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

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.