  controls  and  procedures  (as defined in Rules
13a-14(c) and 15d-14(c)  under the Securities  Exchange Act of 1934, as amended)
were effective as of the date of such  evaluation to ensure that  information we
are required to disclose in reports that we file or submit under the  Securities
Exchange Act of 1934 is recorded, processed,  summarized and reported within the
time periods specified in Securities and Exchange Commission rules and forms.

(b)  Changes in  internal  controls.  There were no  significant  changes in our
internal  controls or in other  factors  that could  significantly  affect these
controls  subsequent  to the  date of  their  evaluation,  nor  were  there  any
significant  deficiencies or material weaknesses in our internal controls.  As a
result, no corrective actions were required or undertaken.
<PAGE>
                             PART II. OTHER INFORMATION
                      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.

<TABLE>
<S>     <C>
3.1     Amended and Restated Articles of Incorporation of HTI.

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).

4.5     Share Rights Agreement dated as of 7/19/00,  between HTI and Wells Fargo
        Bank  Minnesota,  N.A.,  as Rights Agent  (incorporated  by reference to
        Exhibit 1 to HTI's Registration Statement on Form 8-A, dated 7/24/00).

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).
</TABLE>
<PAGE>
<TABLE>
<S>     <C>
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,  as amended
        (incorporated  by  reference  to  Exhibit  A to HTI's  Definitive  Proxy
        Statement on Schedule 14A for the Annual Meeting of Shareholders held on
        1/29/03).

#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 2003  Management  Bonus Plan of  Hutchinson
        Technology Incorporated.

#10.10  Description  of Fiscal Year 2003  BioMeasurement  Division Bonus Plan of
        Hutchinson Technology Incorporated.

99      Certification under Section 906 of the Sarbanes-Oxley Act of 2002.
</TABLE>

#   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 December 29, 2002.
<PAGE>
                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                    HUTCHINSON TECHNOLOGY INCORPORATED

Date:  February 5, 2003          By /s/Wayne M. Fortun
      -------------------           --------------------------------
                                    Wayne M. Fortun
                                    President and Chief Executive Officer



Date:  February 5,  2003         By /s/John A. Ingleman
      -------------------           --------------------------------
                                    John A. Ingleman
                                    Vice President, Chief Financial Officer
                                       and Secretary
<PAGE>
                                 CERTIFICATIONS

I,  Wayne  M.  Fortun,   Chief  Executive   Officer  of  Hutchinson   Technology
Incorporated, certify that:

1.    I  have  reviewed  this  quarterly  report  on  Form  10-Q  of  Hutchinson
      Technology Incorporated;

2.    Based on my knowledge,  this quarterly  report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the  circumstances  under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  quarterly  report,  fairly  present in all
      material respects the financial condition,  results of operations and cash
      flows of the  registrant  as of, and for,  the periods  presented  in this
      quarterly report;

4.    The  registrant's  other  certifying  officers and I are  responsible  for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934,
      as amended) for the registrant and we have:

      a)    designed  such  disclosure  controls and  procedures  to ensure that
            material  information  relating  to the  registrant,  including  its
            consolidated  subsidiaries,  is made  known to us by  others  within
            those  entities,  particularly  during  the  period  in  which  this
            quarterly report is being prepared;

      b)    evaluated the effectiveness of the registrant's  disclosure controls
            and  procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

      c)    presented  in  this  quarterly  report  our  conclusions  about  the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date;

5.    The registrant's other certifying officers and I have disclosed,  based on
      our most recent  evaluation,  to the  registrant's  auditors and the audit
      committee of the  registrant's  board of directors (or persons  performing
      the equivalent function):

      a)    all significant  deficiencies in the design or operation of internal
            controls which could adversely  affect the  registrant's  ability to
            record,  process,  summarize  and  report  financial  data  and have
            identified for the registrant's  auditors any material weaknesses in
            internal controls; and

      b)    any fraud,  whether or not  material,  that  involves  management or
            other  employees  who have a  significant  role in the  registrant's
            internal controls; and

6.    The registrant's  other  certifying  officers and I have indicated in this
      quarterly report whether or not there were significant changes in internal
      controls or in other  factors  that could  significantly  affect  internal
      controls  subsequent to the date of our most recent evaluation,  including
      any  corrective  actions  with  regard  to  significant  deficiencies  and
      material weaknesses.


Date:  February 5, 2003

                                        /s/ Wayne M. Fortun
                                        ----------------------------------------
                                        Wayne M. Fortun
                                        President and Chief Executive Officer
<PAGE>
                                 CERTIFICATIONS

I,  John  A.  Ingleman,   Chief  Financial  Officer  of  Hutchinson   Technology
Incorporated, certify that:

1.    I  have  reviewed  this  quarterly  report  on  Form  10-Q  of  Hutchinson
      Technology Incorporated;

2.    Based on my knowledge,  this quarterly  report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the  circumstances  under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  quarterly  report,  fairly  present in all
      material respects the financial condition,  results of operations and cash
      flows of the  registrant  as of, and for,  the periods  presented  in this
      quarterly report;

4.    The  registrant's  other  certifying  officers and I are  responsible  for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934,
      as amended) for the registrant and we have:

      a)    designed  such  disclosure  controls and  procedures  to ensure that
            material  information  relating  to the  registrant,  including  its
            consolidated  subsidiaries,  is made  known to us by  others  within
            those  entities,  particularly  during  the  period  in  which  this
            quarterly report is being prepared;

      b)    evaluated the effectiveness of the registrant's  disclosure controls
            and  procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

      c)    presented  in  this  quarterly  report  our  conclusions  about  the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date;

5.    The registrant's other certifying officers and I have disclosed,  based on
      our most recent  evaluation,  to the  registrant's  auditors and the audit
      committee of the  registrant's  board of directors (or persons  performing
      the equivalent function):

      a)    all significant  deficiencies in the design or operation of internal
            controls which could adversely  affect the  registrant's  ability to
            record,  process,  summarize  and  report  financial  data  and have
            identified for the registrant's  auditors any material weaknesses in
            internal controls; and

      b)    any fraud,  whether or not  material,  that  involves  management or
            other  employees  who have a  significant  role in the  registrant's
            internal controls; and

6.    The registrant's  other  certifying  officers and I have indicated in this
      quarterly report whether or not there were significant changes in internal
      controls or in other  factors  that could  significantly  affect  internal
      controls  subsequent to the date of our most recent evaluation,  including
      any  corrective  actions  with  regard  to  significant  deficiencies  and
      material weaknesses.


Date:  February 5, 2003

                                     /s/ John A. Ingleman
                                     ------------------------------------------
                                     John A. Ingleman
                                     Vice President and Chief Financial Officer
<PAGE>
                                INDEX TO EXHIBITS
<TABLE>
<CAPTION>
   Exhibit
     No.                                                                                Page
     ---                                                                                ----

<S>             <C>                                                                 <C>
     3.1        Amended and Restated Articles of Incorporation of HTI.              Filed
                                                                                    Electronically

     3.2        Restated  By-Laws of HTI  (incorporated  by reference to Exhibit    Incorporated
                3.2 to HTI's Quarterly Report on Form 10-Q for the quarter ended    by Reference
                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    Incorporated
                Association,  as Trustee  (incorporated  by reference to Exhibit    by Reference
                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    Incorporated
                Montgomery  Securities  LLC and First Chicago  Capital  Markets,    by Reference
                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    Incorporated
                HTI,  NationsBanc  Montgomery  Securities  LLC and First Chicago    by Reference
                Capital Markets, Inc.  (incorporated by reference to Exhibit 4.8
                to HTI's  Registration  Statement on Form S-3,  Registration No.
                333-50143).

     4.5        Share Rights Agreement dated as of 7/19/00, Incorporated between    Incorporated
                HTI and Wells Fargo Bank Minnesota, N.A., by Reference as Rights    by Reference
                Agent   (incorporated   by  reference  to  Exhibit  1  to  HTI's
                Registration Statement on Form 8-A, dated 7/24/00).

    10.1        Office/Warehouse  Lease between OPUS  Corporation,  Lessor,  and    Incorporated
                HTI,  Lessee,  dated  12/29/95  (incorporated  by  reference  to    by Reference
                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    Incorporated
                by  reference to Exhibit  10.12 to HTI's  Annual  Report on Form    by Reference
                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).
</TABLE>
<PAGE>
<TABLE>
<S>             <C>                                                                 <C>
    10.3        1988 Stock Option Plan  (incorporated by reference  Incorporated    Incorporated
                to Exhibit 10.8 to HTI's Annual Report on Form by Reference 10-K    by Reference
                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).

    10.4        Patent License Agreement,  effective as of 9/1/94,  Incorporated    Incorporated
                between HTI and  International  Business  Machines by  Reference    by Reference
                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    Incorporated
                5/1/96  (incorporated  by  reference  to Exhibit  10.10 to HTI's    by Reference
                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    Incorporated
                Electric  Capital  Corporation,  as Lessor  ("GE"),  and HTI, as    by Reference
                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  Incorporated    Incorporated
                Plan,  as amended  (incorporated  by  reference  to by Reference    by Reference
                Exhibit A to HTI's  Definitive  Proxy  Statement on Schedule 14A
                for the Annual Meeting of Shareholders held on 1/29/03).

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

    10.9        Description  of  Fiscal  Year  2003  Management  Bonus  Plan  of    Filed
                Hutchinson Technology Incorporated.                                 Electronically

    10.10       Description  of Fiscal Year 2003  BioMeasurement  Division Bonus    Filed
                Plan of Hutchinson Technology.                                      Electronically

    99          Certification  under  Section 906 of the  Sarbanes-Oxley  Act of    Filed
                2002.                                                               Electronically
</TABLE>