GT Solar International, Inc. (NASDAQ: SOLR) ( "GT Solar"), a global provider of specialized equipment and technology for the solar power industry, today reported results for its first quarter of fiscal year 2010, which ended June 27, 2009 . Revenue for the first fiscal quarter totaled $ 71.8 million, compared with $ 57.1 million in the first quarter of fiscal year 2009. Revenue for the first fiscal quarter included $ 19.9 million in the PV segment and $ 51.9 million in the polysilicon segment.
Gross profit for the quarter totaled $ 35.0 million, or 49 percent of revenue, compared to $ 24.3 million, or 43 percent of revenue, for the first quarter of fiscal year 2009. Operating margin for the quarter was 21.7 percent, compared to 14 percent in the first quarter of fiscal 2009. The company had net income of $ 7.8 million in the first quarter of fiscal 2010 versus $ 5.1 million for the same quarter of fiscal 2009. Earnings per share in the first quarter on a fully-diluted basis were $ 0.05, versus $ 0.03 for the same quarter last year.
At quarter's end, the company's backlog was $ 1.12 billion, with $ 330 million in the PV segment and $ 785 million in the polysilicon segment. Net bookings for the quarter were $ 9.8 million.
Management Commentary
"We saw a number of positive developments in the first quarter including solid profitability, increases in our cash position and deferred revenue balance, new PV bookings and the acceptance of another GT turnkey wafer fabrication line," said Tom Zarrella, president and chief executive officer . "As planned, we completed shipment of a significant portion of the reactor-based backlog that is expected to be recognized as revenue in the second half of the year.
"The company is focused on improving operating efficiencies, maintaining cash and a strong balance sheet, strengthening customer relationships and ensuring that our R & D continues to advance GT Solar's technology leadership," said Zarrella. "We are confident that, with our cash management practices, lean cost structure, and flexible business model, we will be in a position to deliver enhanced earnings performance when the industry's growth returns. "
Business Outlook
The company indicated today that it is on track with its guidance provided last quarter for fiscal year ending April 3, 2010, for revenue of $ 450 million to $ 550 million and fully-diluted earnings per share of $ 0.45 to $ 0.60.
Conference Call, Webcast
The company will host a live conference call and webcast at 5:00 pm Eastern Time today with Tom Zarrella, president and chief executive officer, and Rich Johnson, vice president of finance.
To listen to the conference call, callers in the United States and Canada may dial 1-888-396-2384. International callers may dial 1-617-847-8711. The conference call passcode is SOLR. A link to the live audio webcast of the company's earnings conference call may be found under 'Events' at http://investor.gtsolar.com/.
A telephone replay will be available through November 4, 2009. To listen to the replay, callers in the United States and Canada may dial 1 - 888-286-8010. International callers may dial 1 - 617-801-6888. The replay passcode is 33310487.
About GT Solar International, Inc.
GT Solar International, Inc. (NASDAQ: SOLR) is a leading global provider of specialized manufacturing equipment and technology essential for the production of photovoltaic wafers, cells and modules and polysilicon utilized in the solar power industry. The company's principal products are directional solidification systems and chemical vapor deposition reactors and related equipment. For more information about GT Solar, please visit the company's website at www.gtsolar.com.
Amorphous silicon thin-film battery Qssolar announced that the price of 1 USD / W
China's amorphous silicon thin film solar cell manufacturer announced yesterday that Qssolar since August 3rd, the Qssolar amorphous silicon thin-film battery has reached worldwide sales price of 1 U.S. dollars per watt. This is the field of photovoltaic components lowest in the world price.
Qssolar company said that the use of its thin-film battery components and Qssolar help by supporting the integration of electrical power plants, such as stents, 1MW power plant total investment in less than two million U.S. dollars (not including the site and installation costs). The construction of PV power station this price and the service life of 25 years, the California construction cost of photovoltaic power generation power plant is only 0.07 U.S. dollars / kWh, plus bank interest, maintenance costs and property owners profit, power generation costs will be lower than 0.10 U.S. dollars / kWh. Accordingly, the cost of photovoltaic power generation and thermal power price will be the same within a year or two become a reality.
In addition, Qssolar yesterday also suggested the next two years sales of solar cell market target price: sale price in 2011 dollars 0.80-0.85 / W, in 2012 price 0.65 U.S. dollars / watt, while thin-film battery 2012 Qssolar cost will fall to 0.50 U.S. dollars / W .
Aug. 5, 2009
Qssolar company said that the use of its thin-film battery components and Qssolar help by supporting the integration of electrical power plants, such as stents, 1MW power plant total investment in less than two million U.S. dollars (not including the site and installation costs). The construction of PV power station this price and the service life of 25 years, the California construction cost of photovoltaic power generation power plant is only 0.07 U.S. dollars / kWh, plus bank interest, maintenance costs and property owners profit, power generation costs will be lower than 0.10 U.S. dollars / kWh. Accordingly, the cost of photovoltaic power generation and thermal power price will be the same within a year or two become a reality.
In addition, Qssolar yesterday also suggested the next two years sales of solar cell market target price: sale price in 2011 dollars 0.80-0.85 / W, in 2012 price 0.65 U.S. dollars / watt, while thin-film battery 2012 Qssolar cost will fall to 0.50 U.S. dollars / W .
Aug. 5, 2009
Spain's new large-scale photovoltaic power plants more than 600
2008 worldwide more than 1,000 new large-scale photovoltaic power stations have been established, and the formation of the League of power network. Among them, the construction of many power plants can be divided into many stages of construction, so taking into account the power station is under construction, the total will be higher. Union network in the power station, power station in Spain accounted for about 600, Germany and the United Kingdom occupy more than 120, respectively. It is also worth mentioning that the roof of the Belgian installation of solar power generation equipment and the Czech Republic, open-air installation.
In Asia, South Korea in 2008 with more installation of photovoltaic power generation equipment and the top rate. In Europe, in 2008 the number of photovoltaic power generation equipment installed in more than 800 countries have been on the rise. There are also 1500 power station is under construction. United States, with more than 400 photovoltaic power stations, the world's second-largest in the world.
Aug. 4, 2009
In Asia, South Korea in 2008 with more installation of photovoltaic power generation equipment and the top rate. In Europe, in 2008 the number of photovoltaic power generation equipment installed in more than 800 countries have been on the rise. There are also 1500 power station is under construction. United States, with more than 400 photovoltaic power stations, the world's second-largest in the world.
Aug. 4, 2009
First Solar first half revenue growth of 103.5%
The world's thin-film solar module manufacturer First Solar 7 on 30 announced Q2 results: revenue in 2008 from 267 million U.S. dollars during the same period grew 97 percent to 525.9 million U.S. dollars. First Solar2009 in the first quarter revenues of 418.2 million U.S. dollars, an increase of 112%. Taking all these data, the first half of 2009, the First Solar reached 944.1 million U.S. dollars in revenue, an increase of 103.5%.
First Solar full year 2008 revenues of 1,246,300,000 U.S. dollars, while in 2009 the first half of First Solar's revenue reached 944.1 million U.S. dollars, and this results in the first half of the overall downturn in the industry under the condition achieved by This shows that the company's strong market competitiveness. Business degrees in the industry gradually picked up under the good, First Solar's performance in the second half looking forward to more.
Declining cost of First Solar is continuing to strengthen the competitiveness of the root of the problem. 4-quarter 2008 average production of First Solar's cost has been reduced to 0.98 U.S. dollars per watt, is the world's first production cost is lower than 1 U.S. dollars per watt of solar energy companies. At present, the First Solar manufacturing cost per watt has slipped to 0.87 U.S. dollars.
In addition, First Solar had previously said that the plan in 2014 its CdTe thin film solar cell module manufacturing costs per watt will reach 0.52 ~ 0.63 U.S. dollars, compared to the current 0.93 U.S. dollars-per-watt cost of about 30 ~ 40% decline in conversion efficiency from the current 10.9 % try for to 12.5%, 1.6 percentage points to upgrade.
First Soalr as a result of strong performance, well-known management consulting firm Navigant Consulting has estimated that in 2009 will exceed China's First Solar and Suntech Power Japan's Sharp to become the world's largest manufacturers of photovoltaic components. In the production of solar cells, First Solar is also expected to more than Germany's Q-Cells, the world's largest manufacturer of solar cells.
Aug. 3, 2009
First Solar full year 2008 revenues of 1,246,300,000 U.S. dollars, while in 2009 the first half of First Solar's revenue reached 944.1 million U.S. dollars, and this results in the first half of the overall downturn in the industry under the condition achieved by This shows that the company's strong market competitiveness. Business degrees in the industry gradually picked up under the good, First Solar's performance in the second half looking forward to more.
Declining cost of First Solar is continuing to strengthen the competitiveness of the root of the problem. 4-quarter 2008 average production of First Solar's cost has been reduced to 0.98 U.S. dollars per watt, is the world's first production cost is lower than 1 U.S. dollars per watt of solar energy companies. At present, the First Solar manufacturing cost per watt has slipped to 0.87 U.S. dollars.
In addition, First Solar had previously said that the plan in 2014 its CdTe thin film solar cell module manufacturing costs per watt will reach 0.52 ~ 0.63 U.S. dollars, compared to the current 0.93 U.S. dollars-per-watt cost of about 30 ~ 40% decline in conversion efficiency from the current 10.9 % try for to 12.5%, 1.6 percentage points to upgrade.
First Soalr as a result of strong performance, well-known management consulting firm Navigant Consulting has estimated that in 2009 will exceed China's First Solar and Suntech Power Japan's Sharp to become the world's largest manufacturers of photovoltaic components. In the production of solar cells, First Solar is also expected to more than Germany's Q-Cells, the world's largest manufacturer of solar cells.
Aug. 3, 2009
The Japan government to develop "the best in the world to the Project Sunshine"
The Japan government plans to develop its own solar energy known as "the best in the world to the Project Sunshine."
Since January this year, the Japanese government to restart the implementation of subsidies for the purchase of solar equipment has been there are 45,000 residents in applying for the installation of solar panels in households. The central government to install solar panels on subsidies from ¥ 210,000 to ¥ 250,000 range, local governments also have the corresponding subsidies.
Now, in order to promote the domestic solar power generation, the Government of Japan provides that the purchase of solar power plants generate electricity from the family to double the price. It can be foreseen that the new regulations also will greatly encourage the development of domestic solar power generation.
It is estimated that by 2020, the Japanese import of household solar power generation capacity of 10 times the current, and will be further expanded in 2030 to 40 times. At the same time, the Government will be used to 3-5 years to reduce the import cost of solar power generation, reduced to half the current level, the promotion of solar cells in Japan, as well as growing popularity of overseas sales.
By then, Japan's solar power industry will reach 10 trillion yen. The number of employees in industry employment from the current 1.2 million people in 2020 to 11 million people, solar energy industry will provide 98,000 jobs.
Aug. 2, 2009
Since January this year, the Japanese government to restart the implementation of subsidies for the purchase of solar equipment has been there are 45,000 residents in applying for the installation of solar panels in households. The central government to install solar panels on subsidies from ¥ 210,000 to ¥ 250,000 range, local governments also have the corresponding subsidies.
Now, in order to promote the domestic solar power generation, the Government of Japan provides that the purchase of solar power plants generate electricity from the family to double the price. It can be foreseen that the new regulations also will greatly encourage the development of domestic solar power generation.
It is estimated that by 2020, the Japanese import of household solar power generation capacity of 10 times the current, and will be further expanded in 2030 to 40 times. At the same time, the Government will be used to 3-5 years to reduce the import cost of solar power generation, reduced to half the current level, the promotion of solar cells in Japan, as well as growing popularity of overseas sales.
By then, Japan's solar power industry will reach 10 trillion yen. The number of employees in industry employment from the current 1.2 million people in 2020 to 11 million people, solar energy industry will provide 98,000 jobs.
Aug. 2, 2009
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