The company said it now expects full-year earnings of 12 cents to 18 cents a share, up from its previous guidance of 2 cents to 18 cents. Analysts surveyed by Thomson Reuters expect earnings of 3 cents a share for the year. GT Advanced expects revenue of $600 million to $700 million for the year.
For the second quarter GT Advanced reported a loss of -16 cents a share, below analysts' expectations of a loss of -14 cents a share. Revenue fell -65.5% to $58 million for the quarter, while analysts expected revenue of $63.9 million.