Aug 4 Solar and LED equipment maker GT Advanced
Technologies Inc forecast full-year 2014 adjusted
profit well above analysts' expectations, citing higher gross
margins for the second half of the year.
Shares of the company, which reported second-quarter results
below the average analyst estimate, were up 11.2 percent in
GT Advanced forecast full-year adjusted profit of between
12-18 cents per share on revenue of between $600 million and
$700 million for fiscal year ending Dec. 31.
Analysts were expecting a profit of 3 cents per share on
revenue of $666.8 million, according to Thomson Reuters I/B/E/S.
GT Advanced is expected to benefit from an agreement to
provide sapphire materials to Apple Inc and gains from
improving polysilicon prices.
GT Advanced's shares closed at $14.12 on the Nasdaq on
(Reporting By Aurindom Mukherjee in Bangalore; Editing by