GT Advance Technologies Earnings: Here’s Why Shares are Down Now

GT Advance Technologies Inc. (NASDAQ:GTAT) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.26%.

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GT Advance Technologies Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.07 in the quarter versus EPS of $0.69 in the year-earlier quarter.

Revenue: Decreased 83.67% to $57.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: GT Advance Technologies Inc. reported adjusted EPS loss of $0.07 per share. By that measure, the company beat the mean analyst estimate of $-0.15. It missed the average revenue estimate of $58.78 million.

Quoting Management: “In the face of continuing difficult conditions in our served solar and LED markets, our Q1 results came in slightly better than expected,” said Tom Gutierrez, president and chief executive officer. “The actions we are taking to transform GT into a diversified, value-added equipment supplier are yielding results. We are confident that our initiatives in new markets as well as in new technologies that broaden our presence in our existing markets, will provide a path to resumed growth and cash generation in the years ahead.”

Key Stats (on next page)…

Revenue decreased 43.52% from $102.33 million in the previous quarter. EPS increased to $-0.07 in the quarter versus EPS of $-0.15 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.04 to a profit $0.08. For the current year, the average estimate has moved down from a profit of $0.30 to a profit of $0.28 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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