GT Solar International Inc. (SOLR) Reports Q1 Profit; Sales Nearly Quadruple
GT Solar International Inc. (SOLR), a U.S. manufacturer of equipment used in the production of photovoltaic cells, announced first quarter 2009 financial results today after the close. Revenues rose to $57.1 million, an increase of 272% year-over-year compared to $15.4 million. Net income rose to $5.1 million, or 3 cents per diluted share, reversing a loss of $5.0 million, or 4 cents per share, for the same period a year ago. There were no analyst earnings estimates ahead of the earnings release. “We are pleased with the results for our first quarter of fiscal 2009 for several reasons,” said GT…