GT Solar gets $82 million orders; shares hit life-high

BANGALORE Tue Jul 5, 2011 1:49pm EDT

GT Solar Chief Executive Tom Gutierrez speaks during an interview with Reuters in Hong Kong October 12, 2010. REUTERS/Tyrone Siu

GT Solar Chief Executive Tom Gutierrez speaks during an interview with Reuters in Hong Kong October 12, 2010.

Credit: Reuters/Tyrone Siu

BANGALORE (Reuters) - Solar and LED equipment maker GT Solar International Inc said it received orders worth $81.7 million for polysilicon production equipment from two new Asian customers, sending its shares to their lifetime high.

The orders will be included in GT Solar's backlog for the first quarter ending July 2, the Merrimack, New Hampshire-based company said.

Last week, GT Solar received its largest ever order worth $460.4 million from a Chinese customer for its furnaces used in sapphire production.

In May, the company had said it expected to book a majority of its new orders in the second quarter and upped its earnings, revenue and margin outlook for fiscal 2012.

GT Solar shares were up 6 percent at $17.10 in Tuesday afternoon trade on Nasdaq. Earlier in the day, they touched a high of $17.17.

(Reporting by Vaishnavi Bala in Bangalore; Editing by Maju Samuel)