GT Solar’s backlog balloons: raises current quarter revenue guidance

  •   GT Solar
    Technical upgrades offered to existing customers of DSS650 furnaces are tracking ahead of schedule, enabling GT Solar to raise revenue guidance

Financials

Several large sapphire furnace orders have helped GT Solar to almost double its equipment order backlog guidance from approximately US$1 billion to US$1.6 billion. However, technical upgrades offered to existing customers of DSS650 furnaces are tracking ahead of schedule, enabling GT Solar to raise revenue guidance for the current quarter to approximately, US$225 million, up from previous guidance of between US$140 million - US$150 million.

The company reiterated its full fiscal year 2012 guidance provided on is last quarterly conference call of revenue in the range of US$1 billion -US$1.1 billion.
 

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