According to TechTerms.com:
http://www.techterms.com/definition/hyperthreading
Hyper-threading allows the processor to execute two threads, or sets of instructions, at the same time. It’s almost like having two separate processors working together. This can improve the processing performance by allowing the two programs to be processed as separate threads at the same time. Intel claims up to a 30% speed improvement compared with a, non-simultaneous multi-threading Pentium 4.

Basically, hyper-treading extends to 2 threads. It multi-tasks more than one instruction thread, giving a significant increase in the processors performance and time.
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