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Why GT Advanced Technologies (GTAT) Is Up Today

Stocks in this article: GTAT

NEW YORK (TheStreet) -- GT Advanced Technologies (GTAT) was gaining 9.3% to $13.24 on Monday after the company reported a narrower-than-expected loss in the fourth quarter.

GT Advanced posted a loss of 26 cents a share; analysts expected a loss of 36 cents. Revenue fell 68.1% from the year-ago quarter to $32.6 million, missing the Capital IQ Consensus Estimate of $36.76 million.

Looking to the first quarter, the company said it expects a loss of between 25 cents and 20 cents a share and revenue of between $20 million and $30 million. Analysts expect a loss of 7 cents and revenue of $122.58 million for the quarter.

GT Advanced said it expects revenue and profitability will be back-end loaded in 2014, with its sapphire materials business improving throughout the year. The company expects earnings of between 2 cents and 18 cents a share for the full year compared to analysts' estimates of 7 cents. GT Advanced said it expects revenue of between $600 million and $800 million for the year, while analysts expect revenue of $691.8 million.

Must read: 4 Hot Stocks on Traders' Radars

GTAT ChartGTAT data by YCharts

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