The reorganization may finally be paying off. The disc-drive-component manufacturer said in a press release today that it expects to be near break-even for the fourth quarter, which ends Sept. 27.
The company has cut costs by laying off nearly 1,400 employees since last fall. This quarter’s income will get an extra bump from the $1.9 million sale of its former building in Sioux Falls, S.D.
HutchTech reports fourth-quarter results to investors Nov. 2. It warned them not to expect a profit to start until 2010. A change in accounting standards means it will take a $2.2 million charge in the first quarter.