GT Solar Announces 2010 Q2 Financial Report

GT Solar International, Inc., a solar cell and silicon epitaxial wafer production equipment manufacturer, announced its 2011 fiscal year Q1 financial report.

GT Solar's 2010 Q2 revenue reached $135.2 million, a quarterly decrease of 31%, an 88% annual increase, and a diluted earnings per share of $0.11, down from $0.23 in the previous quarter, but better than the $0.05 in the same period last year.

As of July 3, GT Solar had a backlog of $1.12 billion, of which $519.8 million was in the polysilicon sector and $604.1 million was in the solar cell space. The total new orders received from April to June 2010 was $352.8 million.

Looking ahead to fiscal year 2011, GT Solar expects revenue to be between $7.00 and $775 million, with a gross margin of 40 to 41%, and a diluted earnings per share of between $0.90 and $1.00.

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