GT Advanced Technologies Inc. Announces Results For Quarter Ending June 30, 2012
GT Advanced Technologies Inc. (NASDAQ: GTAT) today reported results for the second quarter of calendar year 2012, which ended June 30, 2012. Effective April 16, 2012, the company changed its fiscal year-end to December 31. The second quarter of calendar 2012 is the first quarterly period of the company’s nine month transition period ending December 31, 2012.
Revenue for the second quarter of calendar 2012 exceeded the company’s previously issued guidance at $167.3 million, compared to $353.9 million in the first quarter of calendar 2012 and $231.1 million in the second quarter of calendar 2011. Revenue by business segment for the second quarter of calendar 2012 was $121.5 million in polysilicon, $9.4 million in photovoltaic (PV), and $36.3 million in the sapphire segment, which was primarily ASF™ equipment revenue.
Gross profit for the second quarter of calendar 2012 was $60.2 million, or 36.0 percent of revenue, compared to $152.3 million, or 43.0 percent of revenue in the first quarter of calendar 2012 and $113.4 million, or 49.1 percent of revenue for the second quarter of calendar 2011.
Operating margin for the second quarter of calendar 2012 was 14.7 percent of revenue, compared to 32.8 percent of revenue in the first quarter of calendar 2012 and 34 percent of revenue in the second quarter of calendar 2011.
In the second quarter of calendar 2012, the company had net income of $14.8 million, compared to $79.1 million in the first quarter of calendar 2012 and $52.1 million for the second quarter of calendar 2011. Non-GAAP net income was $19.2 million in the second quarter of calendar 2012, compared to $83.9 million in the first quarter of calendar 2012 and $56.1 million for the second quarter of calendar 2011. Earnings per share on a fully-diluted basis was $0.12 in the second quarter of calendar 2012, compared to $0.65 for the first quarter of calendar 2012 and $0.41 for the second quarter of calendar 2011.Select the service that is right for you!
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