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Volume 11.5M
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As of 8:10 PM 07/9/14 All times are local (Market data is delayed by at least 15 minutes).

gt advanced technologies inc (GTAT) Snapshot

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gt advanced technologies inc (GTAT) Details

GT Advanced Technologies Inc., a technology company, provides materials and equipment for the solar, light emitting diode (LED), and electronics industries worldwide. The company operates through three segments: Sapphire, Polysilicon, and Photovoltaic (PV). The Sapphire segment provides advanced sapphire crystallization furnace systems used to produce sapphire boules; and sapphire materials for a range of other industrial and consumer applications, including medical devices, dental, oil and gas, and watch crystals, as well as specialty optical applications, such as low absorption optical sapphire for advanced optics and Titanium-doped sapphire material for high power lasers. The Polysilicon segment offers silicon deposition reactors; equipment, technology, and engineering services for the production and purification of trichlorosilane and silane; and engineering services. This segment also provides ancillary equipment and technologies for producing seed rods. The PV segment is engaged in the development, manufacture, and sale of crystallization growth furnaces to produce silicon ingots used in the production of solar wafers. This segment offers directional solidification system (DSS) multicrystalline and MonoCast casting furnaces; ancillary equipment, such as crucible coating stations, crucible manipulators, loaders/unloaders, extraction tools, and other material handling systems; and PV parts and services. GT Advanced Technologies Inc. sells its equipment and services to polysilicon producers, solar wafer manufacturers, and sapphire producers through direct sales force and indirect sales representatives. The company was formerly known as GT Solar International, Inc. and changed its name to GT Advanced Technologies Inc. in August 2011. GT Advanced Technologies Inc. was founded in 1994 and is headquartered in Merrimack, New Hampshire.

541 Employees
Last Reported Date: 03/11/14
Founded in 1994

gt advanced technologies inc (GTAT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $2.0M
Chief Operating Officer
Total Annual Compensation: $1.3M
Chief Administrative Officer, Vice President,...
Total Annual Compensation: $769.5K
Executive Vice President of Solar Business
Total Annual Compensation: $769.5K
Vice President of Asia and Industrial Furnace...
Total Annual Compensation: $282.7K
Compensation as of Fiscal Year 2013.

gt advanced technologies inc (GTAT) Key Developments

GT Advanced Technologies Enters into an Agreement with Qatar Solar Energy

GT Advanced Technologies has entered into an agreement with Qatar Solar Energy to supply its HiCz 200 furnaces for Qatar Solar's integrated photovoltaic (PV) manufacturing project in Doha, Qatar.

GT Advanced Technologies Inc. Announces PV Project Win for Edge HiCz Technology

GT Advanced Technologies Inc. announced that it has secured a project win for its proprietary, next-generation HiCz continuous feeding puller technology that is expected to help enable the solar industry's transition to higher efficiency, lower cost solar material. The company has entered into an agreement with Qatar Solar Energy (QSE) to supply its HiCz(TM) 200 furnaces for QSE's integrated PV manufacturing project in Doha, Qatar. As noted by QSE in a recent press release, QSE has opened a 300MW integrated facility and plans for the project to reach 2.5GW. The supply agreement is subject to QSE's receipt of government approvals and financing, at which time GT would expect to receive the equipment order. HiCz is GT's proprietary next-generation monocrystalline PV puller capable of growing both p-type and n-type monocrystalline ingots. The HiCz continuous feeding growth process offers significant advantages over traditional batch Cz furnaces making it particularly well suited for the production of n-type ingots. The HiCz growth process produces longer ingots with greater material uniformity and lower resistivity. This process lowers the cost of wafering through improvements in yield, enables higher quality material and is expected to provide a path to higher efficiency solar cells.

GT Advanced Technologies Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 29, 2014; Reiterates Earnings Guidance for the Year 2014; Provides Revenue Guidance for the Year of 2015; Provides Earnings Guidance for the Year of 2016 and Second Quarter of 2014

GT Advanced Technologies Inc. reported unaudited consolidated earnings results for the first quarter ended March 29, 2014. For the quarter, the company reported revenues of USD 22.510 million compared to USD 57.776 million a year ago. Loss from operations was USD 54.638 million compared to USD 26.324 million a year ago. Loss before income taxes was USD 66.583 million compared to USD 33.520 million a year ago. Net loss was USD 41.397 million compared to USD 18.681 million a year ago. Basic and diluted net loss per share was USD 0.31 compared to USD 0.16 a year ago. Non-GAAP operating income was USD 40.788 million compared to USD 14.596 million a year ago. Non-GAAP net loss was USD 30.132 million or USD 0.22 per diluted share compared to USD 8.929 million or USD 0.07 per diluted share a year ago. The quarter-over-quarter change reflects approximately USD 50 million of cash used in operating activities and CapEx of USD 153 million, which was partially offset by the receipt of the second Apple prepayment of USD 111 million during the quarter. The company reiterated earnings guidance for the year 2014. For the year, the company expects revenue in the range of USD 600 million to USD 800 million, non-GAAP gross margin in the range of 25% to 27%, and fully diluted non-GAAP earnings per share in the range of USD 0.02 to USD 0.18. Non-GAAP gross margins are expected to be in a range of 25% to 27%. The company expects non-GAAP OpEx of USD 150 million to USD 160 million. The company plans to invest USD 600 million in CapEx weighted towards the first half of the year. The non-GAAP effective tax rate is expected to be 35% for the year. The company reported that it's target remains to generate over a USD 1 billion of revenue in 2015, and to deliver non-GAAP earnings at or above USD 1.50 per share in 2016. For the second quarter, the company expects revenues in a range of USD 40 million to USD 80 million, reflecting the timing of ASF165 introduction, and the expectations regarding revenue recognition associated with the specialty furnace order.


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