GT Solar's First Quarter Shines

Zachary Scheidt submits:
GT Solar International, Inc. (SOLR) reported earnings after the close Tuesday.  This was the company’s first earnings announcement since becoming a public company on July 24th.  The numbers looked very attractive with the company realizing revenues of $57.1 million, good for a 171% increase over the same quarter last year.  Net income was $5.1 million compared to a loss of $5 million last year and this equates to earnings per share of $0.03.  Gross margins were also strong coming in at 42.6% versus margins of 34.7% last year.  As is the case with most growth companies, the most important part of this release is the forward guidance given by management.  CEO Tom Zarrella stated that he expects the current quarter revenue to more than double sequentially coming in at $120-130 million.  Guidance for the full year (ending March 31, 2009) was also released with expected revenue of $600 to $650 million.  On the earnings side, the company is expecting 12 to 15 cents for the second quarter and full year earnings of $0.70 to 0.75.Complete Story »