Another Big Quarter for GT Solar (SOLR), Beats by 5 Cents

GT Solar (SOLR) reported great results again after the bell today, beating analyst EPS estimates by 5 cents a share, reporting .19/share (good for a 110% increase over the year ago quarter).  Revenues came in much better than expectations as well at 140.2 million, good for an 84% increase over the year ago quarter.  2008 is expected to be the first profitable year in company history and 2009 is expected to be even better with an EPS surge of nearly 200%.

Other highlights:

– The company increased its backlog in the 2nd quarter by 292 million, bringing the total backlog to 1.4 billion. 

– completed the 50K sq ft expansion of Merrimack, NH facility which increases production capacity by 40%

– company beginning to assemble its next generation DSS furnaces

– begun development of its next generation, 400 metric ton reactor allowing customers to produce silicon faster and at dramatically reduced cost

The company is changing the lower end of its revenue guidance range for the fiscal year ending in March 09 from 600 – 650 million to 575 – 650 million due to macro-economic uncertainty.

Shares are up over 10% in after hours trading.

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