GT Solar International Inc. (NASDAQ: SOLR) recently posted impressive quarterly results, reporting net income for the first quarter of the fiscal year up to 11 cents a share, from 5 cents apiece it earned a year back. The company’s total net income for the quarter stood at $16.5 million, up from $7.8 million it earned for the same time period last year. The company’s revenue also increased from $71.8 million to $135.1 million. The consensus estimate for the earrings was at 7 cents per share, whereas revenue estimates were at $73 million.
The company also announced a follow-on order worth $23.4 million from OCI Company, a South Korea-based polysilican producing firm. GT Solar also acquired Crystal Systems Inc., a producer of crystalline growth technology for $24 million. The consideration is payable in cash and stock. It has been indicated that $24 million needs to be paid in cash with 5.4 million shares of the acquiring company. It will also include $21 million cash earn out.
GT Solar designs and manufactures equipments for the production of cell and modules. It is a global company and also deals in the designing of manufacturing equipments, as well as the manufacturing of chemical vapor deposition reactors. These reactors are used for manufacturing silicon tetrachloride and polysilicon converters. The company was founded in 1994 and is based out of New Hampshire, U.S.A.
GT Solar stock has a 52-week price range of $4.51-$7.98. The stock has a resistance level at $7.04. Its major support level is at $6.73. If the stock breaches this support level, then the next sustenance level is at $6.53. The stock’s 50-day moving average is at $5.93 and 200-day moving average stands at $5.58. GT Solar International’s P/E ratio is 13.02.
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BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
Beacon Equity Group Disclaimer
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
