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IBDvalueinvestin (98.35)

One of the biggest beats this qtr



August 05, 2010 – Comments (0) | RELATED TICKERS: GTATQ

Belongs to GT Solar (SOLR)

GT Solar Soars As FY Q1 Revenues, Profits Crush Street Views By Eric Savitz

GT Solar (SOLR) shares are up sharply in late trading on much better-than-expected results for its fiscal first quarter ended July 3.

For the quarter, the provider of manufacturing gear to the solar industry posted revenue of $135.2 million, down from $194.7 million in Q4, but up from $71.8 million in the year ago quarter, and dramatically above the Street consensus at $73.1 million. Profits of 11 cents a share easily beat the Street consensus at 4 cents.

For 2011, the company sees revenue of $700 million to $775 million and profits of 90 cents to $1, sharply higher than the Street consensus at $597.5 million and 64 cents.

SOLR in late trading is up $1.21, or 17.4%, to $8.15.


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