14 June 2011

GT Solar raises fiscal Q1 revenue outlook from $140–150m to $225m

GT Solar International Inc of Merrimack, NH, USA (a provider of polysilicon production technology as well as sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets) has raised its financial outlook for its fiscal first-quarter 2012 (ending 2 July 2011), reiterated its full-year 2012 guidance, and raised its outlook for order backlog for fiscal 2012.

The firm indicated on 24 May that for fiscal first-quarter 2012 it expected revenue of $140–150m, fully diluted earnings per share (EPS) of $0.08–0.11, and gross margin of about 37%. However, based on sooner-than-expected completion of DSS650 upgrades in Q1/2012, and allowing for Q1 revenue recognition for certain PV orders that had been previously expected in Q2, GT Solar now expects revenue of about $225m, fully diluted EPS of about $0.30, and gross margin of 43–44%.

GT Solar also reiterated its full-year fiscal 2012 guidance (given on 24 May), which includes: revenue of $1–1.1bn; EPS of $1.55–1.85; gross margin of 42–44%; operating expenses of $115–125m; capital expenditure of $25–30m; and an effective tax rate of about 33%.

In addition, given the significant number of orders that the firm has received so far in fiscal Q1/2012, it has also raised its forecast for order backlog at the end of fiscal 2012 from “above $1bn” to “at least $1.6bn”.

See related items:

GT Solar’s full-year income doubles as revenue grows 65%

Tags: GT Solar Crystal Systems Sapphire crystallization furnaces

Visit: www.gtsolar.com