GT Solar reports record gross margin and revenue growth


While GT Solar’s Q1 2012 revenue fell by around $40 million from quarter four (Q4) 2011, it is up 71 percent from the 135.2 million recorded in Q1 2011. Polysilicon and photovoltaic business segments comprised the majority of revenue, $23.9 and $198.6 million respectively.

Gross profit Q1 2012 was $113.4 million, which is close to 50 percent of revenue. This is an improvement on 43 percent of revenue of Q4 2011 and 34 percent Q1 2011. Earnings per share equaled $0.41 in Q1 2012, which is the same as Q4 2011 however significantly higher than the $0.11 reported in Q1 2011.

GT Solar also reported a highest level of quarter-ending backlog of $2.3 billion, which included $369.6 in PV and $978.2 million in the polysilicon segment.

"We were pleased to deliver strong top and bottom line performance in the first quarter as well as record gross margin percentage, bookings, backlog and cash balance," said Tom Gutierrez, President and Chief Executive Officer. "Bolstered by our $2.3 billion backlog position, we are confident in our ability to achieve our full-year 2012 guidance and also believe that we have built a solid foundation for continued growth in full-year 2013 and beyond."

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.