Key Developments: GT Advanced Technologies Inc (GTAT.OQ)

GTAT.OQ on NASDAQ Stock Exchange Global Select Market

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1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

GT Advanced Technologies Inc Introduces Silicon Carbide Furnace
Monday, 1 Jul 2013 08:20am EDT 

GT Advanced Technologies Inc announced that it has introduced its new SiClone100 silicon carbide (SiC) production furnace. The SiClone100 uses a sublimation growth technique capable of producing semiconducting bulk SiC crystal that can be finished into wafers up to 100 millimeters in diameter. In its initial offering, the SiClone100 is targeted at customers that have developed their own hot zone, qualified a bulk crystal production recipe and are looking to begin volume production.  Full Article

GT Advanced Technologies Inc Reiterates FY 2013 Guidance-Conference Call
Friday, 17 May 2013 08:00am EDT 

GT Advanced Technologies Inc announced that it is reiterating its fiscal 2013 revenue guidance of $500 million to $600 million and non-GAAP EPS guidance of $0.25 to $0.45 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $530 million and EPS of $0.29 for fiscal 2013.  Full Article

GT Advanced Technologies Inc Acquires Thermal Technology LLC
Thursday, 16 May 2013 03:40pm EDT 

GT Advanced Technologies Inc announced that it has acquired substantially all of the business of Thermal Technology LLC for purchase consideration consisting of approximately 3.4 million shares of GTAT common stock and an earn out. Located in Santa Rosa, CA, Thermal Technology develops and sells a wide range of high temperature thermal and vacuum products used in the fabrication of advanced materials that are deployed across multiple industries including smartphones and touch screens, LED, medical devices, oil and gas and automotive to name a few. Thermal Technology has delivered over 3,000 products to customers in over 40 countries since it was founded 60 years ago. GT has acquired several key products and technologies that will allow GT to address new markets with a range of production equipment options that can be optimized around customers' specific needs. This includes annealing technology that the Company believes will be important in the manufacturing of sapphire cover screens; crystal growth technology based on the Kyropoulous (KY) growth method and edge defined film growth (EFG) technology for surface area sapphire. Terms of the transaction were not disclosed.  Full Article

GT Advanced Technologies Inc Reaffirms FY 2013 Guidance
Wednesday, 1 May 2013 04:15pm EDT 

GT Advanced Technologies Inc announced that it is reiterating guidance for fiscal 2013 and expects revenue in the range of $500 to $600 million, non-GAAP EPS in the range of $0.25 to $0.45. In addition to the items typically excluded from non-GAAP, the Company's Non-GAAP EPS guidance excludes restructuring charges, any potential DSS Purchase Order cancellation fees and any gain/loss associated with the disposition of the St. Louis facility. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $525 million and EPS of $0.28 for fiscal 2013.  Full Article

GT Advanced Technologies Inc and Powertec Energy Corporation Sign Memorandum of Understanding
Thursday, 28 Mar 2013 06:30am EDT 

GT Advanced Technologies Inc and Powertec Energy Corporation (Powertec) announced the execution of a memorandum of understanding (MOU), which states Powertec`s intention to purchase polysilicon technology and equipment from GT for their phase 2 and 3 expansion projects. Design work for these projects has begun and Powertec currently expects to begin ordering GT equipment and technology in the second half of 2014. Powertec was founded in 2010 with WalsinLihwa Group, United Microelectronics Corp. (UMC), and Sino American Silicon Products Inc. (SAS) as shareholders. In 2011, Powertec began its phase 1 project, located in Taiwan`s Changbin Industrial Park, at which time it purchased 6,000 MTA polysilicon production technology and equipment from GT. The equipment for phase 1 was shipped in 2012. Powertec`s phase 1 project is on track for commercial operation in the first half of 2014 in line with when the solar industry, which has experienced a downturn since 2011, is expected to recover.  Full Article

GT Advanced Technologies Inc Reiterates FY 2013 Guidance
Wednesday, 27 Feb 2013 04:52pm EST 

GT Advanced Technologies Inc reiterated its fiscal 2013 guidance and expects revenue in the range of $500 to $600 million and non-GAAP EPS in the range of $0.25 to $0.45. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $538 million and EPS of $0.30 for fiscal 2013.  Full Article

Soitec SA Enters a Development and Licensing Agreement with GT Advanced Technologies Inc
Monday, 25 Feb 2013 02:00am EST 

Soitec SA and GT Advanced Technologies Inc (GT) announced a development agreement and a licensing agreement allowing GT to develop, manufacture and commercialize a high-volume, multi-wafer HVPE system to produce GaN epi layers on substrates used in the LED and other industries such as power electronics. Initial pre-payment of the licensing fees as outlined in the agreement is already underway, but further specific terms were not disclosed.  Full Article

GT Advanced Technologies Inc Issues Q4 CY 2012 Revenue Guidance; Lowers CY 2012 Revenue Guidance; Issues FY 2013 Guidance; Revenue Guidance In Line With Analysts' Estimates-Conference Call
Tuesday, 18 Dec 2012 08:30am EST 

GT Advanced Technologies Inc announced that for the fourth quarter of calendar year 2012, it expects revenue to be in the range of $95 million to $102 million. For the calendar year 2012, it expects revenue to be in the range of $726 million to $733 million. For fiscal 2013, it expects revenue to be in the range $500 million to $600 million and Non-GAAP EPS on a fully-diluted basis in the range of $0.25 to $0.45 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of USD540 million for fiscal 2013.  Full Article

GT Advanced Technologies Inc's GTAT Corp Settles Trade Secrets Lawsuit Against Poly Plant Project
Friday, 9 Nov 2012 03:30pm EST 

GTAT Corporation, a subsidiary of GT Advanced Technologies, Inc. announced that it has settled a lawsuit pending in the United States District Court for the District of New Hampshire against Poly Plant Project, Inc. (PPP), its employee, Fabrizio Goi, and PPP Equipment Corp. (PPP E) of Burbank, California, for the misappropriation of GTAT`s trade secrets relating to its polysilicon reactor equipment.  Full Article

GT Advanced Technologies Inc Prices $205 Million Of 3.00% Convertible Senior Notes
Tuesday, 25 Sep 2012 09:10am EDT 

GT Advanced Technologies Inc announced that the pricing of $205 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2017. The Company has granted the underwriters an option to purchase up to an additional $15 million aggregate principal amount of the notes from the Company. The Company estimates that the net proceeds of this offering will be $198.3 million (or $212.9 million if the underwriters’ option to purchase additional notes is exercised in full), after deducting the underwriters’ discounts and commissions and estimated offering expenses. The Company expects to use approximately $15.2 million of the net proceeds from the offering to pay the cost of the convertible note hedge transactions (after such cost is partially offset by the proceeds to the Company from the sale of the warrants in the warrant transactions). The Company intends to use the remainder of the net proceeds of the offering for general corporate purposes, which may include the acquisition of companies or businesses, repayment and refinancing of debt, working capital and capital expenditures.  Full Article

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