GT Solar International Inc (SOLR) Releases 1st Quarter Earnings Report

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08:06:24 am on August 28, 2008

Yesterday, GT Solar International released an earnings report for the first quarter. This company manufactures solar equipment such as polysilicon, solar cells, and microcrystalline polysilicon wafers. The report from the first quarter appears promising, with revenues rising $57.1 million and net income up to $5.1 million. The company’s president and CEO Tom Zarella advised he was happy with the results, and also said,

" Because we supply the global solar power industry with its core equipment and technology, GT Solar has a unique perspective on macro trends and developments. Given that perspective, we believe that the solar power industry is continuing to make additional progress in lowering costs and bringing solar power closer to parity with more conventional energy sources. We therefore remain optimistic about GT Solar’s future and that of the industry as a whole.”

At the end of the day yesterday, GT Solar’s stock was trading at 14.07/share.

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