LOS ANGELES, Nov 9 (Reuters) - Solar equipment maker GT Solar International Inc reported its profit fell by two-thirds but it maintained its previous outlook for the fiscal year.
Net income in the fiscal second quarter fell to $9.4 million, or 6 cents per share, compared with $27.9 million, or 19 cents per share, a year ago.
The profit narrowly missed Wall Street analysts' average forecast of 7 cents per share, according to Thomson Reuters I/B/E/S.
Like other solar companies, GT Solar has been hit by the credit crisis, which has dried up financing for new projects, and by a fall in prices.
Revenue was $104.2 million, topping analysts' estimate of $101.82 million, according to Thomson Reuters I/B/E/S.
The company backed its previous outlook for the fiscal year of revenue of $450 million to $550 million and earnings per share of 45 cents to 60 cents.
For the full fiscal year, analysts are looking for $502.69 million in revenue and earnings of 51 cents per share, according to Thomson Reuters I/B/E/S.
GT Solar said it received $30.7 million in new orders during the period and its backlog was $1.03 billion at the end of the quarter.
GT Solar shares were flat in after-hours trading after closing up 5.7 percent at $5.54 on the Nasdaq.
(Reporting by Laura Isensee; editing by Andre Grenon) Keywords: ag GTSOLAR (laura.isensee@thomsonreuters.com; Los Angeles Bureau +213 380 2014) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Net income in the fiscal second quarter fell to $9.4 million, or 6 cents per share, compared with $27.9 million, or 19 cents per share, a year ago.
The profit narrowly missed Wall Street analysts' average forecast of 7 cents per share, according to Thomson Reuters I/B/E/S.
Like other solar companies, GT Solar has been hit by the credit crisis, which has dried up financing for new projects, and by a fall in prices.
Revenue was $104.2 million, topping analysts' estimate of $101.82 million, according to Thomson Reuters I/B/E/S.
The company backed its previous outlook for the fiscal year of revenue of $450 million to $550 million and earnings per share of 45 cents to 60 cents.
For the full fiscal year, analysts are looking for $502.69 million in revenue and earnings of 51 cents per share, according to Thomson Reuters I/B/E/S.
GT Solar said it received $30.7 million in new orders during the period and its backlog was $1.03 billion at the end of the quarter.
GT Solar shares were flat in after-hours trading after closing up 5.7 percent at $5.54 on the Nasdaq.
(Reporting by Laura Isensee; editing by Andre Grenon) Keywords: ag GTSOLAR (laura.isensee@thomsonreuters.com; Los Angeles Bureau +213 380 2014) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
