GT Solar (SOLR) has announced a $20 million order from Jiangxi Sornid Hi-Tech for GT Solar’s GT-DSS450 ingot growth furnaces and ancillary equipment and services. Revenues are expected to be recognized in future quarters.
SOLR CEO Tom Gutierrez commented on the growth in China, saying, “We are seeing an increase in bookings for our GT-DSS450 furnaces in China as customers begin to add new production capacity to position themselves for the next phase of growth … Read the rest
GT Solar (SOLR) has been able to do what most solar stocks haven’t over the past few weeks and that’s avoid a big sell off. The stock has held up very well in recent weeks heading into earnings and will gap up significantly at the open tomorrow after smashing low Wall expectations today. The company reported an EPS .10 above estimates at .25/share on revenues of $173.6 million. That was way ahead of the estimates … Read the rest
Piper Jaffray is downgrading GT Solar (SOLR) to Underweight and slashing the price target to $3 following the earnings report.
Hat tip to StreetInsider.com for the following comment:
“While we believe SOLR’s DSS furnace business is well positioned for a coming expansion cycle and possibly a replacement cycle as the company launches its 600KG furnace next year, we have major concerns on SOLR’s polysilicon equipment (CVD) backlog that bring us to downgrade the stock…We … Read the rest
GT Solar (SOLR) reported mixed earnings results after the bell today with a miss on the EPS side (reporting .06/share vs estimates of .07/share) and a beat on the revenue side (reporting $104 million vs estimates of $101.8). EPS was off 68% from the year ago period, so certainly another solar company that is struggling to get growing again. The company isn’t expected to return to year over year growth until 2011.
The company has … Read the rest
GT Solar (SOLR) is providing preliminary results for the 2nd quarter fiscal 2010. The company expects revenues in the range of $100 – 105 million with an EPS of .06 – .07/share. It also reaffirmed the full year outlook of $450 – $550 million in revenues and .45 – .60/share for EPS. The company reports official results next week.
The company also announced a new CEO in Tom Gutierrez who took over last week for … Read the rest
Shares of GT Solar (SOLR) are down about 3% in premarket trading on news that the company filed a shelf registration on behalf of GT Solar Holdings LLC which allows the company to offer 106 million shares for sale. The amounts and prices will be provided in future SEC filings at the time of the offering.… Read the rest
GT Solar (SOLR) reported earnings results after the bell today that were quite good, but missed analyst estimates. The company reported an EPS of .05/share which was 67% higher than the year ago quarter, but shy of the analyst estimate of .06/share. Revenues of $72 million missed the analyst estimate of $86 million, but was also an improvement over the year ago quarter by 26%.
“We saw a number of positive developments in the … Read the rest
About a year ago LDK Solar (LDK) announced a deal with JYT Corp (a competitor of GT Solar) to begin purchasing silicon ingot furnaces that would be capable of producing 800kg ingots, allowing the company greater quality, efficiencies and margins. The day may be just around the corner when the company can declare it is using those furnaces to their full capacity. Today, the company has announced it has reached a milestone by producing a … Read the rest
Yesterday, GT Solar (SOLR) announced it has received final approval for the first solar wafer and cell turnkey fabrication line in Greece which is being built for Solar Cells Hellas and has annual capacity of 30MW. Once the operation is up and running, Solar Cells Hellas will officially be the first solar PV manufacturer in Greece.
“Being new to the industry, Solar Cells Hellas needed a partner that we could rely on – one with … Read the rest
Yesterday Piper was out with a downgrade of GT Solar (SOLR) from Buy to Neutral after the company reported awful earnings results, saying they are moving to the sidelines until the solar industry recovers.
Piper analyst says, “Although SOLR remains well positioned for an eventual unit recovery, is achieving promising R&D developments for next-gen equipment, and has a strong balance sheet, we believe shares of SOLR will be capped at current levels until a … Read the rest