GT Advanced Technologies released promising earnings guidance yesterday, despite the fact that overall photovoltaic module sales remain depressed. The company also commented how pending import tariffs against China that are being discussed by the European Union could result in new photovoltaic business for GTAT.
GTAT reaffirms guidance, 2012 revenue forecast to be between $925-$975 million. Stock jumps 5% on the news and is up 20% for September, but is still down 8% in 12 months.
GT Advanced Technologies, Inc. is a global provider of photovoltaic manufacturing services for the solar industry. Its equipment is used to manufacture the raw materials needed for solar production. GT also provides systems and material for energy efficient light emitting diodes (LEDs) used for lighting and other specialty markets. Customers include solar companies, as well as companies in the chemical industry.
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